Monat: Dezember 2023

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Did you miss Pepe and Bonk? Memeinator (MMTR) could be next

Bitcoin price has done well this year as it jumped by more than 166% from its lowest point in December 2022. Other big tokens like Solana, Avalanche, and Immutable have done even better as they rose by over 200%.

However, meme coins like Pepe and Bonk have been the best-performing players in the crypto industry. Bonk the Solana meme coin launched in December, has surged by more than 6,000% from the lowest point in 2023, pushing its total market cap to over $732 million.

Pepe, a new meme coin launched a few months ago, has a market cap of over $575 million. This means that many people have become millionaires by investing in these two tokens, which have no utility. 

It also means that meme coins are not dead yet as most analysts were expecting. Indeed, coins like Shiba Inu and Dogecoin have a combined market cap of over $19 billion. This makes them bigger than some of the best-known companies in the world like Deutsche Bank, Zillow, and AllianceBernstein. 

Memeinator could be the next big thing

Memeinator, an upcoming cryptocurrency, could be the next big thing in the meme coin industry. The project, which is still in the presale period, has already raised over $1.9 million in the past few months. If this trend continues, the meme coin will get to its target of over $2.1 million in the next few weeks.

Memeinator has achieved this success because of the ongoing crypto rally that has pushed the combined market cap of all digital coins to over $1.6 trillion. It has also raised these funds because of the incentives offered by the developers.

For example, they have launched their staking platform that offers an APY of 45%. Over 7.1 million tokens have been staked and over 36,517 rewards paid out. This is a strong performance for a service that was launched recently. Over 21.5 million $MMTR tokens.

The other reason why Memeinator has done well is because of its promotion that will see a lucky person win a trip to space using Richard Branson’s Virgin Galactic product. That trip alone will be worth over $250k. You can buy the Memeinator token here.

AI and meme coin trends

Memeinator aims to be a successful cryptocurrency by combining the concept of meme coins and artificial intelligence (AI). Meme coins have jumped sharply while AI has been the biggest theme in the market this year. AI companies like ChatGPT and Anthropic have become multi-billion dollar entity this year.

There are several reasons why Memeinator token will likely do well in 2024. First, from a macro level, central banks are set to start cutting interest rates in 2024, which is a good sign for the crypto industry.

Second, Bitcoin is set to continue rising ahead of the halving event scheduled for April 2024. In most cases, BTC tends to do well ahead of the halving event. Altcoins do well when Bitcoin is rising. 

Finally, there is a high possibility that the Securities and Exchange Commission (SEC) will approve a Bitcoin ETF. 

The post Did you miss Pepe and Bonk? Memeinator (MMTR) could be next appeared first on CoinJournal.

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Pi Network to launch decentralised moderation feature on Fireside Forum

  • Pi Network has announced ‘Decentralized Moderation’ on Web3 social platform Fireside Forum.
  • The feature is geared towards incentivising better Web3 social interactions.
  • Fireside Forum was launched in June this year.

Pi Network has announced plans for the launch of a new feature dubbed “Decentralized Moderation” the Web3 social platform Fireside Forum.

Fireside Forum’s decentralised moderation feature

In a blog post on December 12, the Pi Network team said “Decentralized Moderation” is currently in the development phase. When it rolls out, it will bring decentralised social content moderation to users, incentivising them towards “meaningful and respectful online conversations.”

The aim is to foster a Web3 social experience where blockchain will be more than a layer of ownership. According to Pi, this is its vision for Fireside Forum, which launched in June 2023 and has seen steady user interaction.

“Through Decentralized Moderation, Fireside Forum aims to achieve a self-sustaining and transparent content ecosystem through cryptocurrency integration, allowing for diverse voices to be heard while keeping our behaviours accountable and respectful to others,” the platform wrote in the blog post.

Pi Network believes the new feature will not only empower users, but also help shape Fireside Forum’s evolution. This will include aspects such as content quality, accountability, and healthier online interactions.

Decentralized Moderation is expected to have tiered moderation levels, tokenomics and stakes in play and structured fair reward system.

The post Pi Network to launch decentralised moderation feature on Fireside Forum appeared first on CoinJournal.

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Starknet allocates 10% of network fees to developers

  • Starknet to distribute 10% of network fees to developers in ‘Devonomics’ pilot.
  • dApps developers to receive 8% and core developers 2% of $1,600 ETH, or $3.5 million.
  • Starknet recently announced an upcoming airdrop.

Starknet Foundation and StarkWare, the developer of layer-2 Ethereum platform Starknet, has announced a pilot program that will incentivise developers via a $3.5 million total payout.

According to Starknet’s blog post on Tuesday, the pilot program is dubbed “Devonomics.” With it, early Starknet developers will receive 1,600 ETH accounting for 10% of all network fees.

Beneficiaries are those to have contributed to the platform’s activities and growth since its launch in November 2021 up to November 30, 2023. Developers are to be rewarded for operating and developing the Starknet network, as well as to empower them for governance decisions.

The program also seeks to incentivise developers to maintain and secure the blockchain platform through staking, Starkware noted.

8% to dApp developers and 2% to core developers

In particular, developers will have a share of over 1,600 ETH. Over 1,200 ETH, or 8% of the fees will be distributed to developers of decentralised applications (dApps).

Meanwhile, 300 ETH, or about 2%, will go to Core Developers, a group that includes devs that write code for provers, sequencers, full nodes, and long-term storage providers among others. While the initial distribution is in ETH, all future rewards will be in the native STRK token.

Starknet Foundation’s launch of Devonomics adds to several other initiatives aimed at empowering key network stakeholders.

Past initiatives include an early adopter grant (EAG) program, a 50 million early community member program (ECMP), developer partnerships (DPs) and grants to individual contributors.

Today’s announcement also comes a few days after Starknet confirmed plans for a potential 1.8 billion STRK airdrop.

The post Starknet allocates 10% of network fees to developers appeared first on CoinJournal.

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INJ price hits new all-time high: Why is Injective surging?

  • INJ soars to a new all-time high above $27, up 66% in two weeks and over $1,500% in the past year.
  • What’s driving the Injective price higher? Catalysts include upcoming network upgrade, weekly token burn and Helix DEX activity.

The injective (INJ) token is one of the standout performers in the past week, rising more than 60% as its price broke above $20. 

On December 12, the INJ price shot to highs of $27 across major crypto exchanges, touching a new all-time high as major altcoins looked to recoup losses seen on Monday.

As Injective looks for continued upside, one of the questions to ask is what has driven this token to its new ATH. Is this rally therefore likely to be sustainable, or will bears spoil the bulls’ Christmas party?

Why is Injective price surging?

The last 30 days have seen the price of Injective’s native token surge by more than 55%, while the steady upswing since the lows reached in December 2022 has included a parabolic rise of 1,570%. In recent weeks, positive ecosystem news have combined with the broader bullish sentiment to send INJ higher.

One of the catalysts this past few days has been Injective’s weekly token burn. The latest of these saw over $65,000 worth of INJ burned, permanently removing them from circulation.

Amid the burn auction, Injective has also witnessed a significant spike in total INJ staked. According to on-chain data, over $1 billion worth of the token has so far been staked.

This outlook has put pressure on Injective rising ahead of a recently announced upgrade dubbed Volan. According to the Injective team, this is going to be the largest mainnet upgrade in the layer-1 blockchain’s history.

Injective teased the Volan upgrade on November 30, and INJ price has skyrocketed more than 66% in the two weeks since. Network activity around Injective-based decentralized exchange (DEX) Helix has also contributed to the upward trajectory.

INJ price outlook

As INJ pares some of the intraday gains to trade around $26 at the time of writing, a bullish continuation could see buyer eye price beyond $30. A bearish flip amid broader market retreat could inform the potential slip to support in the $20-$18 range.

Injective INJ price chart. Source: TradingView

 

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Horizen Labs, Offchain Labs propose APE-powered ApeChain on Arbitrum

  • Horizen Labs, Offchain Labs and Arbitrum Foundation have submitted an ApeCoin DAO proposal for ApeChain.
  • The platform targets the blockchain gaming ecosystem and will be built using Arbitrum’s technology.
  • ApeChain will utilise ApeCoin (APE) as the native gas token.

In a recent proposal, Horizen Labs, Offchain Labs and the Arbitrum Foundation outlined plans for an ApeChain platform, part of the broader vision to support growth for the ApeCoin ecosystem.

The price of ApeCoin (APE) was around $1.67 on Tuesday, down 0.2% in the past 24 hours. APE has struggled to mirror broader market gains in recent weeks and is up only 13% in the past 30 days.

ApeChain targeted for gaming ecosystem

 The ApeCoin DAO idea reveals that ApeChain will be developed using the Arbitrum technology with Horizen Labs spearheading the overall ecosystem growth. The ApeChain network will be an Orbit chain built using AnyTrust.

“We believe that leveraging Arbitrum’s market-leading technology will best position ApeChain to succeed as an independent governed chain in the Ethereum ecosystem,” the ApeCoin Improvement Proposal (AIP) reads in part.

Partners for the project will include a Data Availability Committee featuring Horizen Labs, Offchain Labs, Magic Eden, and Layer Zero among others. Yuga Labs, the Web3 startup that created Bored Ape Yacht Club (BAYC) and CryptoPunks, will also be approached to join the DAC.

According to the proposal, key benefits of developing ApeChain on Arbitrum will include the use of APE as the gas token. This could in turn see a native economy around APE grow to encompass staking and governance. Also, it could spark a new revenue stream for ApeCoin DAO, with increased traction in blockchain gaming due to low gas fees.

 “We’ve been excited to see ApeCoin DAO rally around the idea of a dedicated ApeChain, and agree that it would enhance the DAO’s value proposition. Our goal is to combine the strength of the APE brand with Arbitrum’s technology and cement ApeChain as the nexus of on-chain gaming,” Arbitrum said in a post on X.

Horizen Labs expects development of the ApeChain to commence in Q1, 2024, with onboarding of teams and formalization of the ApeChain governance structure. A testnet will also launch in the quarter, while the mainnet launch could be in Q2, 2024 if the proposal is adopted.

Meanwhile, the Arbitrum Foundation will offer grant funding for a Rollup-as-a-Service provider,  ApeChain Security Council and block explorer.

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