Cryptocurrency

The funding round was led by Hashed and the Sui Foundation, with additional backing from gaming specialists such as Spartan, Neoclassic, Bigbrain Holdings, and KRAFTON.Web3 gaming startups, aside from top names, usually don’t attract headline-making funding rounds. However, there’s a steady stream of investment flowing into various games and developer studios. This trend continued this week, with several companies integrating gaming with Web3 announcing new funding rounds.XOCIETY is a AAA MMOTPS metaverse gaming platform that combines online third-person shooting with a creator economy. The recent capital injection follows the launch of XOCIETY’s beta testing, which the company says it attracted over 3,000 users from 76 countries. The trial has reportedly generated more than 11,000 hours of playtime and retained over 77% of players for a week or more. Developed by Team NDUs, XOCIETY integrates RPG mechanics with a new reward system focused on player engagement and skill. The game features an in-game corporation system, allowing players to own shares and manage their own companies and economic entities within the game world.”We are focusing on creating a sustainable player engagement model, moving away from the short-lived earning models seen in some Web3 games,” said Jeffry Kim, founder of NDUs. “This investment will help us blend the best aspects of traditional gaming with the possibilities of Web3.”The development team includes industry veterans such as Myoungjin Lee, known for his work on Ragnarok, and Sang Chung, former Head of PlayDapp. “Our team’s experience is crucial in developing a high-quality, engaging game that stands out in the Web3 space,” commented Simon Kim, CEO & Managing Partner of Hashed.“XOCIETY is a natural partner for Sui,” said Greg Siourounis, Managing Director of Sui Foundation. “Thanks to Sui’s high throughput, instant settlement speeds, and dynamic on-chain assets, players will be able to experience the best of what gaming powered by Web3 has to offer.” More

What exactly is a double top pattern? Generally speaking, this pattern is interpreted as a bearish reversal signal, suggesting that the asset may find it difficult to continue rising. It develops when the price reaches a peak, falls, then rises to the peak once more before beginning to decline.The bullish momentum appears to be waning, as indicated by this double peak and a downward trend may ensue. The price of Bitcoin tried to rise after reaching $70,000, but it encountered resistance close to $71,900, as can be seen in the current chart.The completion of the double top formation by Bitcoin might indicate the end of the current rally if it is unable to overcome this resistance and retreats. This cautious outlook is supported by a number of indicators. According to the RSI, a price correction is typically preceded by overbought levels, which Bitcoin is approaching. Furthermore, the volume did not increase all that much during the most recent upward move, which may indicate that the buying pressure is waning. However, do not forget the larger picture. Even in spite of these red flags, in the past, Bitcoin has consistently displayed bullish behavior and resilience, frequently challenging technical analysis patterns.Institutional interest and widespread adoption are both growing and the market sentiment at the moment is still mainly positive, thanks to the ETF. Traders need to be on guard. The double top pattern may be confirmed and a possible decline in price could result if Bitcoin breaks below the $70,000 support level. This article was originally published on U.Today More

Bitcoin rose 0.25% in the past 24 hours to $71,133.9 by 08:45 ET (12:45 GMT). The token stabilized after breaking out of a $60,000 to $70,000 trading range this week, ending a trough it had fallen into since mid-March.Bitcoin near record highs as ETF inflows surge The world’s biggest cryptocurrency was now about $3,000 away from a record high hit in March, benefiting from weakness in the dollar as traders priced in interest rate cuts by the Fed. U.S.-listed spot exchange traded funds of the token saw a spike in inflows this week, bringing total year-to-date inflows to about $15 billion. Spot Bitcoin ETFs also saw four straight weeks of inflows in May.The approval of spot Bitcoin ETFs in U.S. markets was a key point of support for the token this year, with Bitcoin hitting a record high on the back of increased institutional inflows. This trend appeared to be gaining momentum once again, especially in the face of lower U.S. interest rates, which present a more accommodative environment for crypto markets. A rate cut by the Bank of Canada on Wednesday, and anticipation of a widely expected rate cut by the European Central Bank on Thursday also drummed up optimism over lower interest rates.World no.2 crypto Ether rose 1.1% to $3,847.12, remaining close to recent two-month highs as the token also benefited from hype over a spot Ether ETF.The Securities and Exchange Commission had in May approved major U.S. exchanges to list the spot ETFs, and is now set to engage with fund managers over the approval of the products.Broader altcoins were mixed, but were sitting on gains this week as a swathe of weak U.S. economic data saw traders increase their bets on a September rate cut. SOL, ADA and XRP fell between 0.1% and 0.5%, while among memecoins, SHIB and DOGE rose 1.4% and 0.5%, respectively.Speaking of meme coins, institutional allocations to these assets have surged by more than 300% this year, reaching nearly $300 million in April, according to a report from crypto exchange Bybit.This surge, Bybit said, signals a growing interest from professional investors in the sector.DOGE and SHIB were particularly popular among institutional investors due to their substantial spot-market liquidity. It’s important to note that these holdings were tracked solely on Bybit and do not account for holdings on other exchanges.Among the new meme coins, Solana’s BONK/USD stood out, attracting over $75 million in institutional investments, making it the most favored newcomer of the year. However, by May, meme coin holdings had dropped by almost half to $125 million as institutions took profits.As of May 1, DOGE held the largest share of meme coin holdings among both retail and institutional investors. Institutions allocated 36% of their meme coin investments to DOGE, compared to 24.5% by retail investors. More

The BetFury crypto ecosystem announced a great Cryptodrop. The prize pool of $20,000,000 will be distributed from the end of Q3 to the beginning of Q4. This initiative offers participants the chance to earn cryptocurrencies by completing various tasks. The Cryptodrop pool consists of top-tier crypto and BFG tokens, which have strengthened their position after burning 33% of the total supply and locking 48% of circulation.About the Cryptodrop Cryptodrop involves distributing tokens to users who complete specific tasks. Unlike other projects, BetFury’s Cryptodrop features tokens with established market value. Participants can earn more crypto by accumulating points through various activities.Key Features of BetFury Cryptodrop:Funding and TransparencyBetFury Cryptodrop consists of crypto, which the project has accumulated over a certain period, and 350,000,000 BFG, which is transferred from the Community wallet allocated by the team. Thus, every active Cryptodrop participant has a chance of earning currencies like USDT, ETH, BTC, and BFG. Since the project has been developing in the industry for over four years, it can afford the Cryptodrop with the $20 million pool. Moreover, BetFury has located this round amount on a public address for total transparency.About the Growing BFG tokenBetFury’s Cryptodrop is also an investment in the future prosperity of its native token. BFG has already demonstrated price growth – by 40+% over the last month, according to CoinMarketCap statistics. It’s explained by upgrading a deflationary strategy, which provides for BFG buybacks, locks, monthly burnings, and permanent support for active holders. In addition to transferring 100% of revenue from iGaming activities and crypto functionality to BFG utilities, the BetFury team locked up one billion BFG for 4.8 years. These moves demonstrate the platform’s strong desire to evolve its product and the native token.How to Participate in BetFury Cryptodrop?To take part in the BetFury Cryptodrop, the user must go through a few simple steps:BFG FarmBFG Farm is a unique feature that allows users with the potential to earn free crypto. Users can get up to 96,000 BFG daily depending on the BFG Farm level. These levels can be upgraded by collecting Wager points. To claim crypto, the participant should invite two or more friends and connect to a Twitter account for daily shares.Play Fury Game – Get USDT, BFG & Game Points This 2D runner is the best entertainment for the chance to earn real crypto with gameplay that sets it apart from ordinary tap games. Playing as a raccoon, the participant can collect USDT, BFG, game points, and energy recovery badges The duration of each round in Fury Game is determined by energy that can be pumped up, increasing game levels.Collect Plenty of Points in QuestsQuests are tasks of several types for collecting various points. They are similar to Notcoin Quests but offer more opportunities due to the extensive platform functionality. There are currently four types of Quests:Collecting points allows participants to spin different Cryptodrop Wheels. The Social Wheel activates after collecting 9,000 Social and Referral points, while the BetFury Wheel activates after collecting 3,000 Wager, Earn, or Trading points. These Wheels offer additional points and real currency rewards up to 100,000 BFG. The Social Wheel is for one-time use, whereas the BetFury Wheel can be spun unlimited times, with the tenth spin being a Super Spin that increases all rewards and offers a main prize of up to 1,000,000 BFG.Referral ProgramThe Cryptodrop event includes a Referral Program where participants can earn rewards based on their referrals’ activities:ConclusionBetFury Cryptodrop is a significant crypto event combining unique reward mechanisms and opportunities for both beginners and experienced users. By participating and accumulating points, users have the chance to share in the $20,000,000 prize pool.BetFury is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.ContactAlisia PrestonBetFurypr@betfury.ioThis article was originally published on Chainwire More

(Reuters) – Trading stocks and bonds on blockchains at scale will remain a dream unless a global standard for cross-border activity is established that allows assets to move seamlessly across blockchains, according to a report published on Thursday.So-called tokenised assets – which represent the underlying assets – are exchanged on distributed ledger technology (DLT) that are also used for cryptocurrencies. Banks hope tokenised asset trading takes off as a way to make trading faster, cheaper and more transparent.However, a lack of cohesive global regulation is keeping assets from moving smoothly across different blockchains. Industry executives at an event in Amsterdam this week said progress on tokenising assets was moving slowly, and take-up so far is limited.Client and compliance requirements vary too widely across the globe for a single, fixed solution to meet everyone’s needs, said Georgios Vlachos, co-founder of blockchain interoperability firm Axelar, which co-authored the report.”At the current state of things, different regulatory jurisdictions are progressing at different pace and have different focus areas,” Vlachos said.The report on blockchain-based trading was written by the Axelar Foundation and digital assets risk assessment firm Metrika, with contributions from Citi, Deutsche Bank, Mastercard (NYSE:MA) and Northern Trust (NASDAQ:NTRS).Deutsche Bank said in the report that it was essential to have industry-accepted approaches for risk assessments needed to facilitate adoption. However, “standards developed too prematurely can deprive the industry of better developed solutions or become irrelevant,” said Boon Hiong Chan, Deutsche Bank’s Asia Pacific head of Securities & Technology Advocacy.Northern Trust expects that by 2030 the size of its digital assets market will grow to between 5% and 10% of the $13 trillion of assets it holds under custody.Currently about $85.12 billion worth of assets including government securities, fiat-back stablecoins and commodities are tokenised, according to data from 21.co dashboard on Dune Analytics. More

HOOD stock rose 3% in premarket trading.The move comes as Robinhood, the 11-year-old trading app well-known among retail investors, aims to grow into a comprehensive financial services provider by broadening its product range. By acquiring Bitstamp, which was established in 2011 and holds 50 active licenses and registrations worldwide, Robinhood is set to compete directly with major industry players like Binance and Coinbase (NASDAQ:COIN).Bitstamp is expected to drive the expansion of Robinhood Crypto and will become its first institutional business. Bitstamp’s core spot exchange, which is particularly popular in Europe and Asia, offers over 85 tradable assets and includes services such as staking and lending.“The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp’s highly trusted and long standing global exchange has shown resilience through market cycles,” said Johann Kerbrat, General Manager of Robinhood Crypto. “Through this strategic combination, we are better positioned to expand our footprint outside of the US and welcome institutional customers to Robinhood.”The deal is anticipated to close in the first half of 2025, amid rapid growth in Robinhood’s crypto business as well as regulatory challenges in the U.S. Robinhood’s spokesperson emphasized that the company will continue to engage with regulators as it moves forward with the acquisition. More

HashKey Global May 2024 Monthly Report released, the daily trading volume reached 348 million USD, representing a month-over-month increase of 173%. Launchpool’s first-phase yield rate was as high as 37.68%, which made a notable impact on the market.Launchpool Introduces High APR to the MarketThe first Launchpool surprised the market with a high APR, attracting over 2,157 users who locked assets on the first day. The total amount pledged reached USD 109 million, with an APR of 37.68% during the first settlement period. The highest single-user earnings were 6,500 ZK, making it the most profitable launchpool in the market that month.High Trading volume & High KYC Verification RateHashKey Global experienced a significant 173% increase in daily trading volume, reaching USD 348 million, with a cumulative asset balance of USD 105 million, up 338% month-over-month.In May, 2,763 users participated in mining events, and 1,251 users had a monthly trading volume exceeding USD 5 million. The platform also gained 28,500 new registered users, with 12,810 new KYC applications submitted.About HashKey GlobalHashKey Global is one of the flagship global digital asset exchanges under HashKey Group, offering licensed digital asset trading services to users worldwide. HashKey Global has obtained a license from the Bermuda Monetary Authority with the potential to provide mainstream trading and service products such as LaunchPad, contracts, leverage, and staking.For more details, users can visit global.hashkey.comUsers can us on Twitter, Discord and Instagram.Disclaimer: In compliance with local regulations, HashKey Global does not offer services to individuals in the United States, mainland China, Hong Kong, and certain restricted countries or regions. This material is for informational purposes only and is not intended to be distributed or relied upon by individuals in Hong Kong. This material does not constitute an offer to buy or sell any financial products, nor should it be considered as investment advice. Investing in digital assets involves risks. Investors should not make investment decisions based solely on this press release, but should carefully evaluate their suitability to participate in any investment products based on their own investment experience, investment objectives, financial situation, and other relevant conditions.ContactSenior PR ManagerLuna WangHashKey Globalluna.wang@hashkey.comThis article was originally published on Chainwire More

Mythos Research, a research and advisory firm, has released an in-depth report analyzing Aethir, a pioneering decentralized platform for GPU-as-a-Service (GPUaaS). Published in collaboration with CMC Research, this comprehensive study provides invaluable insights into Aethir’s innovative solutions, technology, strategic partnerships, and market positioning within the rapidly evolving Decentralized Physical Infrastructure Networks (DePIN).The report explores Aethir’s vision of bridging the gap between GPU resource providers and consumers across industries such as artificial intelligence (AI), gaming, and virtualized computing. With $24 million worth of rendering equipment spread across 25 locations in 13 countries, this infrastructure positions Aethir as a marketplace for aggregating GPU resources from enterprises, data centers, miners, and retail GPU providers.By leveraging a diverse network encompassing enterprises, data centers, miners, and retail GPU contributors, Aethir enables seamless pooling and efficient utilization of distributed computing resources. The report provides a comprehensive understanding of Aethir’s disruptive solutions and the significant market opportunities within the decentralized infrastructure landscape. About CoinMarketCapCoinMarketCap is the world’s most trusted and accurate source for cryptocurrency data, comprehensively tracking over 2.4 million cryptocurrencies across 770+ exchanges. As the ‘Home of Crypto,’ its mission is to fuel innovation and make this revolutionary asset class more accessible for all.About Mythos Research Mythos Research is a leading tokenomics advisory firm dedicated to empowering blockchain projects with comprehensive analysis and tailored solutions. Their in-depth report on Aethir underscores their commitment to driving innovation within the dynamic Web3 industry.ContactCoinMarketCap Content/ResearchDavier SongCoinMarketCapdavier.song@coinmarketcap.comThis article was originally published on Chainwire More