Schlagwort: crypto business

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Crypto market cap hits $1.61T as Memeinator token sale thrives

  • The cryptocurrency market cap has jumped to $1.61 trillion.

  • Data by CoinMarketCap shows that the valuation sits at $1.59 trillion.

  • Memeinator has raised over $1.7 million in the past few months.

Cryptocurrencies have become the best-performing assets this year with Bitcoin and other altcoins surging. Bitcoin is slowly nearing the psychological level of $45,000, a few months after it tumbled to $15,000. Ethereum, on the other hand, is comfortably above $2,300 while coins like ORDI, Aurora, and TokenFi have surged.

Crypto market cap is soaring

The surge in crypto prices has led to a big increase in the total market capitalization. Data compiled by CoinGecko shows that the total market cap has jumped to over $1.67 trillion. CoinMarketCap has a different figure, putting it at $1.59 trillion. 

Bitcoin has led the surge in this market capitalization since it stands at over $858 billion. If it was a company, Bitcoin would be the sixth biggest company in the world after Apple, Microsoft, Saudi Aramco, Alphabet, Amazon, and Nvidia. Bitcoin dominates over 53% of all digital currencies.

Ethereum is the second-biggest cryptocurrency with a market cap of over $272 billion. Other big coins that have driven the total market cap are Tether, BNB, XRP, and Solana. 

There are a few reasons why the crypto market cap has surged. First, it has rallied because of the rising hopes that the Securities and Exchange Commission (SEC) will approve a spot Bitcoin ETF. If it does this, there is growing optimism that companies will file for ETFs of cryptocurrencies like Ethereum, Ripple, and Solana.

Second, from a monetary policy stance, investors believe that the Federal Reserve has an opportunity to cut interest rates. If this happens, the view is that Bitcoin can survive in all market conditions since the initial surge happened in a low-interest rate environment. In a statement, an analyst told Bloomberg:

“What we’re seeing is a combination of the crypto cycle entering the bullish phase, the macroeconomic environment turning more favorable towards risk assets, and increasingly positive news about the incoming Bitcoin and Ethereum ETFs.”

Memeinator is thriving

The surge in cryptocurrencies has also led to demand for unlisted tokens. Memeinator, a new meme coin that seeks to become the next big thing, has scooped over $1.7 million from investors. They hope that the token will become as successful as other meme coins like Memecoin (MEME), Dogelon Mars, Pepe, and Bonk. 

Most of these meme coins have surged this year and created many millionaires along the way. Bonk is the 128th biggest cryptocurrency in the world with a market cap of over $422 million. Pepe is valued at over $672 million, which are huge figures.

Memeinator hopes to create value by incorporating both meme coin capabilities and artificial intelligence, two of the hottest themes in the industry. Therefore, there is a likelihood that the token will surge after its listing in the coming weeks. You can buy the MMTR token here.

Still, like all assets, investing in Memeinator carries some risks. The biggest risk is if the price crashes hard shortly after listing. If this happens, it is possible to have some losses. Therefore, the solution is to engage proper risk management strategies, including only allocating funds that you can afford to lose.

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TokenFi (TOKEN) price jumps 48%: Here’s why its among today’s biggest gainers

  • TokenFi (TOKEN) price has jumped 48% in 24 hours and 106% in the past week.
  • The gains come as the community prepares for major product launches, including staking.
  • TokenFi will also unveil the mainnet release of its Token Launcher and QuickLaunch Bot.

Ahead of what could be a defining few weeks for TokenFi, the price of its native token has seen a remarkable upside.

The gains for TOKEN comes as altcoins and meme tokens mirror Bitcoin’s spike to above $42k on Monday. For TOKEN, the upside also comes amid fresh interest in real world asset (RWA) tokenization.

As one of the projects looking to break into the market, trending alongside Visa, BTC and Gold today could be viewed as a significant show of interest.

TokenFi’s “packed” December

Although recently launched by the Floki Inu (FLOKI) team, TokenFi is attracting a lot of attention for its real-world assets (RWAs) tokenization platform. As reported, funds in the UK recently got the nod to offer tokenised investments.

Amid huge investments into the sector by industry behemoths, TokenFi is targeting a piece of this $16 trillion market with the release of its RWA Tokenization Module, set for 2024.

But ahead of this, the platform has lined up a series of product launches in the coming weeks. The market outlook combined with these developments could catalyse further momentum for TOKEN.

Among the project milestones set for this month is staking. This is scheduled to go live on both the Ethereum and BNB Chain mainnets on Friday, December 8, 2023.

TokenFi will follow this with the mainnet releases of its Token Launcher, QuickLaunch Bot, and Launchpad. The testnets for TokenFi Token Launcher and TokenFi QuickLaunch Bot went live in the last week of November, with users able create tokens “in just a few clicks and without touching a line of code.”

Apart from the two features, the platform will also unveil its user incentives system before the end of the year.

TOKEN price near ATH

In the past 24 hours TOKEN has jumped 48% in 24 hours and 106% this past week to reach $0.052. Trading volume for TOKEN reached $87.7 million on Tuesday morning, representing a 265% jump as market activity rose. 

With TOKEN/USD just shy of its all-time-high above $0.053 reached on November 2, it could be heading for $0.1 soon.

Today, it ranks among the top biggest gainers, alongside Casper Network (CSPR), Aurora (AURORA) and Memecoin (MEME).

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Riot purchases BTC miners worth $290M from MicroBT

    • Riot has announced its largest hash rate purchase with 18 EH/s supply from MicroBT.
    • The 66,560 latest generation M66S model BTC miners will cost $290.5 million.
    • Riot stock price rose following the news, trading to above $15 on Monday, December 4.

Bitcoin mining company Riot Platforms, Inc. (NASDAQ: RIOT), has announced the purchase of over 66k miners from Bitcoin mining hardware manufacturer MicroBT.

The purchase adds to the 33,280 miners Riot secured in an earlier agreement. It is the company’s largest so far, Riot CEO Jason Les said in a press release.

Riot purchases 18 EH/s of miners from MicroBT

According to the mining firm, the new order is for 66,560 of MicroBT’s M66S model, a recently announced miner boasting an efficiency rating of 18.5 Joules per terahash. The total cost for the miners will be $290.5 million, with the average price per TH at approximately $16.

Riot also said it had updated its long term purchase agreement with MicroBT, which gives the miner the option to acquire up to 265,000 additional miners. These purchases will bear the same terms as the newly announced order.

“The price of these future purchase options will not exceed our current order as announced today, giving Riot the ability to more effectively plan future capital requirements and providing protection from potentially higher market prices for miners in the future,” Les noted.

Deployment of the 33,280 MicroBT miners will happen in the first quarter of 2024, while delivery for the just announced batch will begin in the second half of next year. Riot expects the two orders to be fully delivered in the second half of 2025, with the company’s total self-mining hash rate surpassing 38EH/s.

If Riot completes the future purchases, it would acquire an additional 75 EH/s and see its self-mining capacity rise to over 100 EH/s.

RIOT price jumps as Bitcoin soars above $40k

News of Riot’s strategic purchases and expansion plans appears to have buoyed investors. As of Monday afternoon, the mining company’s stock price was up 8% on the day and nearly 24% in the past week.

RIOT was up 345% year-to-date at $15.07. However, it remains down on July 2023 highs above $20 and all-time high above $79.50 reached in February 2021. While the current price is significantly down on the ATH, the bullish outlook for Bitcoin could see RIOT rally higher.

On Monday, Bitcoin price reached highs of $42k for the first time since April 2022.

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Jellyverse secures $2 million seed round to build DeFi 3.0

  • DeFiChain-based Jellyverse raises $2 million from private investors to build its ecosystem.
  • The funding was secured in a seed funding round by Jelly Labs AG and Fintonomy LTD.
  • Jellyverse will feature protocols such as a DEX, staking protocol and stablecoin.

Jellyverse, a decentralised finance (DeFi) ecosystem built on the EVM-compatible layer-2 DeFiMetaChain (DMC), has secured a $2 million capital injection from private investors.

The seed round was raised by Jelly Labs AG and Fintonomy LTD, the two companies helping develop the Jellyverse. This DAO-governed ecosystem has JLY as the native token.

Jellyverse secures $2 million funding

According to details in a press release shared on Monday, Jelly Labs AG and Fintonomy LTD will utilise the financing to support the DeFi 3.0 platform’s development.

Specifically, the developers aim to advance DeFi adoption with integration of real-world assets and real-world price feeds. Initiated by the DeFiChain Accelerator core team, Jellyverse’s DeFi 3.0 products including decentralised portfolios, bonds, lending and staking are aimed at this goal.

“Jellyverse merges the pinnacle of past DeFi achievements with a fresh perspective. We present decentralised assets that pioneer a novel way to diversify your crypto portfolio, complemented by self-balancing multi-token pools,” Santiago Sabater, the co-initiator of Jellyverse, noted in a statement.

Jellyverse ecosystem to include a DEX, staking protocol and stablecoin

Jellyverse has several protocols under development. These include JellySwap, a decentralised exchange (DEX) built on Balancer; JellyStake,  a decentralised staking protocol; and jUSD, a stablecoin that allows users to borrow against DFI, dETH, the native Jellyverse token JLY as well as other cryptocurrencies.

The Jellyverse ecosystem will also feature jAssets and JellyBond. jAssets will be a protocol for crypto-backed user-generated tokens that will allow ecosystem participants to diversify their crypto portfolios via exposure to traditional financial markets. In this case, jAssets will reflect the prices of stocks, commodities and exchange-traded funds (ETFs), leveraging real-time price feeds.

JellyBond on the other hand is the protocol that bonds the stablecoin jUSD and jAssets, allowing users to earn yield on their tokens.

Jellyverse’s entry into the market could align with fresh momentum for the DeFi sector, which is showing resurgence amid bull market upside. The total value locked (TVL) was over $180 billion in November 2021 and fell to below $36 billion in mid-October this year.

According to DeFiLlama, the total TVL for all chains has risen to nearly $50 billion as the crypto market records a resurgence in prices.

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Standard Chartered Zodia integrates Ripple-owned Metaco’s crypto storage services

  • Zodia Custody, backed by Standard Chartered Bank, integrates Metaco’s crypto storage.
  • The move is aimed at enhancing global sub-custody services for cryptocurrencies.
  • The collaboration reflects the third generation of crypto custody, linking multiple custodians for secure and compliant management of digital assets.

In a strategic move to enhance global sub-custody services for cryptocurrencies, Zodia Custody, backed by Standard Chartered Bank, has integrated Metaco network’s crypto storage services.

This collaboration aims to redefine crypto custody and settlement processes, resembling traditional finance models. The move comes amid increasing demand for secure digital asset storage and reflects the evolution of the crypto industry.

Zodia Custody’s partnership with Metaco

Zodia Custody’s integration of Metaco network’s crypto storage services is designed to offer global sub-custody services for cryptocurrencies, enabling Metaco to store client funds securely and facilitate efficient fund management. CEO Julian Sawyer emphasizes the evolution of crypto custody into a third generation, where multiple custodians are interconnected.

This integration aligns with Zodia’s expansion, having recently extended its services in Hong Kong in response to rising institutional demand.

Metaco’s role and industry dynamics

Swiss-based firm Metaco, now under Ripple’s ownership following a $250 million acquisition earlier this year, leverages Ripple’s scale and market strength. The collaboration with Zodia Custody aims to accelerate reaching clients and providing advanced crypto storage solutions.

Notably, as the crypto industry grapples with trust and transparency issues, the integration of Metaco’s services into Zodia Custody signifies a crucial step in addressing these concerns. This move also aligns with broader industry trends, as evidenced by HSBC’s plans to launch a custody service in 2024, excluding cryptocurrencies, in partnership with Metaco.

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