Rexas Finance (RXS) up 100% in less than a month, is this the next Solana (SOL)?

The cryptocurrency market has witnessed a positive growth surge, and in conjunction with this, Rexas Finance (RXS) has increased by over 100% in less than a month. With its cutting-edge technology for the tokenization of physical assets and an expanding ecosystem, some people are starting to wonder: Is Rexas Finance the new Solana (SOL)? There has always been a question of whether RXS could emulate the same skyrocketing increase as Solana. This necessitates studying the curve of SOL, identifying the key factors of its success, and considering why Rexas Finance might be able to replicate, if not exceed this level.

The rise of Solana (SOL): A blockchain revolution

The use of Solana’s programming language is graphical in nature, and thus the UI elements may match ideas from vocabulary techniques. The graph of Solana (SOL) has largely revolved around being one of the most effective storytelling platforms within the cryptocurrency space. Starting from $1.50, Solana’s currency progressed remarkably in 2021 to hit $260, marking more than a seventeen thousand percent growth. 

Its growth was additionally helped by a very efficient blockchain capable of processing thousands of transactions per second at very low transaction costs. As a result, Solana provided stiff competition to Ethereum. 

Due to its quick, scalable, and secure network, Solana managed to attract developers, DeFi projects, and NFT marketplaces in no time, enabling it to rank as one of the top 10 cryptocurrencies. With the support of leading investors and growing interest, Solana quickly entered the geopolitics of the crypto world as a quick and cheap version of its competitors’ blockchains.

Will Rexas Finance (RXS) find a sustainable model like Solana did?

While Solana made efforts to enhance the scalability of the blockchain, Rexas Finance (RXS) is making a play for a different, but probably equally large, opportunity: the focus on asset tokenization. 

This new area gives cryptocurrencies access to a huge market by creating tokens for assets like real estate, gold, hiring goods, and other expensive physical products that cannot be traded as currencies. Rexas Finance is set to change the way and cost at which real-world assets (RWA) are tokenized. 

The global market for real estate is over $280 trillion. Investing in ways to map expensive physical assets like real estate and gold onto the blockchain can now provide real returns on investment.

RXS has been in the market for a little under a month but has seen its price surge above 100% within that time—a positive sign for the returns it offers to its consumers. If this project holds to this same growth trajectory, it could potentially offer similar returns to Solana, potentially rewarding its early investors with windfalls.

Rexas Finance ecosystem: Enhancing stakeholder value

The most fundamental reason for Solana’s success is attributed to the presence of an active ecosystem of both developers and users. In the same way, Rexas Finance has created an ecosystem that addresses the problem of real-life asset digitalization and adds value for investors.

Some exceptional highlights of how the Rexas Finance ecosystem works include:

  1. Rexas Token Builder: This tool enables individuals and organizations to issue and sell their own tokens based on real-world assets. Whether it’s real estate developers sourcing funds for a building through tokenization or individuals selling fractional ownership in their collections, the Rexas Token Builder offers a simplified approach to the tokenization of assets.
  2. Rexas Launchpad: Investors can buy equity stakes in projects backed by the tokenization of project assets in the form of shares. Rexas Launchpad brings together asset owners and investors from all over the world, replacing traditional systems of fundraising with promising decentralized methods of financing projects.
  3. Rexas Estate: One of the key features of the platform is real estate tokenization, which allows investors to own a stake in properties. This facilitates liquidity in real estate and lowers the entry barrier to this class of high-end investments.
  4. Perpetual Intentions: Since solving real-world problems is central to Rexas Finance’s long-term vision, it echoes Solana’s accomplishment with its fast blockchain network. It is projected that as more assets become tokenized and join the platform, the supply and pricing of RXS will perform well.

Why Rexas Finance is getting the attention of huge investors

Rexas Finance is not only gaining attention from retail investors—crypto whales and institutional investors are noticing it too. In fact, during its Stage 3 presale, Rexas Finance raised over $2.75 million when demand was high. Now, Stage 4 has been activated, providing tokens for $0.06 each. 

Many investors are rushing to get RXS due to its practical use and the massive total addressable market (TAM) it taps into. Moreover, some analysts believe that from the current presale stage, RXS could appreciate to $50, which would make RXS one of the best investment opportunities in the crypto investment space today.

Additionally, Rexas Finance has organized a $1 million giveaway competition, which is already stimulating even more interest in the project and provides an extra incentive for early investors. 

Conclusion: Some analysts believe Rexas Finance could follow in Solana’s footsteps

While Solana has already made its mark as one of the best blockchains globally, Rexas Finance (RXS) seems to be making waves in the tokenization of real-world assets. Rexas Finance could be poised to transform asset ownership and exchange by bridging conventional industries worth trillions, such as real estate and gold, with blockchain technology. 

Having achieved over 100% growth within a month and cultivated a thriving ecosystem of use cases, Rexas Finance could arguably become the next big success, similar to how Solana was portrayed in its infancy. As more attention is directed toward this project and large investors continue to place their hopes on its future, RXS’s dominance seems within reach. For anyone wanting to get in early, Stage 4 of the presale is still live, and tokens are offered for $0.06. 

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

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SEC sues crypto market maker Cumberland DRW

  • SEC has sued market maker Cumberland over offering and sale of unregistered securities.
  • The regulator says Cumberland violated the US securities laws by operating as an unregistered dealer.

The US Securities and Exchange Commission has sued Cumberland DRW LLC, a Chicago-based crypto market maker, for acting as an unregistered securities dealer.

SEC said in a press release on Oct. 10 that Cumberland had violated the securities laws by buying and selling of over $2 billion worth of crypto assets since March 2018. In terms of crypto regulation, the SEC says the assets in question were “offered and sold as securities.”

Investment securities

According to the press release, Cumberland provided these crypto assets via its own accounts, the SEC added, which meant the company operated as an unregistered dealer.

The agency’s charge against the market maker also notes Cumberland’s description of itself as a “leading liquidity provider”, and traded with counterparties via telephone or its online platform Marea.

“Despite frequent protestations by the industry that sales of crypto assets are all akin to sales of commodities, our complaint alleges that Cumberland, the respective issuers, and objective investors treated the offer and sale of the crypto assets at issue in this case as investments in securities,” Jorge G. Tenreiro, acting chief of the SEC’s crypto assets and cyber unit, said in a statement.

Tenreiro added that Cumberland profited from these activities but did not provide investors and the broader market the crucial protections that registration with the regulator offers.

SEC seeks permanent injuction against Cumberland

In a complaint filed at the US District Court for the Northern District of Illinois, SEC alleges violation of Section 15(a) of the Securities Exchange Act of 1934.

In its argument, it wants a permanent injunction against Cumberland. The crypto platform should also forfeit all ill-gotten gains, and be slapped with a civil penalty.

SEC’s lawsuit against Cumberland come a day after US prosecutors charged 14 people and four crypto companies over market manipulation and fraud. Oct. 10 also saw Ripple file a cross-appeal following the regulators decision to appeal its case against Ripple.

Earlier this week, Crypto.com sued the SEC after the regulator issued a Wells Notice to the crypto exchange.

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Uniswap unveils own layer-2 network Unichain, UNI price soars 11%

  • Uniswap has launched its own layer-2 network called Unichain.
  • The OP Stack-powered L2 is in testnet and is designed to improve transaction speed, lower costs and boost liquidity.
  • UNI token’s price surged to $8.14, its highest level in over two months

Uniswap, a leading decentralized exchange platform, has announced a major development for its network and ecosystem. The news helped Uniswap’s native token UNI to soar double digits on Thursday.

On Oct. 10, the Uniswap team revealed that the DEX platform was looking to launch its own layer-2 network on Ethereum. The L2, dubbed Unichain, is earmarked for DeFi.

Per the Uniswap Labs announcement, its a solution to transaction speed and costs for the exchange’s users. Also key to the launch is the question of liquidity.

Unichain is powered by Optimism’s OP stack and offers 1 second block times. Sub-block times of 200-250 milliseconds is also part of the development.

“This type of speed isn’t just great for UX, it also improves market efficiency and lowers value lost to MEV,” Uniswap Labs wrote on X.

Uniswap has partnered with OP Labs for native interoperability, with this enabling implementation of cross-chain messaging and cross-chain liquidity. The platforms plan to bolster the ecosystem’s connectivity with cross-chain swapping across the Uniswap interface and wallet.

According to details in today’s announcement, the Unichain testnet is live, while the mainnet will go live later in Q4, 2024.

UNI price soars 11%

Native Uniswap DEX token UNI is among the top gainers in the crypto market. This follows a price explosion for the cryptocurrency after the news emerged.

With most altcoins down on the day or struggling for upside, UNI spiked more than 11% to hit highs last seen in July 2024. The token’s surge to the multi-month high of $8.14 saw Uniswap rank as the top performing coin among top 100 coins by market cap.

UNI traded around $8.05 at the time of writing, still up by more than 9%.

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Ripple launches crypto custody solution for banks

  • Ripple has unveiled new features for its custody solution for banks and fintechs.
  • The company is looking to tap into the growing tokenization and RWA market.

Ripple has launched new features that bring digital asset custody to banks and fintechs, the blockchain company announced on Oct. 10.

According to the announcement, the company’s Ripple Custody platform now supports bank-grade custody technology. Customers will be able to tokenize a wide range of assets, including crypto, fiat, and RWAs, all while leveraging Ripple’s XRP Ledger integration.

Other notable features include transaction screening with Elliptic integration and hardware security via AWS Cloud HSM. In this case, Ripple Custody brings banks and other financial technology companies the capacity to build and scale their businesses, tapping into software infrastructure that adds key layers of security for transfers and settlements.

“Ripple’s custody technology offers a single platform for safeguarding and managing digital assets, designed with the security and compliance standards that top global banks and financial institutions have come to rely on, ” said Aaron Slettehaugh, SVP of product at Ripple.

Ripple eyes rapidly growing crypto custody market

The new move aims at helping Ripple make inroads in a global digital asset custody market expected to hit $16 trillion by 2030. The company also targets the tokenization trajectory that will see 10% of the world’s gross domestic product on-chain by 2030.

Currently, Ripple Custody offers its services to major banks across the globe, including in the US, Switzerland, Germany, France, the UK, Singapore and Hong Kong. Industry players utilizing Ripple Custody include DBS, BBVA Switzerland, Societe Generale-FORGE, and Archax.

Ripple acquired Swiss-based custody firm Metaco in May 2023, taking steps that have seen it grow its crypto custody business. Standard Chartered’s Zodia Custody integrated Metaco’s digital assets custody solution in December 2023.

Earlier this month, the company secured an in-principle approval to expand its services in the United Arab Emirates.

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BTC risks dropping below $60k as Bitcoin Dogs trades above $0.006

Key takeaways

  • Bitcoin trades in the $60k region and could dip further if the bearish momentum continues.
  • $0DOG is down 6% in the last 24 hours but continues to trade above $0.006 per coin.

BTC could dip below $60k as bears remain in control

The cryptocurrency market has been bearish since the start of the week, with the prices of most coins and tokens currently in the red. Bitcoin, the leading cryptocurrency by market cap, is down more than 2% in the last 24 hours.

At press time, Bitcoin’s price is $60,737, but if the bearish trend continues, it could drop below $60k soon. Analysts believe Bitcoin is consolidating and could rally higher in the medium term. 

What is Bitcoin Dogs?

The cryptocurrency market has been consolidating in recent weeks, but new projects continue to emerge, offering investors more ways to invest in the market. Bitcoin Dogs is a new project offering products and services to users in the Bitcoin ecosystem. 

It leverages the growth of the Bitcoin blockchain to become a leading coin. Bitcoin Dogs is the first BRC-20 token ICO on the Bitcoin network and seeks to add another utility layer to the blockchain. 

Following its successful presale, where it raised $13 million, Bitcoin Dogs is currently working on incorporating the basic features of cryptocurrency, non-fungible tokens (NFTs), decentralized finance (DeFi), and Web3 culture to enable it to become a solid Bitcoin-based project. 

$0DOG, Bitcoin Dogs’ native token, is live on several crypto exchanges, including MEXC, Gate.io, Uniswap, Unisat, and others. $0DOG is also live on Coinmarketcap and DEXTools. 

$0DOG underperforms alongside the broader crypto market

$0DOG is underperforming, similar to the broader crypto market. The token has lost 6% of its value in the last 24 hours but continues to trade above $0.006 per coin. 

Despite the bearish market, the Bitcoin Dogs team continues to roll out new features and services for its users. Earlier this week, the team rolled out the $0DOG-ETH LP Farm, with an APY of 447%. 

This latest development allows investors to add liquidity to the Bitcoin Dogs ecosystem and receive massive returns on their investments. 

Should you buy the Bitcoin Dogs token with this retracement?

The cryptocurrency market has been underperforming in recent weeks, and Bitcoin Dogs is no exception. $0DOG is down from the all-time high of $0.01792 it achieved last month. 

The retracement provides a buying opportunity for investors as the token could soar higher once the bulls regain control of the broader cryptocurrency market. The team is already rolling out its products and services, including a blockchain-based game and several staking opportunities. These developments could push $0DOG’s price higher in the medium to long term.

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