Cryptocurrency

Ambient, recognized for its combination of concentrated and ambient constant-product liquidity pools, will now contribute its real-time price data to the Pyth Network. This move is expected to improve the network’s data quality and security, benefiting the global Web3 development community.Since its launch in mid-2023, Ambient has quickly made a mark on the decentralized finance (DeFi) scene, operating on platforms like Blast, Scroll, Ethereum, and Canto, with over $50 million in total value locked (TVL) and $650 million in transaction volumes.”We are excited to leverage our market data to support the Pyth Network ecosystem,” said Doug Colkitt, Founder of Ambient Finance. “Our contribution of pricing data from our deep, liquid pools is anticipated to heighten the network’s security, efficiency, and transparency in financial data on-chain.”The partnership follows the Pyth Network’s integration with the Filecoin Virtual Machine (VM) in January. The integration enables both Web2 and Web3 entities to access essential financial data. Pyth is already collaborating with over 80 market participants, including prominent names like Jane Street, CBOE, Binance, OKX, and Bybit.With over $2.0 billion in value secured in less than a year, the Pyth Network now offers over 400 real-time price feeds across a diverse range of categories, including commodities, stocks, FX, cryptocurrencies, and now ETFs. The infrastructure of the network supports more than 50 blockchains and facilitates a trade volume exceeding $100 billion.By providing high-fidelity, high-frequency financial market data, Pyth addresses the critical need for accurate and timely data among applications, bridging the gap between on- and off-chain events with smart contracts across any blockchain platform. The network’s data feeds are integral to the operations of crypto desks and trading exchanges, which rely on its platform to obtain accurate, real-time data. More

This trend suggests a strong holding sentiment among investors, with many apparently waiting for even higher prices before they consider selling their Bitcoin holdings.Blockware Solutions analysts highlighted in their latest newsletter that the average U.S. dollar value of on-chain Bitcoin transfers remains significantly lower than the peaks observed during 2021. “Average on-chain transfer volume is well below the 2021 bull market peak. Hardly any value is being moved on-chain,” they noted, highlighting the reluctance among holders to sell at current price levels.Glassnode’s data, which measures the dollar value of Bitcoin transferred on-chain, shows that both the seven-day and 14-day average mean transfer volumes are currently below $200,000—far from the $1 million-plus levels seen in 2021. This decline in on-chain volume is partly attributed to the growing prominence of Nasdaq-listed spot Bitcoin ETFs, which have concentrated spot volume away from the blockchain.Other indicators also reflect a strong ‘hodl’ pattern among investors who weathered the 2022 bear market. For instance, the percentage of Bitcoin supply last active between three and five years ago is on the rise. Several analysts are predicting that Bitcoin’s price could rally into six figures in the coming months, with some setting their targets above the $150,000 mark.”Once we see the price really start to move, that’s when on-chain volume will surge. Older coins will move to exchanges to be sold. Until then, low on-chain volume is a sign of supply-side illiquidity,” Blockware analysts explained.At press time, Bitcoin was trading at $67,700, up 5% on a 24-hour basis. The broader market, as measured by the CoinDesk 20 Index, also saw a 5% uplift, reflecting a cautiously optimistic sentiment across the cryptocurrency sector. More

Bitcoin reclaimed the $67,000 mark for a brief period, before paring some gains to trade 2.5 higher on the day at $66,893.7 by 07:29 ET (11:29 GMT).The world’s largest cryptocurrency tumbled from record highs over the past week, sinking as low as $60,000 as traders locked-in profits from a recent melt-up to record highs.But the token rebounded sharply from those lows as capital flows into the recently-approved spot exchange-traded funds remained robust. However, sustained outflows from Grayscale Bitcoin Trust (BTC) (NYSE: GBTC) provided some pressure on spot Bitcoin prices.Anticipation of the upcoming “halving” event, where the Bitcoin network’s generation of new tokens will be slashed by 50%, also kept buying interest in the cryptocurrency upbeat.The halving event is expected to occur some time in April with the generation of the 740,000 block, and is likely to further limit Bitcoin supply. But markets remain unclear over the exact timing of the event.Still, a bigger recovery in Bitcoin price was largely limited by strength in the dollar. The greenback raced to a one-month high on Monday as dovish signals from major global central banks saw investors largely favor the dollar as the only high-yielding, low-risk currency.Anticipation of more signals on U.S. interest rates- from key personal consumption expenditures data, which is the Federal Reserve’s preferred inflation gauge- also kept the dollar upbeat. The data is due this Friday.A string of Fed officials are also set to talk through this week, offering up more cues on the bank’s plans for interest rate cuts in 2024. Last week’s Fed meeting showed the central bank still saw 75 basis points worth of cuts this year.From a broader perspective, the crypto market’s positive start to the week was also helped by BlackRock’s latest foray into asset tokenization. Dubbed ‘BUIDL,’ the world’s largest asset manager’s tokenized asset fund will be built on the Ethereum network. It represents BlackRock’s first-ever tokenized fund issued on a public blockchain.Moreover, the upward momentum of Bitcoin may also be influenced by a slowdown in selling pressure from the Grayscale Bitcoin Trust (GBTC). Analysts cite Genesis’ sale of shares as a contributing factor to the decrease in GBTC outflow, thus contributing to BTC’s rise.Lastly, the latest macro indicators continue to paint a bullish picture, with the Swiss National Bank (SNB) making an unexpected move by lowering the benchmark interest rate, signaling the start of a global easing cycle.Joining this trend, the Central Bank of Mexico also implemented rate cuts, while the Fed, the European Central Bank, and the Bank of England are expected to make similar moves in the coming months.[Ambar Warrick contributed to this article] More

Stablecoins are digital tokens that are designed to keep a constant value and are backed by traditional currencies. A stablecoin can be based on various different blockchains.Last month, Boston-based crypto firm Circle said it would no longer create its USDC tokens on the Tron blockchain, a decision it said “aligned with its efforts to ensure that USDC remained trusted, transparent and safe”.Binance said it would end support for the stablecoin via the Tron blockchain from April 5 at 0200 GMT.Users can continue trading USDC on Binance, while deposits and withdrawals of USDC via other supported networks will not be impacted, Binance said in a blog post.Tron did not immediately respond to a Reuters request for comment.Tron founder Justin Sun, a prominent crypto entrepreneur, was sued last year by the U.S. Securities and Exchange Commission for allegedly artificially inflating trading volumes and selling Tron tokens as an unregistered security. Sun said the SEC charges “lack merit”.With around $32.1 billion in circulation, USDC is the eighth largest cryptocurrency and second-largest stablecoin, after Tether.Most of the USDC in circulation is based on the Ethereum blockchain, according to Circle’s website. In February, before Circle ended support for Tron-based USDC, there was around $335 million USDC hosted on Tron.In November, Reuters reported, citing interviews with financial crime experts and blockchain investigation specialists, that Tron had overtaken Bitcoin as a platform for crypto transfers associated with groups designated as terror organisations by Israel, the United States and other countries.In response to that article, a Tron spokesperson said it did not have control over those using its technology, and that it was not linked to the groups identified by Israel. More

DigiFT, the first licensed exchange for on-chain real-world assets, announced the launch of the first ever U.S. Treasury Bill depository receipt tokens that represent direct beneficial ownership in the underlying U.S. Treasury Bill.Depositary receipts (DR) are a well-tested structure in traditional finance and was first introduced in the late 1920s when J.P. Morgan created the first American Depositary Receipt (ADR) to facilitate trading of the shares of British retailer Selfridges on the New York Stock Exchange (NYSE). The 1990s saw further expansion in the use of depository receipts, including the introduction of Global Depositary Receipts (GDRs) by international banks for investors outside the United States.By deploying the DR structure on-chain, DigiFT is proud to have pioneered a token issuance model that addresses a critical market challenge with Real World Asset (RWA) tokenization: the absence of a robust legal framework that enables “tokens” to accurately and, importantly legally, represent the direct beneficial interest of token holders in the underlying asset while facilitating settlement on-chain.Presently, the majority of RWA tokens in circulation are wrapped tokens that represent interest in a special purpose vehicle, feeder fund or derivative instrument which holds or mirror the underlying assets. These wrapped tokens are often structured in complex legal arrangements, making it challenging for investors to fully comprehend the legal implications. Token holders have limited or no direct beneficial claim on the assets they are investing into. In contrast, Tokens issued under DigiFT’s DR structure offer a much more straightforward legal framework, making it easier for investors to understand. The tokens represent a fractional beneficial interest in the underlying capital market securities, allowing investors to legally lay claim to and directly benefit from the economic returns generated by the underlying assets.As the first RWA exchange on the public blockchain to be licensed by a Tier-1 financial regulator, DigiFT combines deep financial and deep technological expertise to offer regulated financial solutions on-chain. The DigiFT U.S. Treasury Tokens (DRUST) is the first offering of a series, under the DR structure. Each DRUST is directly backed by AA+ rated, highly liquid and short-term U.S. Treasury Bills, tailor-made for stablecoin issuers and Web3 product developer / managers seeking regulatory compliant treasury as well as cash management solutions. Institutional and accredited investors can access DRUST from their authorised self-custodial wallets using fiat or stablecoins anytime anywhere.Henry Zhang, Founder and CEO of DigiFT said, “DigiFT’s innovative DR structure addresses a pain point in the current RWA market, empowering investors with direct ownership of underlying assets and returns. Looking ahead, DigiFT remains committed to expanding the universe of traditional financial assets in the Web3 space through the DR model, offering better investor protection and transparency.”Disclaimer: This article is not an advertisement making an offer or calling attention to an offer or intended offerAbout DigiFTDigiFT is the first regulated exchange for on-chain real-world assets, approved as a Recognised Market Operator with a Capital Markets Services license by the Monetary Authority of Singapore. DigiFT allows asset owners to issue blockchain-based security tokens and investors can trade with continuous liquidity via an Automated Market Maker (AMM).Established in Singapore in 2021, DigiFT is fully committed to meeting regulatory requirements to operate in the capital markets space in Singapore, while providing innovative financial solutions that push the boundaries of financial services in a responsible manner.DigiFT’s founding team comprises executives who have held positions within the finance and fintech worlds at Citi, Standard Chartered (OTC:SCBFF), Morgan Stanley, Shenzhen Stock Exchange and possess deep blockchain technology knowledge, having successfully developed digital asset exchange and products in the past.For media inquiries, please contact:[email protected] HeadEvelyn [email protected] article was originally published on Chainwire More

The PlayDapp Team announced on March 25 that it plans to launch its long-awaited blockchain mainnet scheduled for April 11 to foster the development and expansion of its ecosystem.PlayDapp has decided to launch its mainnet through the Avalanche subnet to expand its Web3 business. As a result, PlayDapp will move away from supporting the existing public multi-chain to operate an independent chain with self-verification nodes as its mainnet.Avalanche is known for its low transaction costs and high scalability, offering improved scalability through a subnet structure that allows for the creation of customized blockchains tailored to specific enterprises.Notably, PDA tokens issued as ERC-20 tokens on the Ethereum chain will be swapped to PlayDapp mainnet tokens (PDA) via bridging, serving as the native currency. This will facilitate various services and be used as a transaction fee processing on the mainnet, enhancing user convenience significantly.Users will no longer need to pay gas fees in Ethereum (ETH) or Polygon (MATIC) for PlayDapp services. Instead, PDA will play a crucial role as the native currency across PlayDapp’s tournaments, marketplace, and play-to-earn (P2E) game services.Mikey NFT holders will be able to migrate their NFTs to mainnet and will receive instructions on how to do so. Stakers will benefit from this launch as they will be able to receive regular in-game item drops for their upcoming P2E game. They’ll also receive discounts on transaction on transaction fees in their marketplace as well as be able to participate in their DAO game.In addition, PlayDapp plans to introduce a DAO game as part of the activation of the DAO. This is expected to be beneficial in helping DAO participants understand the voting and reward system through game participation. By actively involving the community in decision-making and creating a synergistic relationship between decentralized governance and gaming, PlayDapp aims to create a more engaged and vibrant ecosystem.By connecting with various gaming companies and NFT projects, PlayDapp has demonstrated its ability to innovate and provide unique solutions for the blockchain gaming industry. The team behind PlayDapp consists of experienced developers, game designers, and business professionals with a strong track record in both traditional and blockchain industries, this gives promising potential for the road ahead.Looking ahead, PlayDapp has outlined its roadmap for the remainder of the year, with significant developments slated for the second quarter of 20242024. 4.11: Scheduled PlayDapp Mainnet Launch (Subject to change).As alluded to earlier, PlayDapp is set to launch its mainnet scheduled for April 11, 2024. This will be a significant milestone for the company as it marks the official start of their decentralized governance system and NFT interoperability services. Users will be able to participate in staking, voting, and NFT trading on the mainnet, making it a truly decentralized and community-driven platform.2024. 2Q: 1. EZ PlayAs a revamped web3 mini game platform (aka tournaments) with new games and a new UI/UX to onboard the next wave of casual gamers to web3, EZ Play will define the core of PlayDapp’s user base. The team has changed the UX to allow users to easily participate in the game without separate logins and wallet connections. Existing P2E will also continue to support faster transactions and lower gas costs with the introduction of the mainnet.2024. 2Q: Launch of Marketplace Plus● Issuing exclusive NFTs serviced on the PlayDapp Mainnet to facilitate trading● Introduction of an aggregator – access and compare market data● Streamlining the process of buying NFTs and supporting bulk trading featureWith a dedicated marketplace, users will have a seamless experience buying and trading NFTs within the PlayDapp ecosystem. The marketplace will also serve as a platform for creators and artists to showcase and sell their unique NFTs.2024. H2: Launch of a New P2E Mobile GameWith more and more gamers shifting towards mobile gaming, PlayDapp plans to launch a new genre game that will be integrated with the PlayDapp Mainnet. This enhanced P2E model will offer a more immersive and rewarding experience for players, as well as increased accessibility through mobile devices. The game will set a new standard for blockchain gaming, combining traditional game elements with the power of web3 technology.Throughout 2024: Ongoing Partnerships & Collaborative ProjectsIt’s no secret that many companies are eager to work with PlayDapp, and 2024 will see even more partnerships and collaborations. The team is actively seeking out opportunities to expand the functionality and reach of the PlayDapp ecosystem. From joint development projects with other blockchain platforms to strategic alliances with major gaming companies, there are endless possibilities for growth.The future is bright for PlayDapp as this launch on mainnet makes the entire ecosystem more efficient while their P2E hyper casual game platform called Ezplay will empower players to receive PDA Tokens directly on the mainnet. This will eliminate the need for players to use matic or eth for gas, making their gaming experience seamless and hassle-free.Furthermore, their upcoming marketplace creates an economy for their P2E game, providing a platform for gamers to buy and sell their unique in-game assets securely. As PlayDapp continues to grow and evolve, the possibilities for innovation and growth are endless. The launch of the mainnet is just the beginning, and we can’t wait to see what other groundbreaking developments are in store for the PlayDapp ecosystem.Social Media Links:Twitter: https://twitter.com/playdapp_ioMedium: https://playdapp.medium.com/CoinMarketCap: https://coinmarketcap.com/community/profile/PlayDapp_IO/Binance Square: https://www.binance.com/en/feed/profile/PlayDapp_ioContactHead of MarketingPeter [email protected] article was originally published on Chainwire More

Highlighting concerns over government spending and borrowing, Novogratz sees Bitcoin as benefiting from the US’s fiscal indiscipline. “What’s the macro story for bitcoin?” said Novogratz. “It’s relatively simple. Our government can’t keep its pants on and stop spending money. That went from a problem in the early 2000s to a crisis with Donald Trump and Joe Biden. They go down as the two presidents who destroyed our fiscal stability.”With national debt surpassing $34 trillion and the government’s spending reaching 25% of GDP, the cryptocurrency, according to Novogratz, stands as a safe haven against potential inflation and debt debasement. This viewpoint aligns with growing investor interest in Bitcoin as a hedge against fiscal uncertainty. Novogratz, a long-time Bitcoin enthusiast since its early days, also noted the spike in government expenditure during the Trump and Biden administrations, emphasizing the normalization of structural deficits. “Until you see a government, both Dems and Republicans, that says ‘enough,’ bitcoin’s going to keep going higher,” Novogratz said.Bitcoin fell 3% in the past 24 hours and was sitting just above the $63,500 level at the time of writing. More

Minutes Network, the world’s first blockchain-based wholesale, DePIN voice carrier, with its, unique close to zero termination cost model unveiled more of its innovative technology today, showcasing its proprietary Mintech Rapid Growth Library (MRGL), and its power to exponentially grow the Minutes Network user base with unprecedented pace.Josh Watkins, CEO said “The MRGL is housed in the Minutes Network SDK, and when this is integrated into a third-party mobile application, Minutes Network absorbs the application’s unique userbase. With the capacity to seamlessly onboard millions at the press of a button, Minutes Network has the potential to become the world’s largest telecommunication voice-network by userbase.”The MRGL makes Minutes Network ideal for global-scale applications with billions of users, giving them instant access to a brand new monetisation method.Watkins added “We have our first scale implementation agreed and this will bring over 1.2 billion users to Minutes Network over the next couple of years. For perspective, the largest network by user base today is China Mobile (NYSE:CHL) and they have 850 million subscribers.”Watkins was keen to highlight whilst scale apps bring massive coverage Minutes Network is open to working with apps of smaller sizes too. “Our revenue share opportunity is available to any application that can bring Minutes Network 50,000 unique users or more.”Watkins expanded on this. “Usually, when networks seek to build out scale they are tied to, expensive B2C marketing approaches, this is seen as a standard cost of doing business. The MRGL sidesteps this creating a new high-precision, pay-to-play, B2B model.By revenue sharing with mobile applications, we further leverage our lowest cost termination model. In comparison with the traditional way telcos build scale, we get access to a huge user base, and only pay for the traffic we terminate over any application.”With the combined advantages of a unique, proprietary zero-cost/high-margin termination model and the MRGL, Minutes Network is primed to reimagine and reconfigure the $251 billion wholesale voice terminations market.Minutes Network is partnered with Minutes Network Token (MNT) creating a new DePIN initiative encompassing a sharing economy based on the voice industry minutes commodity market. All Minutes Networks net-revenues are used to buy back MNTs from the open market for redistribution as rewards to network participants.About Minutes NetworkMinutes Network operates in the $251 billion paid-for voice calling market. Our proprietary, next-generation, technologies deliver the lowest-cost termination charges in the market.Minutes Network Token (MNT) uses blockchain technologies to decentralise the global scale, multi billion dollar, telecommunications commodity minutes market. MNT tokenises bandwidth and distributes value to Minutes Network participantsFor more information users can go to minutesnetworktoken.io or join the MNT community on telegram https://t.me/minutesnetworktokenContactCEOJosh WatkinsMinutes [email protected] article was originally published on Chainwire More