Kategorie: Crypto News

• Social Network has announced its mainnet launch, scheduled for April 22.
• The fair launch will also include a gamified “touch grass” NFT experience for participants.

Social Network, a Bitcoin staking Layer-2 solution, has announced the launch of its mainnet as it seeks to add to Bitcoin’s scalability.

The platform’s mainnet launch is set for April 22, and will herald the start of a new incentive model for the burgeoning economy on the world’s largest blockchain network.

Social Network’s fair launch to include gamified experience

According to details shared with CoinJournal, Social Network’s launch comes after the team recently finalized a key milestone. This involved the launch of 369 Regens on Bitcoin’s block 9, a block that BTC creator Satoshi Nakamoto mined in 2009.

Social Network opened early access to the fair launch to more than 10,000 testnet contributors and the 369 Bitcoin Regen holders on April 1. The project will expand this to the public on April 14.

“Social Network represents a significant leap forward for Bitcoin, making it more accessible, efficient, and beneficial to the environment,” said Sukhveer Sanghera, Founder and CEO of Earth Wallet and Core Contributor to Social Network.

“We are excited to invite early adopters to join us on this journey to unlock Bitcoin as a utility for Earth scale regeneration, and experience the benefits firsthand,” Sanghera added.

As well as the fair launch, Social Network has revealed plans for an NFT experience for users.

While the platform looks to bolster decentralized access to staking rewards on Bitcoin, the Pokemon Go-like offering is designed to provide a gamified experience for participants.

The target, according to the team, is to promote both a fair global distribution as well as align the ecosystem with its sustainability goals.

“The gamification aspect of Social Network’s fair launch is a unique and engaging way to encourage people to explore the outdoors and reconnect with nature,” Elizabeth Tan, a Social Network contributor said.

The post Bitcoin staking Layer-2 Social Network announces mainnet launch appeared first on CoinJournal.

Binance has announced an end to platform support for Bitcoin NFTs.

Ordinals, or NFTs on the Bitcoin blockchain, have exploded in recent months even as the broader ecosystem experienced a lull.

Binance announces end to Bitcoin NFTs support

A blog post published on Thursday noted that the trading of Bitcoin NFTs on the Binance NFT marketplace ends on April 18. The exchange has advised all users to to withdraw all their Bitcoin NFTs via the BTC network before May 18.

“Starting from 2024-04-18 06:00 (UTC), users will no longer be able to buy, deposit, bid on, or list NFTs on the Binance NFT Marketplace via the Bitcoin network,” Binance said in a notice on April 4.

Binance will also cancel all listing orders on April 18, while its NFT marketplace will end all support for Bitcoin NFT airdrops and other related activities after April 10.

Runestone NFT holders also have until April 10 to withdraw their assets “to ensure they still have the opportunity to receive any associated tokens, utilities, and benefits.”

Binance stated that the decision to end support for NFTs on Bitcoin is “part of its ongoing efforts to streamline product offerings.”

The exchange added Bitcoin NFTs to its marketplace in June 2023.

Meanwhile, the Bitcoin ecosystem has seen a spike in Layer-2 and Ordinals projects as developers look to tap into the Bitcoin network’s security and reliability.

Recently launched projects that might have eyed the Binance NFT Marketplace may have to reconsider their options.

The post Binance to cease support for all Bitcoin NFTs appeared first on CoinJournal.

• PayPal enables use of PYUSD in cross-border transfers for Xoom users
• Xoom users in the US can convert PYUSD into USD and send money to 160 countries.

Xoom, the international money transfer platform of payments processing giant PayPal, has announced that it now supports the use of PayPal USD (PYUSD) as a funding option for users in the United States.

In an announcement today, the cross-border money transfer platform said eligible US users can now convert PYUSD into US dollars when looking to send money to friends and family.

PayPal expands PYUSD adoption

PayPal USD is a USD dollar-denominated stablecoin that PayPal launched in August 2023 and its use on Xoom will now see US users able to send money across borders to 160 countries.

There’s no crypto sale fee when converting PYUSD to USD and no Xoom transaction fees, the platform announced.

“When we decided to bring PayPal USD to market, we had two objectives we wanted to achieve: create something that had a stable value to maximize user confidence and ensure it had utility for commerce and payments,” Jose Fernandez da Ponte, SVP of Blockchain, Cryptocurrency, and Digital Currency Group at PayPal noted in a statement.

By enabling Xoom users in the US to tap into the new funding option, PayPal is expanding on its mission to bolster mainstream adoption of crypto, the PayPal exec added.

PayPal’s move to expand usage of its PYUSD stablecoin comes as the ecosystem sees increased adoption. Top stablecoins USDT and USDC continue to expand, while Ripple has announced plans to launch its own stablecoin pegged to the US dollar later this year.

According to data from CoinGecko, the current stablecoin market capitalization is $154 billion, with $106 billion for USDT and $33 billion for USDC.

PYUSD is the 12th largest stablecoin by market cap at $190 million.

The post Paypal’s Xoom adds PYUSD as funding for cross-border money transfers appeared first on CoinJournal.

• Bitbot aims at becoming the top trading bot on Telegram.
• The project’s non-custodial feature has the crypto trading community excited ahead of its launch.
• The continued influx of new money via spot ETFs and Bitcoin’s upcoming halving are key bullish factors for Bitbot price prediction.

Cryptocurrencies are trading green as the top coins Bitcoin and Ethereum see slight gains. As the market looks to bounce, investor attention on new crypto project Bitbot suggests this could be one of the top tokens to buy this year.

What sets Bitbot apart from other Telegram bots?

As the market eyes further impetus from spot Bitcoin ETFs, there’s renewed optimism on a potential SEC approval for spot Ethereum ETFs. This outlook has traders on a new quest as they look to tap into potential opportunities. 

One of the areas attracting most attention is the Telegram-based crypto trading space.

Telegram bots offer access to automated trading tools, including sniping and copy trading. Now almost every other solution boasts integration of artificial intelligence (AI).

However, Bitbot stands out from the rest as it offers the first non-custodial trading solution on Telegram. This groundbreaking move that ensures it’s “your keys, your wallet, your assets” for users has elevated the new project above other trading bots such as Unibot and Banana Gun.

The key difference is Bitbot’s focus on user security. Rather than compromise on security to offer convenience, Bitbot avoids this trade off by implementing a self-custody solution backed by MPC technology from Knightsafe.

The decentralised digital self-custody firm’s wallet technology ensures users have complete control over their assets, adding to the overall safety measures.

Bitbot’s upcoming launch therefore has the crypto trading community on Telegram extremely excited.

Bitbot sails to stage 9 of presale

Security and top institutional-grade trading tools make Bitbot one of the most anticipated crypto trading bot in the market. 

That anticipation is visible from the buying frenzy around BITBOT, the native utility token.

BITBOT holders will enjoy a share of the daily revenue as well as access other exclusive perks, including discounts and airdrops. Traders are keen on these perks, which add to the non-custodial trading offering, anti-MEV and anti-rug pull features to put the bot top of most users’ list of best AI-powered Telegram trading bots.

Bitbot (BITBOT) has raced through the first eight stages amid this interest. 

Currently in stage 9, Bitbot has raised more than $1.9 million. The token’s price is $0.0148 and will rise through the remaining six stages to reach $0.02 in the final stage.

As well as the early advantage of buying at discounted prices, the presale also offers giveaways and referral bonuses, which currently stands at 5%.

Bitbot price prediction: Can it reach $1 in 2024?

Bitbot will launch its token on exchanges this second quarter. The roadmap also highlights this time frame for the debut of its non-custodial trading bot. Community anticipation is huge after recent product updates provided demos to how the bot works.

This factor could combine with other positive catalysts to boost BITBOT price in coming months. Leading the tailwinds is the potential bull market explosion for Bitcoin.

The benchmark cryptocurrency has retreated from its all-time highs above $73k. However, with the Bitcoin ETFs seemingly only at the beginning of greater adoption and BTC halving weeks away, experts say BTC could explode past $100k in 2024.

With Unibot having seen a 200x uptick after its launch, its possible Bitbot, which offers a superior bot, could outshine it. Depending on the listing price, it’s likely BITBOT price will target the $1 mark this bull cycle.

To learn more about Bitbot, visit the official website.

The post Bitbot price forecast as BTC holds key level appeared first on CoinJournal.