Cryptocurrency

The rangebound trading comes amid tepid flows into the U.S.-based spot Bitcoin ETFs and increased outflows of Grayscale’s GBTC fund. Europe and U.S. stock markets will remain closed on Friday, March 29, in recognition of Good Friday.Cryptocurrencies saw a modest rally earlier in the week, with Bitcoin (BTC) price soaring above $70,000 for the first time in ten days. This marks a rebound from recent downturns, scoring a more than 7% increase for the week. Ethereum (ETH) also enjoyed gains, rising by 6% in the same timeframe. Short-term intraday traders probably viewed the dip as a chance to buy into Bitcoin at an attractive entry point, creating a widespread sentiment that the worst of this downward correction is firmly in the past.The positive momentum wasn’t limited to Bitcoin and Ethereum; major layer-1 blockchain tokens such as Solana (SOL) and Avalanche (AVAX) saw advances exceeding 10%. The comeback resulted in the liquidation of $195 million in leveraged derivatives positions across various cryptocurrencies, with around $129 million of these betting on falling prices. Bitcoin short liquidations amounted to $53 million, which is below the average daily total seen in the recent weeks.The modest number of short liquidations despite the price increase indicates that few traders were betting against the market with leverage, expecting further downturns. The price jump this week may mark the end of the downturn cycle in the cryptocurrency market, which saw Bitcoin’s value fall below $61,000 from highs above $73,000. Bitcoin might be setting its sights on new record highs after it breaks out from a consolidation pattern it has formed on the daily chart. The upside scenario is supported by a number of central banks adopting a more dovish stance toward the monetary policy, which is expected to favor Bitcoin.Despite the recent swings in the crypto market, analysts are still positive about Bitcoin’s future prospects.Markus Thielen, CEO of 10X Research, recently posted an analysis on the X platform, hinting at a possible Bitcoin price rally. His analysis particularly focuses on Bitcoin’s performance history in April, suggesting the cryptocurrency might see a 12% increase.Thielen points out that April has historically been a good month for Bitcoin, with six out of the last ten years showing strong price gains. Furthermore, the current fluctuations in Bitcoin’s value are being linked by some analysts to the pre-halving phase. Experts note that the pre-halving retracement, a pattern found in past data, highlights Bitcoin’s volatility, which often leads up to substantial price surges. More

The leading modular layer 2 blockchain for real-world assets (RWAs), Plume Network, has announced that they have partnered with Coinbase (NASDAQ:COIN) Wallet. This Smart Wallet integration means enhanced security, smoother transactions, and seamless access to the RWA ecosystem for all Plume users.Coinbase’s SDK seamlessly integrates within the Plume ecosystem, and boasts several benefits:About Plume NetworkPlume is the first modular L2 blockchain dedicated for all real-world assets (RWAs) that integrates asset tokenization and compliance providers directly into the chain. Our mission is to simplify the convoluted processes of RWA project deployment and offer investors a blockchain ecosystem to cross-pollinate and invest in various RWAs. In addition, Plume enables RWA composability through its thriving DeFi applications and provides access to high-quality buyers to increase liquidity for all tokenized RWAs.ContactCEO, Co-FounderChris YinPlume [email protected] article was originally published on Chainwire More

Cryptocurrency scams are rampant, costing victims billions. A shocking report by the Federal Trade Commission (FTC) reveals that since the beginning of 2021, over $1 billion has been lost to crypto scams, a staggering figure representing more than one out of every four dollars reported lost in scams. In this Wild West of finance, trust is hard to come by. As the famous investor Warren Buffett said, “It takes 20 years to build a reputation and five minutes to ruin it.” The blockchain technology, with its anonymous nature, exacerbates this issue.Enter Goat.Tech: The Solution for Decentralized Trust and ReputationGoat.Tech throws open the doors to a future where “your reputation is your currency”. Goat.Tech aims for a world where financial stability and the trust of others pave the way for success on the blockchain. Goat.Tech introduces an on-chain, real-time reputation standard that reflects a user’s present financial stability and potential value generation. This revolutionary Trust Score is transparent and visible to everyone, allowing users to make informed decisions about who to trust.Trust Score: The Centerpiece of EverythingGoat.Tech’s roadmap takes a two-pronged approach to building trust in the Wild West of crypto. First comes the Goat Dapp, a gamified social-financial platform where users stake ETH to boost each other’s Trust Score and compete for the Greatest of All Time (GOAT). This not only incentivizes positive behavior but also unlocks the power of Trust Scores for everyone in the Web3 space, from KOLs and investors to regular users. Looking ahead, Goat.Tech plans to introduce Goat L2, the first-ever Layer 2 designed specifically for on-chain reputation. This innovative system is designed to restake the user’s ETH with the aim of optimizing potential yields, while simultaneously building its reputation and increasing its ETH balance. By starting with a gamified approach of Goat Dapp and then transitioning to the advanced features of Goat L2, Goat.Tech creates a secure and trustworthy environment for everyone to thrive. Goat.Tech plans to introduce Goat L2, the first Layer 2 designed specifically for on-chain reputationTrust Score is the foundation of every Goat.Tech feature and interaction. The higher the Trust Score a user achieves, the more $GOAT tokens are generated for individuals who stake in their pool. This, in turn, attracts more people to stake in the user’s pool, facilitating instant earnings for the user, which further increases their Trust Score, and so forth. This virtuous cycle fosters a transparent and secure environment. Goat.Tech aspires to make Trust Score the standard, transforming the blockchain into a more trustworthy space.Trust Score is the foundation of every Goat.Tech feature and interaction.KOLs: Leaders of the RevolutionKOLs (Key Opinion Leaders) are the tastemakers of the crypto world. With Goat.Tech, their reputation becomes their most valuable asset. The higher their Trust Score, the more they can earn. This incentivizes genuine, trustworthy KOLs to build strong followings. Goat.Tech isn’t just a platform to monetize reputation; it’s a place where KOLs can build loyal communities and solidify their influence in the ever-evolving Web3 landscape.ConclusionThe trust revolution starts now! Goat.Tech’s Mainnet launch is on the horizon, offering a groundbreaking solution for the Wild West of crypto.Users are invited to follow Goat.Tech, join the movement, and explore the future of on-chain reputation on Goat.Tech’s website.Users can join Goat.Tech Telegram and follow Goat.Tech on Twitter.ContactMARKETING MANAGERPR MANAGERGOAT [email protected] article was originally published on Chainwire More

MetaWin, the trailblazing platform for on-chain prize competitions, is delighted to announce the incorporation of the Base and Arbitrum Layer 2 (L2) blockchain networks into its on-site swap feature.This ground-breaking update represents a significant milestone in MetaWin’s quest to deliver an unmatched gaming experience, offering faster transactions and substantially reduced fees for its users. By embracing the capabilities of the Base and Arbitrum L2 chains, MetaWin not only improves its platform’s efficiency but also solidifies its position as an innovator in the blockchain gaming industry.The integration enables users to effortlessly deposit and withdraw funds on either chain or across chains, providing the flexibility to select the preferred network for receiving winnings. Transaction times have been dramatically slashed to just 2 seconds for inbound swaps and 20 seconds for outbound swaps, paired with gas fees as low as half a cent USD for swapping (theoretically) an unlimited amount.The introduction of Base and Arbitrum L2 support signifies more than just an upgrade; it heralds a revolution. MetaWin takes pride in leading this innovation charge, offering a more accessible, affordable, and faster gaming experience. By mitigating the barriers associated with high transaction costs and slow processing times, MetaWin not only expands its user base but also fortifies the blockchain ecosystem.”We are excited to lead the way in leveraging the latest blockchain technology to benefit our users,” said Rebecca Hanwell, Operations Manager at MetaWin. “The integration of Base and Arbitrum L2 chains underscores our commitment to innovation and our vision for a future where blockchain gaming is mainstream, accessible, and affordable for everyone. Given the remarkable results observed here, we will continue to integrate the remaining Layer 2 chains.”This strategic update aligns with MetaWin’s ongoing endeavour to democratize access to on-chain prize competitions, ensuring that players worldwide can participate without the burden of exorbitant fees or sluggish transaction speeds. The decentralized competitions will also transition to leverage the L2 chains as early as next week.As MetaWin continues to push the boundaries of what’s achievable in blockchain gaming, it remains steadfast in providing a secure, transparent, and efficient platform for its global community.Users can try the new swap system by connecting their Web3 wallet to MetaWinAbout MetaWinMetaWin is the premier platform for on-chain prize competitions and instant win games, offering a diverse range of entertaining challenges for users to enjoy. By harnessing cutting-edge blockchain technology, MetaWin provides a transparent, fair, and secure gaming environment, making it the go-to destination for blockchain enthusiasts and gamers alike.For more information about MetaWin and its latest integration, please visit www.Metawin.comFollow us on social media:https://www.instagram.com/metawin.eth/Join our community:https://t.me/metawinlfghttps://discord.com/invite/the-arenaContactPR [email protected] article was originally published on Chainwire More

The sentencing, announced by Judge Lewis Kaplan in a Manhattan Federal court, marks a significant chapter in the saga surrounding the downfall of the once-prominent cryptocurrency figure. Bankman-Fried’s sentencing follows a monthlong trial in November, during which he was found guilty of seven charges tied to the collapse of FTX and the disappearance of approximately $10 billion in customer deposits. While prosecutors had requested that SBF spend 40 to 50 years in prison, reports stated the defense team had argued for five to six years in jail based on the hope that FTX customers would be able to recoup most, if not all, of the money they lost when the exchange spiraled into bankruptcy in 2022.Last month, lawyers representing FTX’s bankruptcy estate told a Delaware judge that they expect to fully repay customers and creditors with legitimate claims, although there is still a great amount of work and risk ahead in getting all the money back to clients. In the end, Bankman-Fried was sentenced to 25 years in prison for the fraud and conspiracy scheme that resulted in the bankruptcy of his once prominent crypto exchange. SBF was also fined $11 billion.Judge Kaplan stated that Bankman-Fried never presented “a word of remorse for [the] commission of terrible crimes.”The decision was made by the judge after a two-hour hearing in a Manhattan courtroom where prosecutors, Bankman-Fried himself, Bankman-Fried’s attorney, a victim, and a lawyer who spoke on behalf of other FTX victims made comments.”Sam Bankman-Fried’s 25 year prison sentence signifies the end of one of crypto’s worst cases of fraud and conspiracy to date,” John Carter, Crypto Public Relations Executive, told Investing.com.”The impact of FTX’s insolvency on the crypto ecosystem will forever be remembered as the defining catalyst of the previous crypto winter. The decision marks the end of an era and will hopefully be a step closer to broader crypto regulation through meaningful precedent.”In a statement, Damian Williams, U.S. Attorney for the Southern District of New York, said: “Samuel Bankman-Fried orchestrated one of the largest financial frauds in history, stealing over $8 billion of his customers’ money.””Today’s sentence will prevent the defendant from ever again committing fraud and is an important message to others who might be tempted to engage in financial crimes that justice will be swift, and the consequences will be severe.” Bitcoin price is up more than 3% on the day. More

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.CEO, Russell Bennett, forecasts a series of landmark announcements across Q2 and Q3, 2024. Commencing with the appointment of an advisory board. Jamie King, Dan Hibell, Elly Bradbury, and Anders Christiansen combine premium Web2-Web3 commercial nous to spearhead Metacade’s expansion across Talent, Product, Utility, and Engagement.As blockchain games gear up to embrace one billion players, Metacade will mobilize advancements in game development. Fostering stronger bonds between games and experienced Web3 players, through immersive tournaments designed to improve gameplay. Metacade is a seamless Web3 Gaming platform connecting developers and players through plug-and-play community initiatives. Providing an unfair advantage through early access, dev-player collaborations, and financial rewards.ContactElly [email protected] article was originally published on Chainwire More

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.Sui, the fast ascending Layer 1 blockchain offering industry-leading performance and infinite scaling, continued to demonstrate its blistering DeFi growth by cementing its place in the top ten of all chains by weekly DeFi volume, registering over $830M of trading over the most recent seven days of data available on DeFiLlama and $224M in the latest 24 hours. The volume growth comes as the chain has amassed several DeFi milestones since the start of the year, including surging past $700M in total value locked (TVL) earlier this week – up over 1900% since October – and dominating outflows from Ethereum via Wormhole during multiple seven-day periods this year. Sui is also setting the standard for network reliability during periods of high network traffic. In the first four months of its mainnet, Sui completed 65.8M transactions in a single day—the most of any blockchain ever, while throughout its existence, the network has never had an outage or experienced degraded performance. These milestones reflect how Sui’s underlying technology, which features an object-centric model, horizontal scalability, the increasingly popular, developer-friendly Move programming language, and recent breakthroughs such as zkLogin and zkSend, enables developers to create products that solve real-world challenges at scale. Sui’s technology has also attracted top projects and developers which are increasingly choosing to build on Sui. Most recently, Suilend, a protocol developed by the team behind Solana’s largest lending protocol, Solend, launched in its first expansion outside the Solana ecosystem. Ondo Finance’s treasury-backed assets also recently made their way into the ecosystem, while decentralized derivatives exchange Bluefin left Arbitrum for Sui. DeepBook, Sui’s fully on-chain order book, which is part of the Sui Protocol, has experienced a substantial volume increase in March as DeFi on the network continues to flourish. The CLOB saw over $940M in volume since the start of the month, and over $289M of trading in the last week alone, as it continues to provide deep liquidity to all DeFi protocols and traders on Sui with ultra-low, predictable transaction costs and sub-second finality.“From the Move language to its object-centric architecture, Sui’s technology is unique in the industry and enables a level of innovation that is attracting partnerships, protocol expansions, and independent developers—all building solutions that leverage the Sui network,” said Greg Siourounis, Managing Director of the Sui Foundation. “Sui’s surging metrics in DeFi indicate definitively that in an industry which is currently surging and primed for cutting-edge technology and practical, real-world applications, Sui is increasingly the platform of choice.”ContactSui [email protected] article was originally published on Chainwire More

CARV, the modular data layer for gaming and AI, today announces the final approval of ERC-7231 – the protocol that establishes a revolutionary system of data self-sovereignty, empowering users to possess, manage, and contribute their information to both AI systems and data consumers, thereby enabling the equitable sharing of generated value.Ethereum Community greenlighting the standard is a major step in bridging disparate digital identities and enabling users to own their online history, relationships, and experiences across platforms.ERC-7231 binds multiple Web2 and Web3 identities to a single non-fungible token (NFT) and achieves encrypted aggregation of multi-domain identity data. The result is an “identity of identities” that enables self-authentication, social overlapping, and commercial value generation from targeted user data.Case in point: CARV ID is integrated with the standard and already empowering users to manage their digital presence across the gaming universe with ease and confidence. More than 900,000 CARV ID holders are playing their favorite games and earning rewards across CARV’s comprehensive ecosystem, which spans from its foundational data stack, its gaming-focused application layer, to the increasing list of games integrated with CARV ID. CARV has also developed an AI Agent in house, where more nuanced data can be scrapped in a privacy-preserving way and attributed to CARV ID. Entities building on CARV’s modular data layer, such as MARBLEX which recently just announced their strategic partnership with CARV, can tap into this rich data source for game and AI development. ERC-7231 is “the key to stringing everything together,” said Yu.Understanding gamers today is increasingly difficult due to app tracking changes (IDFA) and shifting privacy regulations (CCPA). With ERC-7231, users can not only aggregate, own, and control their identities, but gaming and AI companies can leverage this zero- and first-party data to create customized experiences and more accurately target gamers.For example, according to the company, improved user acquisition was the aim of Electronic Arts (NASDAQ:EA) and its latest game, EA Sports FC Tactical, in Indonesia. Utilizing CARV as one of the primary channels for user acquisition, EA recently recruited Indonesian gamers for the beta test at a lower Cost Per Install (CPI) than traditional channels. Better yet, the game can better understand each gamer and their history thanks to ERC-7231’s aggregated data from multiple gaming accounts.CARV is the largest modular data layer for gaming and AI, revolutionizing how data is used and shared. CARV ensures privacy, ownership, and control are firmly in the hands of individuals and provides gaming and AI development with holistic and high-quality data reinforced with human feedback in a regulatory-compliant, trustless way. To pioneer a future where data generates value for all, CARV has built CARV Protocol, the modular data layer integrated with 40+ chain ecosystems, and CARV Play, its flagship gaming superapp. CARV has more than 2.5 million registered users and 700 integrated games.For more information users can visit here or stay in the loop here.ContactCofounder & COOVictor [email protected] article was originally published on Chainwire More