Kategorie: Crypto News

Key takeaways

• Spot Ethereum ETFs began trading on Tuesday and recorded a trading volume of $1 billion on the first day.
• The Poodlana presale is approaching $2.5 Million roughly a week after it launched.

Spot Ethereum ETFs are now live

On Tuesday, July 23rd, spot Ethereum exchange-traded funds (ETFs) launched in the United States. This latest development comes roughly six months after spot Bitcoin ETFs went live in the world’s largest economy.

Data obtained from Bloomberg revealed that investors traded over $1 billion worth of shares of the Ether ETF issuers on the first day of their availability. SoSoValue further revealed that of the $1 billion traded, there was a net inflow of $106.7 million. With Bitcoin and Ether ETFs now live, cryptocurrencies are becoming more mainstream, granting institutional investors access to the two leading digital currencies. 

What is Poodlana?

The launch of Ethereum ETFs is an indication that cryptocurrencies are going mainstream. Investors continue to troop into the space as new projects offer unique utilities for real-world problems. 

Poodlana is one of the latest projects that seek to improve the crypto meme ecosystem. It is a new Solana meme coin designed to introduce the glamor of high fashion to the crypto world. 

The developers have the ambition of making Poodlana the leading dog-themed meme coin on the planet. Poodlana is focusing on the ethos of community-driven growth while providing investors with unique value. 

Thanks to the popularity of the Poodlana dog breed in Japan, Korea, and China, the development team is leveraging this and the love of meme coins in these countries to build a strong community. 

Poodlana wants to become a bigger dog-themed meme coin, surpassing the two giants, Shiba Inu and Dogecoin. 

Poodlana’s presale hits $2.3m in seven days

The Poodlana presale began seven days ago and will last for 30 days. The project has raised more than $2.3 million in the last seven days, a testament to the huge demand Poodlana has amongst investors. 

In the current stage, the POODL token goes for $0.0265 but will increase to $0.0299 in the next presale stage. Investors can purchase this token using SOL, BNB, ETH, USDT, USDC, and Fiat/card payment options.

Unlike the numerous projects launching in the ecosystem, Poodlana will not have a lock-up period for their tokens. The POODL presale will end on August 16 and the listing on exchanges will take place immediately after. 

Click here to learn more about the Poodlana presale.

Poodlana allocates 50% of total tokens to presale

Poodlana is adopting a simple tokenomics model to ensure that there is total transparency amongst its community members and investors. The team will issue 1  billion POODL tokens, with 50% going presale.

The remaining 50% will be shared amongst marketing (15%), rewards (5%), partnerships (5%), treasury (10%), and liquidity (15%). 100% of tokens will be unlocked on day one, ensuring there are no lock-ups or vesting periods.

Poodlana will burn unsold tokens right after the presale, ensuring the deflation of the token, (which could lead to a price increase). The token will also be listed on decentralized exchanges (DEXs) once the presale ends.

Why buy the Poodlana tokens?

Meme coins have become a crucial part of the cryptocurrency ecosystem, with several of them having a market cap of $1 billion and above. Thanks to their appeal, Poodlana could join this rank of meme coins in the future. 

Poodlana is taking advantage of the popularity of the Poodlana dog breed and is building a community that could see it challenge Shiba Inu and Dogecoin. 

The swift presale and listing of this token in addition to its transparency could make it one of the most highly sought-after meme coins in the crypto space.

The post Spot Ethereum ETFs record $1b trading volume on day one as Poodlana’s presale approaches $2.5m appeared first on CoinJournal.

• Bybit launches Spot Liquidity Pairing Program to enhance liquidity for projects.
• The program boosts visibility and partnerships, fostering a seamless trading experience.
• July’s Premium Market Makers include Amber Group, Auros, and DWF Labs.

The second-largest cryptocurrency exchange by trading volume Bybit has announced the launch of its Spot Liquidity Pairing Program.

This new initiative is designed to connect high-quality Market Makers with projects in need of improved liquidity, fostering a robust trading environment and advancing the digital asset ecosystem.

The Bybit Spot Liquidity Pairing Program

The Spot Liquidity Pairing Program aims to provide liquidity providers with significant opportunities for collaboration.

One of the key features of the Spot Liquidity Pairing Program is the visibility it offers to Premium Liquidity Providers, who will be prominently featured in Bybit’s recommendation list to projects.

This recognition not only helps establish strong partnerships but also attracts more potential projects to the platform.

Premium Market Makers for July unveiled

Bybit has revealed the Premium Market Makers for July, which include Amber Group, Auros, CyantArb, DWF Labs, Flow Traders, Pulsar Trading, and Raven.

These Market Makers have demonstrated exceptional performance and a strong commitment to providing liquidity, making them valuable partners for projects looking to enhance their market access.

Eugene Cheung, Head of Institutions at Bybit, emphasized the importance of the program in fostering a thriving trading ecosystem.

Cheung said that the Spot Liquidity Pairing Program is part of Bybit’s ongoing efforts to create a robust trading environment and facilitate the growth of the digital asset ecosystem. He also added that by connecting quality market makers with promising projects, Bybit aims to enhance liquidity and provide a seamless trading experience for its users.

The Spot Liquidity Pairing Program marks a significant step forward in enhancing the liquidity and overall trading experience on the platform, promising substantial benefits for both market makers and projects alike.

The post Bybit launches spot liquidity pairing to connect liquid providers with projects appeared first on CoinJournal.

• dYdX v3 compromised by a DNS attack; 2 smart contracts compromised.
• Exchange discussing the sale of its derivatives arm to Wintermute and Selini.
• Founder Antonio Juliano stepped down; Ivo Crnkovic-Rubsamen now leads the company.

dYdX, a prominent decentralized exchange, is grappling with a significant security breach involving its v3 protocol.

On July 23, it was reported that an attacker had compromised the official website for dYdX v3 by installing a token-draining program, which could potentially siphon off users’ funds.

The compromised site displayed error messages similar to those used in previous phishing scams, attempting to trick users into revealing their wallet information.

What we know so far about the dYdX hack

The exchange’s team promptly issued a warning on social media, advising users not to visit the affected site or click any links associated with it until further notice.

Fortunately, the protocol’s v4 version, which operates on the Cosmos blockchain, remains unaffected and fully operational.

The dYdX v3 interface, hosted at dydx.exchange, was the primary target of this attack. dYdX have stated that the smart contracts underlying the v3 protocol were not compromised.

The smart contracts on dYdX v3 are safe, and are not compromised.

Do not attempt to withdraw any funds or interact with the website dydx . exchange until further update. https://t.co/wtWYDQuyog

— dYdX (@dYdX) July 23, 2024

dYdX considering sale of its derivatives arm

This breach comes at a turbulent time for dYdX. The exchange is reportedly in discussions to sell its derivatives trading arm, with Wintermute Trading and Selini Capital emerging as potential buyers.

Wintermute Trading, based in the UK, is known for its algorithmic trading in digital assets, while Selini Capital focuses on managing alternative investments in digital assets.

This move follows the recent departure of dYdX’s founder, Antonio Juliano, who stepped down as CEO on May 13. The company is now led by Ivo Crnkovic-Rubsamen, the former chief strategy officer.

Adding to the complexity, dYdX launched its v5 version in June, introducing new features such as isolated margin and markets, and support for Raydium Markets.

These upgrades allow traders to assign collateral to specific trades, thereby mitigating cross-trade collateral risk and providing dedicated insurance for each collateral pool.

The dYdX v3 breach underscores a troubling trend in the Web3 space, where DNS hijacking attacks are becoming increasingly common.

Earlier this month, both Compound Finance and Celer Network experienced similar attacks, which redirected their websites to malicious domains aimed at draining user tokens.

As dYdX navigates this challenging period, focus remains on resolving the breach. The exchange’s native token has already taken a hit and was down 10% at press time.

The post dYdX faces security breach amid sale discussions and leadership changes appeared first on CoinJournal.

• The Digital Chamber group wants Kamala Harris to support digital assets
• The advocacy group has requested Harris pick a vice president who understands the industry
• They believe the digital asset industry is creating a “revolutionary shift” that Harris needs to champion

The Digital Chamber has written a letter to Vice President Kamala Harris calling on her to support the digital asset industry, arguing that it holds “immense potential for innovation, economic growth, and financial inclusion.”

In a letter dated July 22, the crypto advocacy group included three requests to Harris. These were to promote the inclusion of pro-digital asset language within the Democratic Party, choose a Vice President candidate who understands the digital asset industry, such as Colorado Governor Jared Polis, and engage with industry leaders.

According to the Digital Chamber, Democratic leaders including Speaker Emerita Nancy Pelosi and Senate Majority Leader Chuck Schumer support pro-crypto legislation. However, due to the Biden and Harris administration, the public view is that the Democratic Party holds a negative stance on digital assets.

In June, it was reported that President Joe Biden had vetoed a bill aimed at overturning SEC crypto accounting standards. Many in the crypto community argued it was a setback for innovation and financial inclusion.

“We believe this previous hostility does not reflect the progressive and inclusive values of your Party,” the group wrote, adding that over 50 million Americans have embraced digital assets.

Champion Innovation

Highlighting the “revolutionary shift,” digital assets can “enhance transparency, reduce fraud, and create a more inclusive financial system,” the Digital Chamber wrote.

The advocacy group is urging the Harris administration to “champion these innovations to help reaffirm the US’ position as the leader in the global digital economy.

Following the news that Biden won’t be seeking re-election this year, Harris was endorsed as his potential successor.

Since then, Harris meme tokens have jumped in value. For instance, the Solana-based memecoin KAMA increased by more than 60% in 24 hours to $0.02512, according to CoinMarketCap.

Harris has yet to comment on her position on crypto; however, the Digital Chamber ended their letter stating that they are “hopeful” that through Harris’ leadership, “the Democratic Party can pivot towards a more supportive stance on digital assets.”

The post The Digital Chamber Wants Kamala Harris to Champion Digital Asset Innovations appeared first on CoinJournal.