Cryptocurrency

Cega, a leader in DeFi structured investment products, is thrilled to announce the launch of its latest offering—Shark Fin vaults. Cega aims to address a gap in the market for conservative investors and DeFi lenders that want to outperform existing lending rates, while protecting their principal and maintaining a delta-neutral profile. The “Bull Shark” vaults deliver on both these objectives. In addition, Cega supports deposits of native assets or staked assets for investors looking to keep their upside potential.The innovative Bull Shark BTC and Bull Shark ETH vaults offer 100% principal-protected notes with lending and options components that seeks to deliver a high bonus yield and guaranteed minimum yield, regardless of market swings or downturns.Championing transparency, security, accessibility, and potentially high-yield opportunities, Cega seeks to represent the vanguard of the next evolution in decentralized finance.The protocol is backed by top investors including Dragonfly Capital and Pantera Capital. Connect with CegaFor more information, users can check Cega’s website as well as its Discord and X page.ContactMrJamie KingsleyCegaj.kingsley@theprgenius.comThis article was originally published on Chainwire More

A lot of buyers may try to catch the knife and purchase Bitcoin at what they perceive to be a low price around the $56,000 mark. There may be more liquidations, though, if Bitcoin is unable to maintain this level. An additional sell order may be executed as a result of buyers’ stop-loss orders being triggered, further lowering the price. It may be more difficult for the price of Bitcoin to stabilize if there is more selling pressure, which would accelerate the decline. Bitcoin’s price is greatly influenced by the actions of institutional investors, who hold a substantial portion of the market. It may be difficult for Bitcoin to recover in the near term if the sell-off continues, as this could result in an extended bear market.This article was originally published on U.Today More

Cryptopia has plenty to celebrate this month thanks to the crypto community’s phenomenal response to its Airdrop. Not only did the campaign surpass the team’s expectations with over 50,000 participants completing an impressive 137,000 missions, but it also helped Cryptopia secure exchanges and Tier 1 Launchpads. Cryptopia understands that more people means a diluted prize pool. To show Cryptopia gratitude for its growing community’s overwhelming support, Cryptopia is thrilled to announce a doubling of the Airdrop allocation, pumping it up from a cool 25 million $TOS to a whopping 50 million $TOS. This translates to a prize pool value jump from $87,500 to $175,000 USD. Even with new recruits joining in on the fun, this ensures every Airdrop participant gets their fair share of the bounty.Enhanced Referral RewardsCryptopia continues to emphasize community growth. Currently, members earn Power Points through direct and indirect referrals. To further incentivize participation, Cryptopia will introduce new milestones to enhance referral rewards. Detailed information on these updates will be shared on Cryptopia’s social media platforms in the coming weeks.Recognition for Beta TestersAcknowledging the efforts of its beta testers, Cryptopia has allocated 4% of the Airdrop pool, approximately $7,000, exclusively for these contributors.Summary of Airdrop EnhancementsAbout CryptopiaFree to earn: Accessible to all players without the need for prior NFT purchases.100% decentralized: Operates on the blockchain with a node network.Engaging gameplay: Offers flexible play options.Official Links: Website | Wiki | Discord | Facebook | X | YouTube | Instagram | CoinMarketCap | Twitch | Spotify (NYSE:SPOT) | Telegram Community | Telegram Announcements |For Investors: Early-access NFTs | Cryptopia RoadmapContactCo-FounderHans LeekCryptopia Limitedinfo@cryptopia.comThis article was originally published on Chainwire More

This triple-digit surge underscores a growing but subtle bullish sentiment in the price of Bitcoin. While this positive sentiment is not showing yet, it is vital in printing a recovery from the current bearish onslaught. In recent times, the Bitcoin price has not traded as low as it currently is, with the spot ETF market providing the much-needed cushion up to now.At the moment, the massive rally in Bitcoin trading volume is entirely retail-driven considering how spot BTC ETF products have continued to record outflows. Also, the ongoing recovery in the altcoin ecosystem might complement the revival in the near term. Ultimately, the Bitcoin price is poised to hit bottom, wherein the price will print the long-awaited rebound.The major takeaway is that many Bitcoin whales and addresses are still in profit, and this will help keep the recovery in check when short-term holders start taking profits on revival.This article was originally published on U.Today More

The world’s largest cryptocurrency traded unchanged in the past 24 hours at $61,212.1 by 08:30 ET (12:30 GMT). It had fallen as far as $59,215 in overnight trade.Selling in cryptocurrencies was driven by a storm of different regulatory factors, which, coupled with angst over U.S. interest rates, drove broader prices lower. Crypto investment products were also seen logging two straight weeks of heavy capital outflows. Bitcoin was nursing steep losses through the past week amid reports that the German government was selling Bitcoin confiscated from a piracy website. Reports said the German police had sold about 3,000 tokens of the 50,000 initially confiscated. Reports of the German sales were accompanied by other reports that the U.S. Commodity Futures Trading Commission was investigating market maker Jump Trading over its crypto trading activities. Jump President Kanav Kariya also said he was leaving the firm. The reports added to a broader risk-off sentiment in crypto markets, as traders pivoted into the dollar ahead of key U.S. inflation data due this Friday. PCE price index data, which is the Federal Reserve’s preferred inflation gauge, is widely expected to offer more cues on interest rates this week. Rising fears of high rates had battered crypto markets through the past week, and showed little signs of clearing. Strength in the dollar also diminished crypto’s appeal.Data from digital asset manager CoinShares showed on Monday that crypto investment products saw outflows totaling about $584 million, with a bulk of these being directed towards U.S. Bitcoin exchange-traded funds. Bitcoin products saw outflows of $630 million, while altcoin products saw mild inflows as investors saw recent price slumps as a buying opportunity. Broader crypto prices rose on Tuesday, with major altcoins rebounding from steep losses seen over the past week. World no.2 token Ether rose 1.6% to $3,372.49, after relinquishing a bulk of its gains made on hype over a spot Ether ETF.ADA and SOL climbed 5% and 7%, respectively, while XRP slipped around 0.1%.Among meme tokens, SHIB and DOGE added 3% and 4.5%, respectively.In a Monday note to clients, analysts at brokerage firm Bernstein said Ether ETFs are expected to attract similar demand sources as their Bitcoin counterparts, though on a smaller scale.“ETH should not see as much spot ETH conversion due to the lack of an ETH staking feature in the ETF,” analysts wrote.They added that the basis trade, which involves buying the spot ETF and selling the futures contract simultaneously, should gain traction over time and contribute to healthy liquidity in the ETF market.Spot Ether ETFs are nearing availability for U.S. investors following the Securities and Exchange Commission’s (SEC) approval of key regulatory filings from issuers last month.“ETH as a primary tokenization platform is building up a strong use-case, both for stablecoin payments and tokenization of traditional assets and funds,” the analysts continued.Ether and other digital assets require a “more improved regulatory regime,” and Bernstein anticipates that the regulatory narrative will improve closer to the U.S. elections, especially with the increasing odds of a Republican victory and Trump’s pro-crypto stance.Despite recent declines in the crypto markets, the “structural adoption cycle remains intact,” the report noted. More

The fresh capital injection will be used to develop ENSO’s platform, expand its community and go toward the launch of its L1 Cosmos-based blockchain scheduled later this year.The funding round saw participation from Ideo Ventures, Hypersphere, and over 60 angel investors from organizations like Safe, Socket, Titan, Essential, Sygnum, TheGraph, Alchemix, Biconomy, Yearn, Squid, Liquity, Pendle, Everclear, Flashbots, and Dune.ENSO, which describes itself as the connectivity layer of crypto, highlights that its platform handled over $11 billion in on-chain settlements in 2023, serving more than 35 projects currently in production. The company plans to expand its infrastructure capabilities and support further adoption across decentralized finance (DeFi) and blockchain applications.”We’re thrilled to have the support of Ideo Ventures, Hypersphere, and an exceptional group of angels as we embark on our next phase of growth,” said Connor Howe of ENSO. “This funding validates our vision to transform blockchain interactions and underscores the confidence in our technology from both institutional backers and the angels involved.”With Enso, developers can interact with a single source that abstracts all the complexities of dealing with smart contracts. This is achieved through a shared network state that stores and manages all smart contract interactions across blockchains, rollups, and rollapps for execution.Before using Enso, the company claims that developers had to manually integrate blockchain frameworks, write smart contracts to interact with other smart contracts, understand each smart contract’s nuances, and build customized infrastructure to maintain these integrations. This process was time-consuming, error-prone, and required a deep understanding of the underlying blockchain framework where the smart contracts were deployed.By turning user requests into intents and mapping every smart contract interaction along with their relationships to other smart contracts, Enso inherently connects all of crypto into one unified platform, making it easily accessible for users and developers. More

Promontory Technologies is excited to announce the launch of its Promontory Alpha Fund, a quantitative, systematic, multi-strategy approach to trade liquid listed digital (“crypto”) assets. The fund is designed to be market-neutral and avoid deep drawdowns, offering both a BVI vehicle for non-US investors and a Delaware LP for US investors.Promontory’s CEO, Jackson Fu, was a day-one co-founder of the highly successful Qilin Investment, a top-rated quant hedge fund manager based in Shanghai. Since its launch in 2016, Qilin has managed USD $5-7 billion in AUM with excellent risk-adjusted performance, earning it the nickname “The DE Shaw of Asia”. The Promontory team includes several key members from Qilin and brings a strong pedigree in the quant systematic trading space to the crypto markets.Notably, the new fund has attracted capital from investors such as prominent Asian family offices and billionaire entrepreneurs, which the team hopes will underscore confidence in Promontory’s approach and team.Joining Jackson at Promontory from Qilin, are CIO Robin Liu, and several top quants and developers. Robin previously managed a USD $100 million (5,000 BTC) quant crypto strategy at Amber Group. The Promontory team, now 15 strong, includes seasoned professionals from BlackRock (NYSE:BLK), Brevan Howard, Deutsche Bank, Morgan Stanley, OKX, Huobi, Gate, and WorldQuant.Promontory’s strategy uses advanced quantitative techniques, data science, AI, machine learning, and risk modeling to identify uncorrelated alpha in liquid digital assets. By diversifying capital and risk across a broad mix of sub-strategies and factors, the strategy achieves strong diversification and multiple sources of alpha. The team has adapted and honed their models and algorithms over several years to work successfully in the crypto space and has been trading these models in the crypto markets.For more information on Promontory Technologies and the Promontory Alpha Fund, users can contact info@promotechfi.com or visit www.promotechfi.com and their LinkedIn company page.About Promontory TechnologiesPromontory Technologies is the premier digital asset management firm dedicated to serving family offices, institutions, and high net worth individuals. Promontory provides digital asset exposure, risk management and diversification through a quantitative systematic hedge fund, venture capital, market making and OTC services.The firm is helmed by a team of seasoned executives who have successfully managed a quantitative hedge fund with over US$7 billion in AUM in the traditional securities markets, as well as a crypto quantitative hedge fund with over US$200 million in AUM.ContactsInvestor Relations DirectorCharles Mancharles.man@promotechfi.comInvestor Relations DirectorDavid Scicolonedavid.scicolone@promotechfi.comThis article was originally published on Chainwire More

(Reuters) – Donald Trump has taken a commanding lead over Joe Biden – in the world of political meme coins, at least.Crypto tokens linked to former President Trump have leapt in volume and value in recent weeks as the November U.S. presidential election heaves into view and the arch-rivals prepare for their first public debate. The universe of the so-called “PolitiFi” tokens is tiny, with a combined market value of about $1 billion. A majority of those are linked to Trump, who has presented himself as a champion for cryptocurrency although he hasn’t offered specifics on his proposed crypto policy.Of the top 10 political meme coins by market value, seven are based on Trump, with many playing on Trump’s Make America Great Again slogan, such as MAGA and MAGA Hat, according to crypto platform CoinGecko, while only one – Jeo Boden – is related to President Biden, CoinGecko data shows.The largest token linked to a political figure, MAGA, trades under a ticker called TRUMP on exchanges and was launched in late August 2023. Its market value has leapt as high as $775 million in June from nearly nothing at the start of the year.By comparison, Jeo Boden, which launched in March this year, jumped to as much as $648 million days after its launch before gradually sliding to $87 million.Forrest Przybysz, a cryptocurrency trader and CEO of Sistine Research, says meme coins by their nature are not only highly speculative but also driven by attention cycles. “The more attention a token can hold and maintain, usually the higher it’s price will go … he added. “Trump is an attention magnet. Therefore he is the ideal subject for a meme token.” “We should expect price and speculation on a Trump-based meme token to rise as we get closer to the election.” Political tokens are a fraction of the $46 billion market value of meme coins – hyper-speculative, volatile and risky cryptocurrencies often driven by internet jokes – which are themselves a niche segment of the broader $2.3 trillion cryptocurrencies, per Coingecko estimates.The origins of some of the tokens are obscure and debated on social media by traders wary of a “rug pull”, where investors deposit money in phony projects only to find the coin’s developers have vanished with the money. Of the top 10 biggest political tokens, which typically aim to capitalize on the increased attention on political figures ahead of elections, eight were launched between May and June this year, CoinGecko said. “Meme coins are similar to nonfungible tokens in terms of being a bit of collectors’ item. The idea is that you monetize public attention,” said Yan Liberman, co-founder at crypto research firm Delphi Digital.However, trading these tokens is easier said than done. Few, if any, are listed on the biggest centralized exchanges such as Coinbase (NASDAQ:COIN) or Binance. Most of the tokens are traded in ether or solana pairs on smaller exchanges, each typically have a market value of below $100 million and trade for fractions of a cent apiece. QUESTIONABLE LEGITIMACYBiden and Trump are neck-and-neck in national opinion polls. A presidential debate between the two candidates on Thursday will be a critical event five months before the Nov. 5 vote. Traders on Polymarket, a crypto site where users place bets with stablecoins on future events, were betting on a 59% chance that Republican challenger Trump would unseat Democratic incumbent Joe Biden.Political tokens bank on the popularity of political figures to gain traction, enticing retail investors with satirical or humorous names: “Funny is certainly an authentic big driving force of which tokens do well,” said Delphi Digital’s Liberman .Trump hasn’t said he endorses or backs any crypto token in his name. However, his slamming of Democrats’ attempts to regulate the sector has boosted his popularity among these tokens, Liberman said. The broader crypto industry is spending tens of millions of dollars ahead of the U.S. election to boost crypto-friendly candidates. Investor twins Tyler and Cameron Winklevoss donated $2 million in bitcoin to support Trump last week but a report said the donation was refunded as it exceeded the maximum amount allowed under federal law. Analysts at Bitfinex said: “These tokens have turned into speculative assets themselves in terms of the election results.” More