Cryptocurrency

Ithaca Protocol has launched its live beta platform, aiming to set a new standard for crypto option markets. Ithaca is a composable options protocol founded by an ex-Goldman Sachs partner and Amber Group executive backed by Cumberland and Wintermute Ventures. Ithaca is the first options platform in the industry to offer executable prices across vanilla options, digital options, option strategies, forwards, and structured products, totaling over 250 prices across strikes and expiries.Ithaca’s key innovation lies in its auction based matching engine; more trades get filled for the same number of orders compared to a standard auction; users are empowered to tailor their exposure for any expected market move as well as desired scenario. For the first time across DeFi, CeFi, and TradFi, users can access advanced financial engineering functionality that was previously reserved for market makers, OTC and exotic desks. Off-chain matching, Arbitrum on-chain settlement and Axelar cross-chain bridging constitute Ithaca’s architecture foundational components.The beta launch follows the completion of Ithaca’s Open Alpha phase and constitutes another step towards decentralization. Soon, on-chain actors will be able to verifiably spin up and run instances of key Ithaca risk-sharing ecosystem components, including the matching, collateral optimization, and VAR engines. Ithaca Protocol has raised 2.8m$ to date, with Cumberland and Wintermute Ventures leading the pre-seed round in q4 2023 and further notable participation by Room40, Andrew Keys, Ghaf Capital, Enjinstarter, Merit Circle, Tradedog, Axelar co-founder Georgios Vlachos, TenSquared managing partner Stan Miroshnik, Woodstock general partner Pranav Sharma, BFF managing partners Mansoor and Aly Madhavji, Existential VC managing partner Yoeri Krom and angel investors Psycho, traderMayne, rookieXBT, and Dentoshi.About Ithaca Protocol Ithaca Protocol is a non-custodial composable options protocol. Its auction based matching engine allows for more liquidity for a given number of orders; users are empowered to tailor their exposure to any expected market move and desired scenario. Ithaca levels the playing field by presenting everyone with direct access to risk sharing engineering with a few clicks.ContactIthaca Protocolpress@ithaca.financeThis article was originally published on Chainwire More

So far, the protocol dedicated for the real estate industry has tokenized 118 assets, including hotels, restaurants, parking lots, healthcare facilities, and apartments across more than 21 countries. Oceanpoint v0.5 also supports real estate tokenization start-ups. Blocksquare’s utility token, BST, powers the Oceanpoint DeFi ecosystem, where users can stake BST and convert it into the governance token sBST. This setup allows community members to support tokenization marketplace operators and earn rewards. The initiative also offers start-ups discounts on Blocksquare’s SaaS solutions to help them launch and grow their ventures. Meanwhile, Marketplace Pools provide a platform for both marketplace operators and community members to engage within the ecosystem.The concept of tokenizing various real-world assets has been around for many years, but recent advancements in blockchain regulation and institutional adoption have accelerated this process.Blocksquare says its legal structure is validated by the first notarized tokenized real estate transaction on the EU land registry, which is a crucial element in its capability to perform secure on-chain operations.This trend is clear in the efforts to tokenize assets like green bonds, as seen with Hong Kong and Societe Generale (OTC:SCGLY) earlier this year. Blocksquare made history by completing the world’s first notarized tokenization of a real estate property in September 2023.Denis Petrovcic, Co-founder and CEO of Blocksquare, stated, “Tokenizing over $100 million in real estate assets across 21 countries highlights the potential of RWA tokenization in bridging investments in traditional assets.”Blocksquare offers SaaS solutions for blockchain-based real estate tokenization to connect investors to real estate opportunities globally. Based in Ljubljana, Slovenia, Blocksquare’s platform enables the digitization of real estate assets, allowing properties to be tokenized and traded on the blockchain and supports the launch of online marketplaces.  More

Cloudbet, a leading crypto casino and sportsbook platform, is experiencing a significant surge in Solana-based transactions, as users increasingly recognize the benefits of the blockchain’s lightning-fast speeds and low fees. While CoinGecko recently touted Solana’s impressive 46x transactions per second (TPS) compared to Ethereum, Cloudbet’s users are taking full advantage of the blockchain’s capabilities to place bets, deposit funds, and receive payouts faster than ever before.Cloudbet’s data reveals a steady increase in Solana transaction volume from late 2023 to May 2024, with an average month-on-month percentage change of +27.85% in 2024. The most significant growth occurred between March and April 2024, with an impressive 46.74% increase. During this period, Solana’s price surged, reaching $190-$200, and analysts predicted the token to exceed $270. January and February 2024 also saw substantial increases of 26.41% and 10.41%, respectively.This sustained growth highlights the increasing popularity and utility of the Solana blockchain and its supported tokens, such as SOL, USDT, and USDC, among Cloudbet users. As more individuals recognize the benefits of Solana’s high-speed, low-cost transactions, they are turning to Cloudbet to enhance their betting experience. Paired with Cloudbet’s all-new Rewards Program, where users can potentially earn rakeback rewards in USDT, the platform is expecting even more transactions on the blockchain.As Solana continues to showcase its impressive performance and Cloudbet continues to integrate more tokens from the Solana blockchain, the platform is well-positioned to cater to the growing demand for high-speed, low-cost betting. About CloudbetCloudbet is a proud pioneer of crypto betting. Since its launch in 2013, the world-leading crypto casino and sportsbook has served hundreds of thousands of users and taken millions of bets, establishing a reputation as the most trusted, secure, and VIP-friendly brand in crypto gaming.Cloudbettors can bet with 30 cryptocurrencies, from Bitcoin and Ethereum and stablecoins like USDC and USDT, to SOL and other popular altcoins. The site is available in 18 languages (including Spanish, German, Italian, French and Japanese).ContactMedia RelationsLeandro RossiCloudbetmedia@cloudbet.comThis article was originally published on Chainwire More

The analysts commented: “First, we note that MSTR remains one of the best ways most equity investors can get exposure to the digital asset given its intelligent leverage strategy. We believe this setup provides the potential for additional premium to spot to re-emerge in MSTR shares. Second, we believe BTC is biased higher given recent approvals of US BTC spot ETFs coming from heavyweight asset managers and the very strong adoption there combined with the recent BTC halving that has constrained supply. We are updating our PT to $2,047. The main drivers of our new PT are continued appreciation of BTC and some revaluation up for the software business. Given MSTR’s current valuation premium to its BTC holdings, we are not assuming this to be an upside driver from current levels.” More

The analysts comment “We see a positive setup for Dell heading into C25 given 1) AI server demand, 2) storage demand driven by an expected IBM (NYSE:IBM) mainframe refresh, and 3) demand from an expected PC refresh. Dell Technologies (NYSE:DELL) World 2024 took place May 20th-23rd where Dell introduced Dell AI Factory and expanded its AI portfolio with 5 new AI-PCs, all-flash file storage, network architecture in addition to AI services offerings. We see these new products supporting Dell’s growth in C25. Reiterate Buy on upside driven by AI servers, PC refresh, and strong capital return with potential S&P inclusion as an additional catalyst.” More

The analysts comment “Given the lowered bar, we expect FDS to deliver roughly in-line 3Q24 results; however, the focus is on the 4Q24 ASV ramp. The company may reiterate FY24 ASV guidance given the solid 2H24 sales pipeline; however, the guidance will not be de-risked due to the elongated sales cycle, end-market weakness, and CSUBS merger headwinds. The timing of the CS-UBS headwinds and potential for Wealth cross-selling remains uncertain. We expect FDS to deliver on the margin guidance of 36.5% but likely lower the expectations for FY25 margins to be roughly flat due to Cloud/GenAI Spend.” More

The analysts comment “Box printed decent results, leading shares flat after-hours. Excluding all the noise from currency movements, billings was essentially in-line, FY25 revenue guidance passed through the Q1 beat, and KPIs were stable. While management remains optimistic on AI driving more E+ adoption, there was little to change our thesis as we await more details on the next higher-priced plan with more advanced AI capabilities (recall this is key to the aspirational 10-15% mid-term growth targets).” More

Ana de Mattos, a technical analyst and trader partnered with Ripio, notes that “even though they have been approved, trading of these ETFs is not yet scheduled because the SEC needs to approve the S-1 filings, which detail the management of the funds,” explains Mattos, who reminds us that these forms are still under review.Last week, the U.S. Securities and Exchange Commission (SEC) requested exchanges to amend their filings and approved the forms on Thursday, the 23rd. “Markets are awaiting final SEC confirmation on the asset managers’ forms, which could happen soon and would be the last hurdle before these products are approved for trading,” points out Manuel Villegas, digital asset analyst at Julius Baer.The market views this trading as almost certain in the short term, which can be observed in some indicators, cites the Swiss group, including the discount on Grayscale’s closed Ethereum Trust and its net asset value, which has dropped from about 20% to 1% in recent days.“At the same time, options markets are showing a clear skew in Ethereum options across all maturities. In fact, there are nearly two call options for every put option,” adds Julius Baer.Although investors benefit from closer spot price tracking with these products, Julius Baer believes the approval is largely priced in.Analysts expect not only a rise in Ethereum, which has already increased by more than 20% in May, but also in other projects related to the technology. According to Mattos, Ethereum continues to face strong buying pressure, with resistance at $4,565 if the flow continues. Beyond this range, the analyst believes the cryptocurrency could surpass its all-time high and reach the first Fibonacci expansion level at $5,454, with short- and medium-term supports at $3,200 and $2,980.At 4:30 PM ET, Ethereum was down 1.03%, at $3,837.43.Julius Baer states that a possible reason for the acceleration of this approval process is the proximity of the American elections and recalls that former President and candidate Donald Trump supports various crypto-related projects, while Biden is expected to decide whether to sign the 21st Century Financial Inclusion and Technology Act, which has been approved by the Republican Party and much of the Democratic Party. “The legislation is expected to promote clarity around digital asset regulation, aiming to provide a framework for service providers,” added Julius Baer.Ethereum is on the verge of reaching its “best moment,” according to Daniel González, Crypto Analyst at Bitso. Among the positive drivers is the greater adoption of technologies enabled by the Ethereum network, which play a crucial role in the development of Web3. Additionally, the expansion of smart contracts, applications that automate transactions, and financial inclusion geared towards decentralized payments are also among the drivers – highlighting the possibilities of the technology.***Want to invest in cryptocurrency exchange stocks? InvestingPro has professional tools to help you invest with confidence and never stay in the dark, such as:Stop investing in the dark! Use the coupon INVESTIR and get an additional discount on the 1 or 2-year Pro or Pro+ promotion. But this offer is for a limited time! Click here and secure your special price now! More