Cryptocurrency

Memereum (MEME), a new altcoin, has demonstrated notable performance during its initial coin offering (ICO) presale, selling over 23 million tokens and nearing the 24 million mark. The project has attracted more than 8,000 users to its platform. While the Ethereum challenger, Solana, remains under the $150 price level.The pre-sale began at $0.01 and by a strategic move by the team, is now at $0.039. Those who invested in Memereum at the beginning have seen their investments grow almost 400%. Memereum’s appeal stems from its unique position as the first blockchain insurance with its own insured decentralized exchange, MemeSwap.Memereum (MEME) is currently priced at $0.039, but will launch at $0.45 on BitVenus, Toobit, Azbit, and MemeSwap, which is more than 10 times its original price. Memereum ICO also has automatic 183% APY staking for holders, along with free airdrop competitions.Solana (SOL): Analysts Predict a Potential Rise To $215Solana (SOL), one of the top altcoins in the crypto market, is experiencing mixed sentiment on the price chart, remaining under the $150 mark. According to CoinMarketCap, Solana has recorded losses of 9.71% on the weekly chart and shown losses of 14.65% on the monthly chart.Despite the mixed sentiment, some predict that Solana’s price could rise to $215 in the coming weeks. Furthermore, Solana aims to carve out its niche in the digital asset space and establish itself as a rival to Ethereum.About Memereum (MEME)The strong interest in Memereum (MEME) can be attributed to its innovative approach in the blockchain sector and its growing community support. Similarly, Solana is currently experiencing mixed market sentiment but continues to be an active participant in the market.Users can click here to join Memereum’s ongoing presale.ContactBessie CooperMemereumsupport@memereum.netThis article was originally published on Chainwire More

According to H.C. Wainwright, the event featured panel discussions with executives from Coinbase, BlackRock (NYSE:BLK), ARK Invest, and others, covering key topics such as spot BTC ETFs, payments and stablecoins, tokenization of real-world assets, and the political and regulatory environment in the U.S. and abroad.Institutional interest in crypto is on the rise, but adoption is still in the early stages. The approval and launch of spot BTC ETFs in the U.S. in January catalyzed a massive price rally for Bitcoin and other digital assets this year.Meanwhile, H.C. Wainwright sees three near-term positive catalysts for the crypto industry: the approval of spot BTC ETFs by large broker-dealers and investment advisory platforms, greater regulatory clarity in the U.S., and the launch of spot ETH ETFs. “Institutional interest is certainly on the rise, but we are still in the early days of adoption,” H.C. Wainwright noted.The U.S. spot BTC ETFs have collectively attracted over $15 billion in net inflows in just five months and now manage $63.5 billion in total assets under management (AUM). Coinbase serves as the custodian for about 90% of these U.S. spot ETF assets. According to Samara Cohen, Chief Investment Officer of ETF and Index Investments at BlackRock, “80% of the total inflows to date have come from retail investors.”Most large broker-dealer and investment advisory platforms in the U.S. are still undergoing due diligence processes before approving these products for client portfolios. There are roughly 15,000 Registered Investment Advisors (RIAs) in the U.S. managing a combined $114 trillion of wealth for their clients. Even a small portfolio allocation from this massive pool of wealth could impact an asset class with a combined market cap of $2.4 trillion.H.C. Wainwright further details that stablecoins settled $10 trillion in total volume, exceeding the total transaction volume of Mastercard (NYSE:MA), the world’s second-largest payment network. According to BlackRock, “56% of Fortune 500 companies are actively working on projects on the blockchain.” BlackRock has also tokenized real-world assets on the Ethereum blockchain and now has the largest tokenized treasury fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), with $382 million in AUM. Boston Consulting Group (BCG) data projects that tokenized assets will reach $16 trillion by 2030, up from $310 billion in 2022.H.C. Wainwright reiterated its Buy rating and $315 price target for Coinbase, reflecting a 12.5x EV/revenue multiple on the 2024 total revenue estimate of $6.3 billion. Risks to this bullish stance include retail trading revenue concentration, volatility in crypto asset values, a dynamic regulatory environment, and intense competition. More

The bearish trend includes sales from miners, adding to the selling pressure amid a hawkish outlook from the Federal Open Market Committee (FOMC) on Wednesday. “Long-term holder selling may not be catalyzed by a specific event, but their buying and selling activity usually dictates short-term market movements as the wallets of large holders are closely tracked by the Bitcoin community,” the report reads.The spot Bitcoin ETFs had their worst week of outflows since mid-March, with the 11 U.S. ETFs reporting a total net outflow of $580.6 million last week, according to data from Farside Investors.Last week, Bitcoin declined by 4.3% to finish just above the $66,600 mark, underperforming major equity indices. Meanwhile, mining stocks rallied another 15.7% week-over-week on continued positive sentiment on the political front. On June 11, executives from some of the largest Bitcoin mining companies in the U.S. met with Republican Presidential candidate Donald Trump at his Mar-a-Lago resort in Palm Beach, Florida. They discussed how miners can help strengthen the country’s energy grid and increase job creation domestically. Trump showed his support in a statement released on Truth Social, his social media app, where he posted, “Bitcoin mining may be our last line of defense against a CBDC (Central Bank Digital Currency)… We want all the remaining Bitcoin to be made in the USA! It will help us be energy dominant!”Following the recent rally in mining stocks, the combined market cap for the 19 Bitcoin miners in H.C. Wainwright’s dataset reached a record high of $26 billion as of June 14. The network hash rate declined by 3.9% week-over-week to 581 EH/s, while network difficulty remained at 83.7T after the latest -0.8% negative adjustment on June 6. Moreover, the report highlighted that hash prices fell by 12.4% week-over-week to $0.054/TH/day due to lower Bitcoin prices and transaction fees.Elsewhere, Texas-based miners have responded positively to the statement. RIOT’s head of public policy, Brian Morgenstern, stated that getting miners on board to help support the grid will create a more flexible power load and help keep the power grids balanced in the state. More

Nosana, an open-source cloud computing marketplace dedicated to AI inference, today announced a new partnership with AlphaNeural, a company building a groundbreaking decentralized marketplace for AI models and datasets.This partnership aims to create a more inclusive and collaborative AI ecosystem by combining AlphaNeural’s innovative platform with Nosana’s high-performance GPU infrastructure.Building a Sustainable AI EcosystemTraditionally, access to powerful computing resources has been a major barrier for aspiring AI developers. AlphaNeural’s platform will eliminate this hurdle by leveraging Nosana’s extensive network of GPUs. This will empower AlphaNeural’s users to train and run powerful AI models, fostering a more inclusive and collaborative AI ecosystem.Nosana x AlphaNeural IntegrationNosana will serve as AlphaNeural’s trusted compute provider, offering a suite of services to streamline their operations:Both Nosana and AlphaNeural are committed to democratizing access to AI tools and resources. This partnership represents a significant step towards achieving this goal.Nosana is excited to collaborate with AlphaNeural and witness the transformative potential of their decentralized AI marketplace.AlphaNeural AI is a decentralized AI marketplace built on Solana. Our platform allows seamless collaboration between developers, data scientists and companies. Built to exchange data and AI models in a secure, privacy assured way, AlphaNeural AI expands access and innovation in AI.Whether you’re an individual, a startup looking to innovate or an established company exploring AI integration, our tools and community are engineered to help your projects forward while incentivizing everyone with our token economy.About NosanaNosana is an open-source cloud computing marketplace dedicated to AI inference. Their mission is simple: make GPU computing more accessible to all at a fraction of the cost. The platform has two main goals: providing AI users with flexible GPU access and enabling GPU owners to monetize their hardware by renting it out. By offering affordable GPU power, Nosana enables AI users to train and deploy models faster, without expensive hardware investments, all powered by the $NOS token. Access compute for a fraction of the cost or become a compute supplier at Nosana.io.Users Can Learn More about Nosana By visiting:Website | Documentation | Twitter | Discord | Telegram | LinkedInContactHead of MarketingCarolineNosanacaroline@nosana.ioThis article was originally published on Chainwire More

Bluefin, a new financial ecosystem, is on a mission to create the on-chain equivalent of the most well-known centralized exchanges, i.e. Binance, leveraging decentralized technology to offer a revolutionary approach to interacting with financial markets. Currently, Bluefin provides a cutting-edge, user-friendly platform for derivatives trading, making professional financial tools accessible to everyone, regardless of their crypto expertise.What is Bluefin?Bluefin provides a decentralized derivatives exchange (DEX) designed to offer secure, efficient, and transparent trading without intermediaries. The platform leverages blockchain technology to ensure near-instant settlement and reliable order execution, making it an ideal platform for both beginners and seasoned traders.Bluefin’s goal when it started building was the same as it is today: to become the most complete hub for finance on-chain. It began by tackling one of the most challenging problems: building a perpetuals exchange onchain. It has been an exciting niche to develop.This was always just the beginning.The future Bluefin is building is much grander. It’s accelerating the adoption of decentralized finance by bringing a sustainable, powerful, and user-friendly exchange to the market.Bluefin’s Mission: Democratizing FinanceBluefin aims to build the most powerful and accessible network of financial applications in decentralized finance. By creating a comprehensive ecosystem of user-friendly tools and services, Bluefin strives to revolutionize the way individuals interact with DeFi, making it simple and accessible for anyone to participate in this transformative financial landscape. By providing a user-friendly interface and intuitive tools, Bluefin removes the complexity and intimidation often associated with DeFi, making it accessible to individuals from all walks of life. The platform’s mission is to break down the barriers that have traditionally prevented everyday people from exploring and benefiting from the exciting opportunities offered by decentralized financial markets.The Team Behind BluefinBluefin’s journey has been marked by resilience and innovation, weathering multiple market cycles since its inception three years ago. Despite the challenges faced by the industry, the team has consistently pushed forward, demonstrating that Bluefin is here to stay. Backed by leading investors like Polychain, SIG, and Brevan Howard, and led by Co-Founders Rabeel Jawaid, Zabi Mohebzada, Yameen Malik, and Ahmad Jawaid, Bluefin boasts a robust foundation that has enabled the company to navigate the ever-changing landscape of DeFi with a global team reflecting the far-reaching nature of its vision.To achieve its ambitious goals, Bluefin thinks big—both internally and externally. The company only hires A+ players. The leadership team and its newest members exemplify this high standard:Prior to Bluefin, Rabeel worked in research, where he spent three years building Solid Oxide Fuel Cells for MW-scale systems. He graduated from the University of Pennsylvania with a dual Bachelor’s degree in Physics and Electrical Engineering and a Master’s Degree in Systems Engineering.Meet Patel, who heads Business Operations at Bluefin, started his career at Facebook (NASDAQ:META) as a Product Specialist. He received his Bachelor’s degree in Economics from Harvard University, where he also completed his MBA prior to joining Bluefin.Earlier this year, Bluefin welcomed Aman Kapoor to lead strategy. He was previously a Senior Associate at Pacific Lake, a venture capital and private equity firm. At Pacific Lake, he worked with portfolio company CEOs to help them scale their businesses. Aman graduated from the University of Pennsylvania with a degree in Computer Science and was a Penn Named Scholar.Most recently, Bluefin welcomed its newest members of the engineering team: Joseph, who was previously a director of trading systems at the NYSE, and Andrew, who was previously an Engineering Manager at Squarespace.All investors, partners, contributors, and community members in the Bluefin ecosystem share the same standard of integrity and excellence. Bluefin’s Core Offering: Decentralized Derivatives TradingBluefin’s primary product is its decentralized derivatives trading platform, which leverages the power of Web3 and blockchain technology. Bluefin has processed $28 billion in volume with its beta version, and the next version, expected in October, aims to be the most powerful derivatives exchange in decentralized finance in terms of performance and security.Bluefin’s trusted relationships with global financial institutions enable it to offer deep liquidity, translating to a fundamentally better user experience. The platform features key market makers from the industry’s leading names to ensure the trading experience on Bluefin rivals any other exchange on the market. Investors in Bluefin include leading trading firms such as SIG, Brevan Howard, and Tower Research.Additional OfferingsBluefin is committed to leveraging the most advanced and user-friendly technology in the blockchain space. Our partnership with Mysten Labs, a team that originated at Facebook and helped build the Sui blockchain, is driven by a shared vision of prioritizing performance and user experience.By building on Sui’s fast, scalable, and user-friendly blockchain, Bluefin offers a seamless trading experience with lower fees, faster transactions, and enhanced security. Wallet abstraction allows users to connect their Google (NASDAQ:GOOGL) accounts and start trading instantly, eliminating the need for private key management and simplifying the onboarding process without sacrificing security. This feature also unlocks mobile trading, as users no longer need to manage wallets on mobile devices.Bluefin boasts a range of cutting-edge features, including:The Role of Sui in Shaping the Future of FinanceSui’s architecture is built to empower decentralized applications (dApps) by processing transactions swiftly and securely. As Sui continues to evolve and drive innovation in the DeFi space, it is poised to play a key role in shaping the future of finance. Its combination of speed, scalability, and user-friendliness makes it an ideal platform for a wide range of financial applications, including decentralized exchanges like Bluefin.By leveraging Sui’s cutting-edge technology, Bluefin delivers a seamless trading experience that exemplifies the future of decentralized finance. Bluefin’s integration of Sui’s innovative features and its active contribution to the development and expansion of the Sui ecosystem demonstrates a strong commitment to advancing DeFi. Through this collaboration, Bluefin positions itself as a key player in fostering growth, driving adoption, and reshaping the way investors and traders engage with the ever-changing world of blockchain and decentralized finance.Bluefin’s Vision for the FutureBluefin envisions a future where Web2 and Web3 seamlessly integrate, creating a more robust and user-friendly financial ecosystem. The platform focuses on enhancing user experience, ensuring that even non-crypto natives can easily navigate and benefit from decentralized finance.Bluefin is set to launch an exciting new tokenomics model along with an airdrop, aimed at rewarding users and fostering a vibrant community. This initiative will further enhance the platform’s functionality, user engagement, and community growth.Exploring Bluefin’s: Transforming the Landscape of Decentralized FinanceBluefin is at the forefront of the decentralized finance revolution, and now is the perfect time to get involved. To learn more or become part of this transformative journey, users can visit https://bluefin.io/ or follow on X: @bluefinapp Bluefin is not just a trading platform; it’s a gateway to the future of finance. By democratizing access to professional financial tools and leveraging the power of Web3, Bluefin is paving the way for a more inclusive and efficient financial ecosystem.ContactSenior Account DirectorDillon AraceM Group Strategic Communicationsbluefin@mgroupsc.comThis article was originally published on Chainwire More

In the short term, however, Bitcoin underwent fluctuations last week amid macroeconomic updates in the US, with prices swinging from $66,000 on Wednesday morning to nearly $70,000 later that day. By the end of the week, the flagship coin settled back to just above $66,600, as per the Kaiko BTC Benchmark Reference Rate. Overall, Bitcoin dipped by just over 4% last week, with selling outpacing buying on nearly all exchanges.“The net cumulative volume delta (CVD) for top BTC trading pairs reached $518mn between June 10- 14, with Binance and Bybit witnessing the most selling activity,” Kaiko analyst wrote.Despite the rollercoaster ride driven by macro news, Bitcoin has already shown signs of maturation in 2024. Specifically, the research notes that Bitcoin’s 60-day historical volatility has remained below 50% since the beginning of 2023. This contrasts sharply with the massive fluctuations of 2022, when volatility exceeded 100%. Bitcoin’s volatility hit an all-time low of 40%, far lower than the peaks of over 106% seen in 2021 when it reached record highs. Even the launch of spot Bitcoin ETFs in the US was relatively muted on the volatility front. While it’s too early to declare this the new norm, changes to Bitcoin’s market structure over the past year may help explain the relatively ‘boring’ price action.“The US market close now commands a higher share of trading volumes, as BTC liquidity becomes more concentrated around the East coast trading window,” the report noted. Therefore, Bitcoin ETF demand trends should not be ignored when analyzing price movements. The reversal of inflows in US Bitcoin ETFs last week likely contributed to some of the selling pressure, as did macroeconomic news. As with all emerging asset classes, cryptocurrency is more likely to experience higher volatility due to new capital flows.Kaiko concluded that Blackrock has overtaken Grayscale’s Grayscale Bitcoin Trust (NYSE:GBTC) in terms of assets under management. The $10 trillion asset manager now holds the title of the world’s largest spot Bitcoin ETF, surpassing the crypto-native incumbent. More

The most recent price movement of Bitcoin indicates that it is testing important support levels at approximately $65,000. Significant support lines are being provided by the 50-day EMA and the 200-day EMA, and a hold above these levels may signal stabilization. There is a chance that investors can take advantage of the current dip to add more Bitcoin because this consolidation phase frequently precedes potential recoveries.More information can be obtained by examining funding rates on different exchanges. Positive funding rates exist for popular cryptocurrencies like Ethereum and Solana, which traders are prepared to pay a premium for in order to hold onto their long positions.When it is positive, this measure becomes a key gauge of market sentiment and frequently suggests an upcoming bullish reversal. Furthermore, a significant number of long positions — 407. 91 million over the course of the last day — are being liquidated, according to the liquidation heatmap.Although this may appear unfavorable, at first, it frequently hints at a market reset in which excess leverage is eliminated to make room for a more steady upward trend, given that there is potential for upward movement without the possibility of sudden overbought conditions. For now, the RSI for Bitcoin is circling the neutral zone. In spite of the recent market decline, this and the positive funding rates suggest that there may be room for optimism. However, it would have been better for the asset if the RSI were around the reversal zone.This article was originally published on U.Today More

The world’s largest cryptocurrency fell roughly 1% in the past 24 hours to $65,635 by 04:34 am ET (08:34 GMT). BTC has initially dropped as low as $64,000, before reversing some of the sharp losses.The cryptocurrency has been hovering around its 50-day moving average at $66,000, putting the medium-term uptrend to the test.Bitcoin has had a relatively quiet weekend, mainly hovering around the $66,000 mark. Monday’s trading started slowly but picked up momentum later in the day. However, following an unexpected surge in volatility, the premier crypto asset dropped by over $3,000, hitting its lowest level since May 15.This sharp volatility negatively impacted over-leveraged traders, with more than 190,000 positions liquidated in the past day, totaling over $480 million. Simultaneously, Bitcoin exchange-traded funds (ETFs) saw net outflows of $145 million, extending last week’s poor performance and further dampening bullish sentiment in the market.Last week, Bitcoin fell below $65,000 for the first time in a month as ETF outflows exceeded $500 million after the Federal Reserve indicated only one interest rate cut for 2024.According to market analysts, other factors also did nothing to help support Bitcoin’s price. For instance, French President Emmanuel Macron unexpectedly called a snap election in the country, a move that strengthened the dollar as traders dumped the euro.A strong dollar typically puts pressure on Bitcoin as it makes dollar-denominated assets more attractive to investors, reducing demand for alternative assets like Bitcoin.Beyond Bitcoin, most major altcoins also experienced slight declines on Monday morning.The world’s second-largest cryptocurrency, ETH/USD, dropped by 2.7% to $3,447.18, while Cardano fell nearly 6.4%. In contrast, XRP rose by 2.1%, but Solana saw a 4.8% decline.Meme tokens faced significant losses, with DOGE/USD and Investing.com Shiba Inu Index plunging 7.6% and 9%, respectively. More