Kategorie: Crypto News

• Render, Akash Network and The Graph tokens rose on Friday, with TON and FRIEND also soaring.
• Bitcoin flactuated between $63k and $61k, with a sharp drop early hours during the US trading session.

Render (RNDR) and The Graph (GRT) tokens are among altcoins with notable gains in the past 24 hours. They join other altcoins such as Toncoin, Friend.tech and Akash Network in soaring on Friday as Bitcoin (BTC) price fell below $62k.

BTC price was down 1.3% to around $61,131 at the time of writing, falling sharply from highs above $63,400. The declines for BTC come during the US trading session, after the benchmark crypto rose in Asian hours. Here’s crypto investor and analyst Miles Deutscher commenting on the declines.

Can the Americans pls stop selling?

— Miles Deutscher (@milesdeutscher) May 10, 2024

As the market fluctuates amid a tussle between the bulls and bears, some altcoins are seeing huge gains.

Friend.tech, Akash Network and The Graph prices are surging: Why?

A dose of positive news has injected fresh optimism in some of these projects, a scenario that could see them rally higher in coming days and weeks.

Friend.tech (FRIEND), Toncoin (TON) rode Base and Telegram related news to soar more than 17% respectively.

On Thursday, trillion-dollar investment manager Franklin Templeton released a bullish report on Base, citing Friend.tech as one of the projects likely to drive the SocialFi space on the Ethereum layer 2 blockchain.

TON price soared as Binance and OKX lead major exchanges in listing Notcoin (NOT), the native token of the community-driven game on Telegram.

Meanwhile, AKT sprung more than 25% in an upward move that saw the Artificial Intelligence related token lead the top 100 coins by market cap in terms of 24-hour gains.

The upside momentum is likely due to positive sentiment around the project’s quarterly revenue report. The QoQ analysis the Akash Network team shared showed the ecosystem’s revenue hit $140,000 in Q1, largely driven by surging interest in DePIN.

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• Franklin Templeton is bullish on Base and Friend.tech is soaring.
• Meme coins and Social Finance (SocialFi) applications are driving growth for the Ethereum L2 network.

Franklin Templeton, a $1.46 trillion asset manager, is bullish on Ethereum layer 2 platform Base.

Base, which launched in February 2023, has seen its total value locked (TVL) surge in recent months. The L2’s incubated by Coinbase and built using the Optimism (OP) stack.

Franklin Templeton’s digital assets unit noted in its latest industry update that the “Base Season” is here, pointing to the platform’s rising activity levels amid surge in meme coins and SocialFi.

They wrote a bullish thesis about our landlord! https://t.co/oSpAli824h

— friend.tech (@friendtech) May 9, 2024

Base has also seen USDC supply on the L2 increase significantly, currently above $2.5 billion. The upsurge comes after Coinbase Wallet announced users on Base can access zero-fee USDC transfers.

SociaFi space on Base growing

Among top protocols in terms of activity is SocialFi platform Friend.tech, an increasingly popular application that creators can tap into to monetize content.

Base is well positioned to capture a chunk of the SocialFi market via such platforms, analysts at Franklin Templeton observed. This outlook is enhanced by the fact that more top cryptocurrency-based social applications are currently building on Base.

“Currently, Base has [approximately] 46% of all transactions related to SocialFi…With the support of the Coinbase Platform, Base has a strong combination of SocialFi applications and direct integration with Coinbase users, positioning itself well to capture a material share of SocialFi activity and remain a leader in the Ethereum L2 sector going forward,” analysts at Franklin Templeton wrote in the report.

As noted in a chart shared on X, Base’s growing presence sees it take a bigger share of the total social-related transactions compared to Polygon and BNB Chain.

Friend.tech gained notably after the news, with FRIEND trading to highs of $2.53 on Friday.

While the token’s value is down 27% from the all-time high of $3.26 reached on May 3, 2024, today’s gains have pushed it from lows of $1.80 seen on May 9.

The post Franklin Templeton says “Base Season” is here appeared first on CoinJournal.

• Toncoin price surged by more than 13% amid news around new project Notcoin (NOT).
• Binance and OKX among exchanges to list NOT token.
• Bitbot could be the game-changer for Telegram crypto traders

As Toncoin (TON) gains ahead of the upcoming Notcoin (NOT) trading debut, investors keen on the Telegram ecosystem have their eyes on Bitbot – a potentially market-defining solution that’s attracting massive attention in its ongoing presale.

Here’s more about Notcoin and what makes Bitbot (BITBOT) a likely contender for the next big thing in the Telegram crypto space.

Toncoin gains as Binance, OKX announce Notcoin listing

Toncoin’s emergence as a top altcoin continues and the price of TON is making another huge leap to enhance this outlook.

As highlighted previously, Toncoin has gained a lot of momentum due to developments around Telegram, the leading cross-platform messaging app with over 900 million users.

In recent weeks and months, TON price has surged after news that venture capital firm Pantera Capital was making an investment in the TON blockchain. Stablecoin giant Tether’s launch of USDT on the blockchain sparked a 18% spike in April, while Telegram’s support for TON payouts from ads for channel owners was also a big catalyst for TON price.

This state of the TON blockchain is encouraging investors and could catalyse further gains for the Telegram-related coin.

In the past 24 hours, TON price has gained by more than 14% to reach highs of $6.91. That’s about 10% off Toncoin’s all-time high of $7.63 reached on April 11 this year.

What is Notcoin (NOT)?

Notcoin is a community token on Telegram that has gained widespread adoption amid a viral Web3 game. NOT is the native token that allows users to explore, play, and contribute to the project’s growth.

Two of the world’s largest crypto exchanges by trading volume – Binance and OKX – have announced support for NOT. The token will be listed for trading on these and other exchanges on May 16, with OKX opening NOT deposits on May 10 at 3:00 am UTC.

Binance has added NOT as the 54th project on its Launchpool, allowing the community to farm NOT by staking BNB and FDUSD.

One notable thing is that Notcoin has a total supply of 102,719,221,714, and circulating supply when NOT lists will be 100% of total supply.

As anticipation for Notcoin’s trading debut builds, Toncoin is likely to rise amid investors rush to grab a potential gem.

Bitbot: Is this the “next big thing” in crypto?

Bitbot’s entry into the market could change the game for cryptocurrency traders looking to tap into an AI-powered trading bot.

At the core of its potential dominance is the combination of advanced institutional grade trading tools and the world’s first non-custodial trading solution.

Bitbot stands out as users have full control of their wallets, private keys and assets, which is not the case with other bots. This feature means Bitbot has user security as a top priority and traders are eagerly anticipating its launch after the presale ends.

What else makes Bitbot stand out?

The excitement that surrounds Bitbot could also be related to the Gem Scanner. What this AI-powered tool does is to leverage artificial intelligence to pick potential opportunities.

The platform’s unique revenue-sharing mechanism, which provides for 50% of app fees to be distributed to BITBOT holders, could be another reason why traders are upbeat about this project.

Just as Notcoin, Bitbot eyes listing on top crypto exchanges and investors see the presale as a great opportunity to buy.

The project’s total supply is 1 billion BITBOT, 30% of this set for presale and 23% for community rewards.

Currently, gem hunters have allocated more than $3.2 million to BITBOT in stage 13. Details on the presale page shows token sale price is $0.018, which could be a huge advantage for an early bird.

To learn more about Bitbot, check out the official website.

The post Toncoin investors get opportunity with Notcoin: Is Bitbot next? appeared first on CoinJournal.

• LocalMonero is a peer-to-peer (P2P) trading platform for privacy-focused coin Monero (XMR).
• The platform is winding down, with the website set to shutter on November 7.

LocalMonero, the largest peer-to-peer (P2P) trading platform for Monero (XMR), is shutting down.

The P2P platform announced late Tuesday that it’s ending operations effective immediately, with new signups and ad postings disabled as of May 7.

Ahead of the complete website shutdown, LocalMonero will halt all trading activities, with this scheduled for May 14. The platform’s seven-year stint that saw it become the largest peer-to-peer trading platform for Monero officially comes to a close on November 7.

As it begins its six-month wind-down process, LocalMonero says the decision to shut shop comes amid a confluence of internal and external factors. However, the announcement on the platform’s website does not provide specific reasons for the move.

Meanwhile, all users are advised to withdraw their funds before the deadline of November 7. Not doing so could render the funds “abandoned or forfeited.”

LocalMonero shuts, but future of Monero “bright”!

Shutting down Monero’s largest P2P platform could see an impact in terms of the buying and selling of XMR, the top privacy-centric cryptocurrency. Despite this, the team at LocalMonero believes the ecosystem’s future is on course for further growth.

“LocalMonero has been around for most of Monero’s life. Fortunately, the Monero ecosystem has matured a lot over these years,” the announcement reads.

Part of the optimism is down to the potential for projects such as decentralised exchanges (DEXs) Haveno and Serai. Atomic swaps and Full-Chain Membership Proofs (FCMP) are the other key developments likely to bolster the Monero protocol.

Despite this outlook, Monero and other privacy coins have in recent months faced increased regulatory scrutiny and exchange delistings. 

A number of privacy-focused services, including Wasabi Wallet and Trezor CoinJoin have shuttered, while US authorities recently arrested the co-founders of privacy wallet Samourai Wallet.

The post Monero’s largest P2P trading platform shuts down appeared first on CoinJournal.

• Binance has announced its integration with the dYdX Chain mainnet.
• Deposits for DYDX are open, while support for withdrawals will go live once there’s sufficient volume.

Binance users can now directly deposit or withdraw dYdX (DYDX) tokens. DYDX is the native token of the L1 protocol dYdX Chain.

In an announcement on Tuesday, Binance said it had opened deposits for DYDX, with withdrawals set to go live once there is sufficient volume.

Binance completes dYdX mainnet integration

The dYdX Chain is one of leading platforms in the decentralised exchange market, currently the top Perpetuals DEX platform in the ecosystem. That makes a move by a leading crypto exchange such as Binance’s a major development that could spark further growth.

dYdX Chain shared news of the Binance integration on X.

.@binance now supports dYdX Chain DYDX💡https://t.co/tCC24zwVKt pic.twitter.com/mWtrAJ84Zl

— dYdX (@dYdX) May 7, 2024

While Binance’s integration means dYdX is now available for direct deposits and withdrawals on another top crypto platform, it also opens up the network for user access to numerous decentralised applications (dApps).

Currently, OKX is the other top cryptocurrency exchange to support DYDX.

The dYdX Chain is a community-governed Cosmos appchain that distributes 100% of the protocol’s fees to DYDX stakers in the USDC stablecoin. Token holders can run a validator or stake their DYDX to one in order to participate in the network’s security and governance.

dYdX Chain growth

dYdX ranks among top DEX networks by trading volume and market share. 

According to details from CoinMarketCap, the exchange’s v4 is currently second-largest by 24-hour trading volume and has a market share of more than 11%.

Growth metrics for the dYdX Chain from last week show the weekly trading volume exceeded $7.5 billion, while the number of daily active traders reached 2,100. 

Meanwhile, staking distributions amounted to over $1.24 million in USDC paid to stakers last week.

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