Monat: April 2024

• Binance has announced Omni Network (OMNI) as the 52nd project on the Binance Launchpool.
• Algotech (ALGT) is a new crypto project set to redefine crypto trading.
• OMNI and ALGT could be altcoins to watch in 2024.

Omni Network (OMNI) is the 52nd project on the Binance Launchpool, and excitement is high among crypto investors. Meanwhile, new crypto project Algotech (ALGT) is generating huge interest as traders look forward to its launch.

Is OMNI worth a look after the Binance announcement and could ALGT emerge as the top crypto trading related token? Find out more.

Algotech, the new decentralised algorithmic trading platform

As traders look to tap into opportunities in the crypto market, the need for cutting-edge trading tools and advanced artificial intelligent solutions is rising.

Algotech is a new decentralized algorithmic trading platform that could redefine the crypto trading space.

Not only does it offer innovative algorithms it combines the best of AI and machine learning capabilities. Algotech’s design means traders can leverage machine learning capabilities to profit from efficiency and accuracy.

The automated strategies that Algotech brings to the market and which traders can leverage to make profitable trades trend following, mean reversion and breakout trading. The strategies are a result of expert insights, machine learning techniques and quantitative analysis.

This is a project entering a market rife with opportunities and the native token ALGT could be one of the top altcoins to watch in 2024.

Omni Network (OMNI): Binance introduces 52nd Launchpool project

Omni Network (OMNI) is the latest project to feature in the Binance Launchpool ahead of its mainnet launch and trading debut. Omni is the 52nd project to bring airdrop benefits to the community via the Launchpool.

Binance users can farm OMNI over the next four days, starting on April 13, 2024 at 00:00 (UTC). Omni has a total supply of 100 million tokens, 3.5% or 3.5 million of which will be available to Launchpool participants.

At the end of the farming period, Binance will list the OMNI token and open trading on April 17, 2024, at 12:00 (UTC). Trading pairs to be added will include OMNI/BTC, OMNI/USDT, OMNI/BNB, OMNI/FDUSD, and OMNI/TRY.

What is Omni Network?

Omni Network, is an interoperability protocol that provides for low latency communications across Ethereum rollups.

The Cosmos SDK powered protocol facilitates seamless interoperability between Ethereum rollups, empowering developers and users with a unified system.

The protocol’s team announced its Genesis airdrop on Thursday.

According to a recent update, the project’s launch will initially see users have access to simple cross-rollup messaging functionality. However, as the protocol matures, OMNI holders will participate in governance decisions, including network upgrades and launch of new developer features.

Binance’s listing of projects has often seen native tokens explode in value amid listing excitement. OMNI could be the next one to see a significant price surge.

Algotech presale accelerates in stage 3

With the project set to launch in coming months, the crypto community has poured into the Algotech presale.

The native ALGT token is currently priced at $0.08 in stage 3, with over $3.7 million raised from early bird investors keen to take advantage of Algotech’s potential market dominance.

In the next stage, the ALGT price will increase to $0.10.

ALGT holders will benefit from features such as trading fee discounts, exclusive rewards and participation in future airdrop campaigns among others. Joining the presale is an early backing of a project likely to take the crypto trading by storm, particularly amid the anticipated bull market explosion.

To learn more about Algotech or to join the presale, visit their website.

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• Circle enables BUIDL share conversion to USDC with new smart contract functionality.
• BlackRock’s BUIDL investors can convert their shares to USDC 24/7.
• BlackRock’s BUIDL fund saw $240 million in first-week investments.

Circle, the issuer of USD Coin (USDC) stablecoin, has unveiled a new smart contract functionality, enabling BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) investors to convert their shares into USDC.

The groundbreaking smart contract functionality enables BUIDL investors to convert their shares into USDC at any time, 24/7.

BlackRock’s foray into tokenized funds

BlackRock’s foray into the world of blockchain and digital assets took a significant leap with the launch of its BlackRock USD Institutional Digital Liquidity Fund (BUIDL). In collaboration with Coinbase, the fund operates on the Ethereum blockchain, aiming to provide US dollar yields through tokenization.

Launched on March 19, BUIDL represents a pivotal step in integrating traditional finance with blockchain technology, backed by a consortium of industry-leading firms including Anchorage Digital Bank NA, BitGo, Fireblocks, and Coinbase.

The fund attracted a staggering $240 million in its inaugural week, signalling strong market interest in tokenized assets.

BlackRock’s BUIDL and Circle’s USD Coin (USDC) integration

With the integration of BlackRock’s BUIDL with Circle, BlackRock BUIDL investors’ pain points have been addressed by offering a near-instant off-ramp, leveraging Circle’s speed, transparency, and efficiency inherent in tokenized assets. The integration marks a significant milestone in the tokenization of financial markets, providing investors with a secure and compliant means to engage with digital assets.

Jeremy Allaire, the Co-founder and CEO of Circle, in a press release underscored the importance of tokenizing real-world assets and the role of USDC in facilitating seamless transactions. He emphasized that USDC enables investors to exit tokenized assets swiftly, thereby reducing costs and friction from the process.

Allaire expressed enthusiasm about delivering the core benefits of blockchain transactions to BUIDL investors through USDC availability, highlighting the growing significance of tokenized assets in the evolving financial landscape.

Future implications on financial markets

The integration between BlackRock’s BUIDL fund and Circle’s USD Coin (USDC) not only enhances liquidity and efficiency but also sets a precedent for the tokenization of financial markets.

As institutional investors increasingly embrace digital assets, innovations like these are poised to reshape the future of global finance.

With regulatory clarity and technological advancements driving the adoption of tokenized assets, the collaboration between BlackRock and Circle signifies a step towards democratizing access to digital financial products.

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• Bittensor (TAO) price reached hihhs of $747 after Binance announced listing of TAO.
• The token’s all-time high of $757 was reached in March this year.
• A breakout above this could see Bittensor price target the $1,000 level.

Bittensor (TAO) is soaring, and is one of the top performing altcoins in the market today.

Per data from CoinGecko, the TAO token price has reached highs of $747, a 24-hour high that was just shy of the token’s all-time high of $757.60 reached on March 7, 2024.

Could price discovery mode for Bittensor see bulls target the $1,000 level? Given the catalyst for today’s upside, it’s likely further momentum could leave buyers eyeing the psychological target.

Why is Bittensor (TAO) price up today?

Bittensor (TAO) is a decentralised machine learning blockchain protocol that has soared in recent months amid the broader rally for Artificial Intelligence (AI) related tokens.

The platform, which uses the native TAO token in its rewards system, soared on Thursday after Binance, the world’s largest crypto exchange by trading volume, listed TAO.

As with other tokens to hit the global exchange over the years, Bittensor experienced a major spike in price and volume following the Binance news. Per data from CoinGecko, TAO’s 24-hour trading volume was over 400% at the time of writing, reaching $363 million.

Is TAO price poised for $1,000?

Binance’s listing, which brings more visibility and confidence to the AI-related token, could be the turning point that elevates Bittensor price even further.

Currently, the protocol leads the AI crypto market cap rankings with over $4.5 billion. Render (RNDR) and The Graph (GRT) are the two next biggest by market cap at $3.4 billion and $2.9 billion.

The AI narrative remains strong and so does the crypto one, particularly with Bitcoin expected to rip to above $100k after its halving and amid the increasing demand for spot Bitcoin ETFs.

TAO’s listing on Binance could bring the token to millions more, likely pushing prices towards the $1,000 mark.

Other than the huge volume and the potential for a new ATH for TAO against the US dollar, there’s also a big move for TAO/BTC. The pair rose as much as 28% earlier in the day.

Bittensor is trading +17% against BTC and looks set for a flip higher.

The post Bittensor (TAO) soars towards new ATH: Is $1000 next appeared first on CoinJournal.

• Kraken has announced it will delist Monero (XMR) from its exchange in Ireland and Belgium.
• Other exchanges, including Binance, have previously delisted XMR amid regulatory scrutiny.
• XMR price was at $132, largely flat after the Kraken news.

Privacy coin Monero (XMR) has faced numerous delistings in recent months, with leading crypto exchanges ending trading support for XMR as part of their regulatory compliance.

The latest setback in the regard comes after cryptocurrency exchange Kraken announced an end to trading support for the privacy coin.

In a notice, Kraken informed its customers it would delist Monero from its platform in Ireland and Belgium. The announcement, published earlier today, states that the CEX will remove XMR from its platform in the EU jurisdictions as from June 10, 2024.

Ahead of that, Kraken will halt trading and deposits on May 10. The exchange will also auto-close any open margin positions by May 10 – which means customers have less than a month to close these positions.

Meanwhile, XMR withdrawals will end on June 10 and if any users still hold Monero on the exchange by then, the balances will auto-convert to Bitcoin (BTC).

Monero price outlook

While Kraken’s notice did not state the exact reason behind the move to delist XMR, its decision looks to align with recent EU regulation on privacy-focused cryptocurrencies. The exchange therefore adds to the list of top crypto platforms to delist or announce plans to end Monero support.

That includes Binance, which announced XMR delisting in February, and OKX, which ended all support for the privacy coin in early January. Crypto exchange Huobi announced XMR delisting in September 2022.

Today’s news has not impacted XMR price as much as the Binance delisting did in February this year. At the time, Monero’s price dropped from highs of $166 to around $102. A broader market bounce in March also pulled XMR higher, with its price reaching $151.

XMR is however trading near $132, largely flat on the day but likely to flip lower if bulls don’t hold the key area around $130.

The post Monero (XMR) exchange troubles continue with another major delisting appeared first on CoinJournal.

TL;DR

• Algotech is now in its third presale stage and has raised more than $3.7 million so far.
• The broader crypto market has performed well this week, with BTC now trading above $70k.

The broader cryptocurrency market has recovered from last week’s poor performance. BTC is up by more than 5% in the last seven days and could soar higher in the near term. 

At press time, the price of Bitcoin stands at $70,287, up by more than 1% in the last 24 hours. Thanks to the positive performance, other major cryptocurrencies are also trading in the green.

The Algotech presale also continues to move excellently, with the third stage now 14% completed. 

What is Algotech?

To understand why the Algotech presale is moving fast, it is crucial to know what the project is about. Algotech is a cutting-edge decentralized algorithmic trading platform designed specifically for the fast-paced world of cryptocurrency trading.

It is ideal for retail traders thanks to the advanced algorithms and machine learning features available to them.

Algotech is bringing AI features to traders as it seeks to eliminate the limitations and challenges associated with manual trading. In addition to that, the platform’s algorithms are fast, smart, and accurate, enabling traders to execute precise and consistent investment strategies.

Algotech’s AI and crypto trading features

The total cryptocurrency market currently stands above $2.5 trillion and is expected to double before the end of the year. As the trading volumes increase, crypto traders need to develop their edge to enable them to make a profit. 

Algotech could help traders build their edge in the market. Per their whitepaper, the platform’s advanced algorithms analyze assets across over 1000 unique data points to identify the next breakout opportunities. 

Thanks to the platform’s algorithms, traders can make split-second entry decisions for high-precision trading. Algotech monitors market funding levels, availability, liquidity and spread. This helps reduce risk for traders. 

The AI-based trailing stops also make it easier for traders to manage risk and protect their capital.

Arbitrage opportunities are also possible thanks to the advanced AI tools offered by Algotech. Finally, the platform provides access to trading strategies, community resources, and trading education.

Will Algotech grow stronger?

Algotech has the features to become a leading project in the AI and DeFi ecosystems. If Algotech rolls out its features and products, it could attract thousands or even millions of traders in the crypto space. 

According to their whitepaper, Algotech will issue 350 million ALGT tokens. 10% of the tokens have been allocated to R&D and funding for testing, durability and performance on the current and new algorithms.

The team allocated another 10% for the support in promotion and bounty to partners. The founders will hold on to only 7% of the total supply while the team gets a 3% allocation. Finally, 70% of the total token supply is available for public sale (including marketing).

ALGT holders will enjoy certain incentives such as a percentage of trading fees. The token grants governance rights in the Algotech community, meaning each individual can affect the platform’s important decisions.

Should you buy the ALGT tokens?

The Algotech presale is currently in its third stage and has raised more than $3.7 million within a month. In this stage, the ALGT token is going for $0.08, with more than 86,000 tokens sold so far.

The ALGT token will power the Algotech ecosystem and early investors could benefit from the token’s utilities. 

Algotech could gain massive adoption in the market and this could see ALGT’s price soar higher in the medium to long term. The platform presents traders with multiple arbitrage strategies that enable the platform to earn profits by exploiting price discrepancies across several exchanges.

Token holders will receive a certain percentage of platform trading fees. They will also participate in governance votes, proposals and potential airdrops in the future. 

Read more about the Algotech presale here.

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