Kategorie: Crypto Markets

• Humanity Protocol has secured $30M for its palm scan identity verification project.
• Palm scan tech offers secure, decentralized identity verification, disrupting traditional methods.
• Competition intensifies in the digital identity space as Worldcoin and Humanity Protocol go head-to-head.

Humanity Protocol, a web3 digital identity startup, has secured $30 million in funding, catapulting its valuation to $1 billion.

Utilizing palm scans for online identity verification, digital identity startup aims to revolutionize digital identity management.

Palm scan technology in digital identity verification

Humanity Protocol’s unique approach to digital identity verification involves the use of palm scans.

Unlike traditional methods that rely on usernames and passwords, palm scans utilize infrared cameras to capture the unique vein patterns in an individual’s palm.

This biometric data is then stored using decentralized technology and zero-knowledge proofs, ensuring the security and privacy of users’ information.

Humanity Protocol’s founder, Terence Kwok, emphasized the importance of this approach, stating that palm scans offer a more secure and reliable means of identity verification.

With plans to launch its own cryptocurrency, Humanity Protocol aims to leverage its palm scan technology to streamline know-your-customer (KYC) processes and other identity verification procedures.

Humanity Protocol challenging Worldcoin in digital identity space

Humanity Protocol’s funding success comes amidst increasing competition in the digital identity space.

Projects like Worldcoin, co-founded by Sam Altman, have also sought to revolutionize identity verification using innovative technologies.

However, Worldcoin has faced criticism for its iris-scanning technology and business model targeting users in the Global South.

In response to these concerns, Worldcoin announced that it has established new standards for data protection and has deleted previous iris-scanning data.

Despite these challenges, the growing interest in digital identity solutions underscores the importance of projects like Humanity Protocol in addressing the evolving needs of the digital economy.

The post Humanity Protocol raises $30M for palm-based digital identity appeared first on CoinJournal.

• Bitcoin price rose to near $64,000 as stock futures climbed.
• The upside came after US inflation data showed consumer prices rose less than expected in April.
• Algotech, a new crypto trading project, continued to attract investors as its presale crossed $4.8 million.

As stock futures rose on Wednesday, Bitcoin price jumped more than 2% to break above $63,700. The benchmark cryptocurrency’s rise towards $64,000 saw altcoins flip green.

Amid the gains for alts such as Ethereum, Toncoin and Avalanche, new crypto project Algotech swelled in presale.

Bitcoin surges as CPI rises less than expected

On Wednesday, data on inflation showed that the consumer price index (CPI), the US Federal Reserve’s preferred inflation gauge, only rose 0.3% in April. That was lower than the expectation of 0.4% for the month-on-month increase, CNBC reported.

While the inflation reading remains above 3%, its overall dip to 3.36% year-over-year in April from the 3.48% reported in March attracted a reaction across markets. Also notable was the US Core CPI (which excludes food and energy) – it was 3.62% YoY in April compared to 3.80% the previous month.

The inflation report saw Treasury yields fell as stocks pumped. The gains were also visible across the crypto market, with Bitcoin jumping from below $62,000 to hit highs above $63,855.

A 3.6% upside for BTC pushed the total crypto market cap up by more than 2% to over $2.43 trillion.

Algotech: A new crypto trading project

At its core, Algotech is a decentralized algorithmic trading platform that brings innovative crypto trading technologies to the ordinary trader.

The goal is to empower traders via integration of artificial intelligence, machine learning and analytics tools. Automation and blockchain technology meet to offer a potentially game-changing platform for crypto traders.

As it prepares to launch, Algotech has allocated 70% of the total of 350,000,000 ALGT to the public presale. When the current presale stage concludes, the ALGT price will increase to $0.10. Meanwhile, the estimated launch price after the presale is $0.15.

Algotech gains as presale nears $5 million raise

Algotech has raised more than $4.88 million in its ongoing token sale, with the current presale stage more than 75% sold out.

Currently, only 14% of ALGT tokens remain unsold in stage 3. It means investors keen to grab some of the tokens at prices of $0.08 may want to take swift action. But why is the interest in Algotech rising?

While today’s Bitcoin price spike towards $64k has buoyed the broader crypto market, the overall interest in Algotech is something that has built up in bounds these past few weeks.

The positive sentiment around the project has strengthened as more people understand what the platform offers. Moreso, it’s the potential for its defining features to drive the next big wave in crypto trading that has investors flocking to the presale.

Visit the Algotech website to learn more about this project.

The post Algotech gains as Bitcoin spikes towards $64k on latest CPI report appeared first on CoinJournal.

• Robinhood Crypto has announced launch of Solana (SOL) staking for its customers in Europe.
• New customers will also enjoy a 10% bonus on net buys.

Robinhood is expanding its services and products for users in Europe.

On Wednesday, the trading platform announced it was launching new features that include Solana (SOL) staking, localized apps and crypto rewards among others. The new features will target new customers, Robinhood Crypto said in an update.

Robinhood launches SOL staking in Europe

As part of its growth efforts, Robinhood Crypto now offers its “first-ever crypto staking product”.

The platform said Solana (SOL) staking is now available directly via its app, which means users can earn rewards from their staked SOL tokens.

The product will offer the flexibility of users being able to unstake at any time.

“Robinhood Crypto is already one of the lowest cost places to trade on average with an easy-to-use interface that prioritizes education. Today’s news is a significant step forward in our mission to offer customers a more tailored in-app experience that meets their specific needs and helps them on their financial journey,” Johann Kerbrat, VP and GM of Robinhood Crypto said in a statement.

Staking rewards, bonuses

Other than the staking rewards, new customers have a chance to unlock a 10% bonus on net buys accrued over the user’s first 30 days of trading. Payouts for the bonuses will be in USDC.

New customers will also benefit from the Learn & Earn modules the platform has launched, with initial focus on Bitcoin (BTC), Avalanche (AVAX) and the USDC stablecoin. The products are tailor-made to bolster customers’ knowledge and understanding of different cryptocurrencies.

The new features also include localized apps, with local language versions of the app launched in Italy, Poland and Lithuania. Robinhood Crypto will be unveiling these localized app versions in coming weeks, the company announced.

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• BNB struggles below $600, facing bearish pressure and uncertainties amid the Alex Protocol Bridge incident.
• Bitbot (BITBOT) emerges as an alternative, offering institutional-grade trading on Telegram.
• Bitbot (BITBOT) token is currently in its presale stage and it is priced at $0.018 per token.

BNB price is struggling to regain momentum amidst uncertainties and the recent Alex Protocol Bridge suspicious withdrawals that rocked the BNB Smart Chain network.

Meanwhile, Bitbot emerges as a potential alternative, promising innovative features and a new token.

BNB price recovery in limbo amid Alex Protocol Bridge incident

BNB’s journey towards recovery faces hurdles as it contends with bearish signals below the $600 mark. Despite attempts to breach resistance levels at $575 and $585, the token finds itself in a precarious position.

The failure to clear the $600 resistance zone triggered a fresh decline, exacerbating concerns among investors.

Compounding the challenges is the recent incident involving the Alex protocol bridge on the BNB Smart Chain. The protocol suffered a staggering $4.3 million in suspicious withdrawals immediately after its contract underwent a sudden upgrade. CertiK, a blockchain security platform, labeled the event as a possible private key compromise, highlighting the vulnerability of decentralized networks to malicious activities.

Bitbot (BITBOT) token offers an alternative opportunity

Amidst the uncertainties surrounding BNB, Bitbot (BITBOT) emerges as a potential alternative, offering innovative solutions in the crypto trading landscape.

Bitbot is an AI Telegram trading bot designed to empower users with institutional-grade tools, enabling seamless trading experiences directly from Telegram while maintaining full control of assets. The platform’s unique features include leveraging custom RPC nodes and institutional infrastructure to outpace the competition, handling sudden influxes of traffic during popular project launches, and ensuring assets are accessible only with user permission.

Currently conducting its presale, Bitbot has raised approximately $3,408,687 out of its $3,546,000 target. With each BITBOT token priced at $0.018 during the presale stage, Bitbot presents itself as a compelling option for traders seeking a reliable and secure trading platform.

Conclusion

In the midst of bearish pressures and uncertainties surrounding BNB, Bitbot stands out as a promising contender in the crypto trading sphere. With its innovative approach and focus on providing users with robust trading tools, Bitbot offers an alternative avenue for traders to navigate the volatile market landscape.

As investors weigh their options amidst ongoing market challenges, Bitbot’s presale success and unique features position it as a potential game-changer in the crypto trading ecosystem. The platform’s commitment to security, reliability, and user empowerment sets a new standard for trading platforms, providing traders with confidence and peace of mind in their investment endeavours.

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• Peter Thiel’s venture capital firm Founders Fund co-led a $45 million Series B raise for Polymarket.
• Ethereum co-founder Vitalik Buterin also backed the Series B round.
• The predictions marketplace also announced it raised $25 million in a Series A round, led by General Catalyst and Polychain.

The latest cryptocurrency news related to venture capital funding is from predictions marketplace Polymarket. 

In an announcement on Tuesday, Polymarket revealed it had raised $45 million in its series B round and $25 million in a Series A round.

The total raise of $70 million had the backing of some of the leading venture capital firms in the market. This comes as data showed crypto VC funding crossed $1 billion in April, the second-straight month the space reached the landmark figure. 

Founders Fund and Vitalik Buterin invest in Poymarket

Founder Shayne Coplan said in a post on X that Peter Thiel’s venture capital firm Founders Fund, Dragonfly and Ethereum co-founder Vitalik Buterin led the Series B round.

Meanwhile, General Catalyst, Polychain and Airbnb co-founder Joe Gebbia led the $25 million Series A funding round.

Polymarket’s successful fundraising across the two rounds comes as the predictions platform attracts more users amid the increased betting on the upcoming US presidential elections. Polymarket is also a hot marketplace for topics such as crypto, sports and current events.

Trump is pulling ahead pic.twitter.com/bXcqtWE6cE

— Polymarket (@Polymarket) May 13, 2024

Other than the US presidential election, other top trends this week include bets on spot Ethereum ETFs, the GameStop (GME) stock and Bitcoin price.

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