Kategorie: Crypto Markets

• Animoca Brands has secured its position as the largest validator on the TON blockchain.
• Animoca Brands actively supports third-party gaming projects within the TON ecosystem.
• Telegram’s endorsement of TON as its blockchain of choice for Web3-related developments in September adds weight to TON’s prominence.

Hong Kong-based venture capital firm Animoca Brands has made a significant move in the blockchain and gaming space, solidifying its position as the largest validator on the TON (Telegram Open Network) blockchain.

The strategic investment aligns with Animoca’s focus on gaming and metaverse projects, contributing to the TON ecosystem’s development.

Animoca Brands’ investment in TON

In a recent announcement, Animoca Brands confirmed its investment in the TON ecosystem, refraining from disclosing specific details regarding the terms of the investment. The firm is actively supporting third-party gaming ventures within the TON ecosystem, emphasizing its backing for TON Play, the blockchain network’s dedicated gaming infrastructure project.

In September, TON received a notable endorsement from Telegram, designating it as the preferred blockchain for Web3-related developments. This endorsement positioned TON as a significant player in the blockchain space, especially given the vast potential audience of Telegram, boasting a user base of 800 million. With Animoca Brands’ investment and involvement in TON, the gaming and metaverse sectors may witness increased innovation and collaboration within the TON ecosystem.

This strategic move by Animoca Brands underscores the growing intersection of blockchain and gaming, with TON providing a robust infrastructure for decentralized applications (DApps) in the gaming industry. As TON continues to gain support from influential players like Animoca Brands, it reinforces the blockchain’s position as a key player in the evolving landscape of Web3 technologies.

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• Jito Foundation Launches Governance Token (JTO).
• Impactful Solana MEV Mitigation by Jito Labs.
• The JTO token will have a total supply of 1 billion.

Jito Foundation, the driving force behind Solana MEV developer Jito,  has made a significant move with the launch of a governance token, JTO.

This move aims to not only manage the protocol but also foster development in the Solana ecosystem. With a total supply of 1 billion JTO tokens, this initiative seeks to democratize decision-making within the Jito Network, allowing community members to play a pivotal role.

Empowering Solana’s liquid staking with JTO tokens

In a bid to address challenges posed by Maximum Extractable Value (MEV) on Solana, Jito Labs, backed by the Jito Foundation, has taken a proactive approach by launching a governance token, called JTO, for the Jito Network.

1. Introducing $JTO: A New Era of Community-Led Governance.

The Jito Foundation is thrilled to unveil the $JTO governance token to enable community-driven leadership. pic.twitter.com/98lI7Y3NVm

— Jito (@jito_sol) November 27, 2023

The Jito MEV network, consisting of validators, has now garnered over 40% of the Solana network’s stake weight. This statistic underscores the practical impact of Jito Labs in mitigating MEV-related issues on the Solana blockchain. Jito’s software enables Solana to run more efficiently and earn MEV rewards.

With a carefully crafted tokenomics model, the Jito Foundation has allocated 34% of the JTO tokens for community growth, emphasizing the importance of grassroots involvement. Additionally, 10% of the tokens are earmarked for an airdrop, a gesture recognizing the vital contributions of community members in bootstrapping the network.

With JTO, users can set fees for the JitoSOL stake pool, update delegation strategies by controlling StakeNet parameters, manage the DAO treasury of JTO tokens and revenue from JitoSOL, and contribute to the enhancement of the Jito Network.

Solana Ventures and Anatoly Yakovenko, co-founder of Solana Labs, are among notable investors in Jito Labs, which successfully raised $10 million in a Series A funding round last year.

This governance token launch by the Jito Foundation aligns with the broader trend of decentralized decision-making within blockchain projects. By involving the community in protocol management and development decisions, the Jito Network aims to strengthen its position within the Solana ecosystem.

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• HSBC and Hang Seng Bank have officially joined China’s digital Yuan pilot.
• HSBC China customers can now utilize their debit cards to access personal digital Yuan wallet services.
• There have been collaborative efforts between foreign banks and China’s financial authorities.

International banking giants HSBC and Hang Seng Bank have officially joined China’s digital Yuan pilot, signalling a pivotal moment for foreign banks in the digital currency space. This comes barely a month after HSBC launched digital asset custody services.

This move underscores a growing trend of traditional financial institutions embracing central bank digital currencies (CBDCs) globally.

Foreign banks enter Digital Yuan pilot program

Being foreign banks, HSBC and Hang Seng Bank have made headlines as part of the first group of foreign banks to officially announce their participation in China’s digital Yuan pilot.

Reports from the 21st Century Business Herald reveal that the banks have embarked on this journey, embracing the innovative technology behind the digital Yuan.

HSBC China customers wielding debit cards can now leverage the official digital Yuan app for personal wallet services. This includes the ability to activate and deactivate wallets seamlessly. Moreover, these customers can utilize their conventional debit cards to top up their digital RMB wallets, marking a practical integration of traditional and digital financial services.

Standard Chartered, another international banking heavyweight, has confirmed its involvement in the digital yuan pilot. The bank’s Mainland China arm has successfully accessed the digital Yuan interconnection platform, enabling it to offer digital Yuan exchange services to its customers. This move underscores a strategic push by foreign banks to play a pivotal role in China’s evolving CBDC landscape.

Collaborative efforts and CBDC adoption

Standard Chartered’s collaboration with a Mainland Chinese chartered clearing organization overseen by the People’s Bank of China emphasizes the collaborative efforts between foreign banks and China’s financial authorities. This aligns with the broader trend of HSBC and Hang Seng intensifying their CBDC adoption plans, not only within Hong Kong but also on a global scale.

These developments mark a watershed moment in the integration of traditional banking institutions into the digital currency landscape, emphasizing the increasing importance of CBDCs in the evolving financial ecosystem.

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Key takeaways

• Shiba Inu is down by 4% over the last seven days as the market undergoes a correction.

• Shiba Memu’s presale has now raised more than $4.6 million as more investors troop in.

The cryptocurrency market is undergoing a slight correction after its excellent performance in recent weeks. However, Shiba Memu’s presale continues to hit new highs. 

Shiba Inu could slip below $0.000008

SHIB, the native token of the Shiba Inu ecosystem, is down by 4% over the last seven days. The poor performance comes as the broader cryptocurrency market undergoes a correction.

At press time, the price of Shiba Inu stands at $0.000008077 per token. If the bearish trend continues, SHIB could drop below the $0.000008 level in the near term. 

What is Shiba Memu?

Shiba Memu is a new Web3 project that is launching as a meme token. The project continues to attract interest from investors as the broader cryptocurrency market continues to record an excellent year. 

Its presale recently surpassed the $4.5 million mark and could soon hit the $5 million milestone if the interest continues. 

Shiba Memu is a project that seeks to help individuals and entities handle marketing campaigns. According to their whitepaper, the Shiba Memu platform will leverage blockchain and AI to offer marketing services to users.

The use of AI and blockchain technology would allow Shiba Memum to become a self-sufficient marketing powerhouse. With this platform, users can carry out a wide range of marketing activities. 

The platform will operate 24/7 thanks to its use of AI. It will also identify ideal creative scenarios and develop excellent marketing campaigns for users.

The team revealed that its launch as a meme token is due to the fact that they intend to take advantage of the hype around meme projects. Meme coins have become important in the crypto industry, growing from a market cap of $0 in 2019 to $35 billion in 2023. 

What separates this project from the thousands of other meme coins available in the market is that it offers utility to users. The Shiba Memu AI technology will help users develop their marketing strategies, write their PRs, and promote their services and products on relevant forums and various social media platforms. 

At launch, Shiba Memu will only be available to users on the BNBChain and Ethereum blockchains. 

Shiba Memu’s presale surpasses $4.6 million

Although the broader crypto market is having a poor start to the week, Shiba Memu’s presale continues to hit new milestones. The project has raised $4.615 million so far. At this rate, the Shiba Memu presale will hit the $5 million mark. 

The team will use the funds to develop its AI technology and a suite of other products. 

Click here to find out more about Shiba Memu’s presale event. 

Should you increase your Shiba Memu investment?

Shiba Memu is an excellent project that has a lot of prospects. Investors have been pouring funds into the project over the past few months thanks to its unique value proposition.

If you have invested in Shiba Memu before, you can purchase more of its tokens as the project could be one of the biggest winners in the upcoming bull run. The token could gain massive adoption over the coming months or years, and that could see its price soar higher. 

Listing on cryptocurrency exchanges and gaining massive adoption could see the SHMU token rally to new highs in the coming months and years. 

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• Tornado Cash (TORN) price fell sharply on Monday afternoon, nosediving 55% from near $4.00 to lows of $1.64.
• The decline followed Binance’s announcement that it would list TORN, WTC, PERL and BTS.
• Binance agreed a $4.3 billion settlement with US authorities last week, with ex-CEO Changpeng Zhao stepping down.

Tornado Cash (TORN) shed 55% of its price on Monday as the market reacted to Binance news around the latest token delistings. At the time of writing, the price of TORN was $1.70, down from near $4.00 earlier in the day.

According to data from CoinGecko, the Tornado Cash token traded to lows of $1.64 across major crypto exchanges.

Binance to delist TORN

On Monday, Binance announced the exchange would be delisting Tornado Cash (TORN) BitShares (BTS), PERL.eco (PERL) and Waltonchain (WTC). The crypto platform has planned to delist trading pairs for BTS/USDT, PERL/USDT, TORN/BUSD, WTC/BTC, WTC/USDT.

The swift reaction of the market saw prices of the above tokens plummet sharply. Binance’s announcement stated:

“At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all our users.”

It noted that based on their latest review, they had “decided to delist and cease trading on all trading pairs” for listed tokens. The delisting will occur on December 7, 2023 at 3:00 (UTC). The exchange 

As well as Tornado, the prices of Waltonchain, PERL.eco and BitShares dropped 56% to $0.075; 54% to $0.0077; and 47% to $0.0057 respectively.

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the crypto mixing service. 

Meanwhile, Binance agreed to a $4.3 billion settlement with the US authorities for various sanctions violations. Former Binance CEO Changpeng Zhao also stepped down.

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