Schlagwort: crypto business

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Avalanche Foundation allocates $50M to new tokenization program

  • Avalanche Foundation wants to promote tokenization on Avalanche with the $50 million program.
  • The tokenized assets initiative is dubbed Avalanche Vista.
  • A recent survey report suggested 77% of capital markets participants believe in tokenization of securities.

The Avalanche Foundation has announced an allocation of up to $50 million towards an initiative aimed at pioneering the future of tokenization on the Avalanche blockchain.

According to the foundation, the funds will be used to purchase tokenized assets, or “real world assets” minted on Avalanche. 

Eyeing tokenization on Avalanche

“Avalanche Vista,” is meant to demonstrate how tokenization is a valuable process in the creation of an on-chain digital representation of real world assets, the team noted. The allocation will help accelerate the growth of on-chain finance, with tokenization showcasing the critical role of blockchain across use cases such as asset issuance, settlement, and transfer.

Per the announcement, Avalanche Vista will apply across all types of assets, both traditional and blockchain-native. For the former, the program will consider equity, real estate, commodities, and credit. 

“Asset tokenization isn’t just the future of capital markets, it’s a critical driver of the present,” Ava Labs President John Wu said. 

He noted that the industry is seeing greater momentum from institutions building on-chain, and that Avalanche Vista is a milestone for Avalanche Foundation with regard to promoting this initiative.

Avalanche’s program follows a number of key developments within the asset tokenization space. Among these was the tokenization of interest in the KKR fund and the launch of tokenized assets marketplace IntainMARKETS.

A recent report by Security Token Advisors revealed that about 77% of participants across the capital markets see traditional securities being digitized over the next five to ten years. Meanwhile, the tokenized securities market is projected to grow to $20 trillion by 2030.

The post Avalanche Foundation allocates $50M to new tokenization program appeared first on CoinJournal.

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Avalanche price prediction as it targets a $30 trillion industry

  • Avalanche has underperformed the crypto market in the past few weeks.

  • Avalanche is now targeting the $30 trillion tokenization industry.

Avalanche price remained under pressure as cryptocurrencies retreated. The AVAX coin retreated to a low of $12.84, the lowest level since July 13th. It has dropped by more than 16% from the highest point this month.

Avalanche focuses on tokenization

Avalanche crypto price has been under intense pressure in the past few months as activity in its ecosystem continues. A closer look at its DeFi platform shows that the total value locked (TVL) in its ecosystem stands at over $1.76 billion. 

At its peak, Avalanche had a TVL of over $21 billion. Some of the most popular dApps in its ecosystem are Wonderland, Aave, Benqi, GMX, and Trader Joe among others. These dApps have seen their activity retreat. For example, the trading volume of GMX in Arbitrum is much bigger than that in Avalanche.

Avalanche is now focusing on tokenization. In a statement, the Avalanche Foundation said that it willl purchase tokenized assets minted in its ecosystem worth over $50 million. This program has been christened as Avalanche Vista.

Most analysts believe that tokenization is the future of the crypto industry. For example, Franklin Templeton, one of the biggest companies in finance, announced that its OnChain US Government Money Market Fund (FOBXX) was now in Polygon. In a report, Boston Consulting Group has estimated that tokenized assets could jump to over $30 trillion.

Avalanche is now entering an industry that is highly competitive. Some of the top players in the industry are Ethereum, Zilliqa, Solana, and Polygon. In a note, the CEO of Intain said:

“Moving parts of the asset administration process on-chain allows issuers to have one workflow and one system of record, enabling a better, more seamless user experience for service providers and investors.”

Avalanche price prediction

The daily chart shows that the AVAX price has been under pressure in the past few days. It has moved below the 25-day and 50-day exponential moving averages (EMA). The token has moved slightly above the lower side of the ascending channel shown in black. Further, the MACD is nearing the neutral point.

Therefore, the AVAX token will likely continue falling as sellers target the key support at $11.10, the lowest level on June 18th. 

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Ducati announces NFT debut on XRP Ledger

  • Ducati will debut its digital collectibles on the XRP Ledger.
  • The Bologna-based motorcycle company will work with NFT PRO on this project.
  • XRP Ledger is a decentralised public blockchain that uses XRP as its native cryptocurrency.

Ducati, a Bologna-based motorcycle manufacturer, is making a foray into Web3 with an upcoming launch of a digital collectible project.

The company said in an announcement on Tuesday that it will deploy its new NFT collection on the XRP Ledger, a decentralised public blockchain network. Ripple is a contributor on the XRPL.

Ducati makes entry into Web3

Ducati has partnered with NFT PRO, a corporate white-label NFT solution, to bring the project to life. According to the company, the digital collectibles project its digital strategy as it looks to add to the engagement and experiences of its fans.  

“Entering WEB 3.0 is another way to get closer to the Ducatisti community by further extending the number of services offered to them. It also represents an opportunity to meet and make ourselves known to a new community of NFT enthusiasts, giving them the opportunity to live unique Ducati-style experiences and collect the digital assets that we will develop exclusively for this new dimension of the brand,” Claudio Domenicali, Ducati CEO, said in a statement.

The bike company says it will release more details in coming months as it rolls out new digital services and goods.

Ripple’s XRP Markets Report published in April indicated that the XRP Ledger logged increased activity in the first quarter compared to the previous three month period. In terms of on-chain activity, the company noted a 9% increase in transactions from 106 million to 116 million between Q4, 2022 and Q1, 2023.

NFTs are a key component of the XRPL activities, as it has seen users mint more than 1 million assets. DEX volumes, which jumped 34% in the period covered in the report, also demonstrated the increased usage of the blockchain network, Ripple said.

The post Ducati announces NFT debut on XRP Ledger appeared first on CoinJournal.

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Top meme coin pumps on X speculation: Does this impact Shiba Memu?

  • Dogecoin price rallied to above $0.076 on Tuesday, a day after Elon Musk’s Twitter rebranded to X.
  • Shiba Memu (SHMU) presale on the other hand has seen $1.14 million raised so far amid huge interest in meme tokens.
  • The launch of the Shiba Memu’s AI dashboard could have a significant impact on the token’s performance.

Shiba Memu’s presale is on fire with nearly 40 million SHMU sold and over $1.14 million raised within weeks of the revolutionary meme project’s token sale launch.

Meanwhile, meme coins have added more than $730 million to their total market cap in the past 24 hours, with most of that down to Dogecoin (DOGE)’s latest pump.

Elon Musk’s X Payments could add Dogecoin

DOGE price rose to highs of $0.078 early Tuesday after a spike in positivity since Monday, primarily injected by Twitter’s rebranding to X. More than that, the speculation that X could incorporate DOGE in its payment feature sees Dogecoin price on the verge of what could be a mega upside leg.

Elon Musk hinted at the possibility of DOGE becoming a payment currency on the rebranded X platform when he put the meme coin’s symbol next to the X logo in his bio on Monday. That action fuelled speculation that the cryptocurrency could soon be part of the “everything app” that Musk and team envision for X.

Raoul Pal, CEO of Real Vision believes this is a possibility even as he sees AI playing a big role in X’s future developments.

“Two things I’ve said when Elon bought “X”:  Elon bought it for the AI, and the free speech angle is to give it an unbiased model. He needs the AI to train the Optimus robot. He will use crypto to be able to make global payments for creators etc. My guess is he uses Doge.”

What makes Shiba Memu different from Dogecoin?

What sets Shiba Memu apart from Dogecoin and other meme coins is that it integrates blockchain technology and artificial intelligence to create an autonomous marketing powerhouse. 

While most meme coin ecosystems, including Dogecoin, rely on market hype for traction, Shiba Memu is taking the game a notch higher by making this entirely AI-driven.

Its AI technology works via robotastic dashboard – the marketing genius behind this project and one that could catapult the project above rivals in terms of community traction and adoption. Two narratives likely to put Shiba Memu on top is the increased adoption of crypto and the emergence of AI as a strong narrative.

Visit the Shiba Memu presale page to learn more.

Dogecoin price prediction

While Musk could go for any other coin when he eventually integrates crypto into X Payments, much of the global speculation is that DOGE sits at the top of the list.

If this happens, we could see the price of Dogecoin could skyrocket. The same happens in 2021 when Tesla announced it would accept DOGE as payment method for car purchases. Dogecoin hit its ATH of $0.73 in May 2021, rallying from lows of $0.009 in January for a staggering 362x gain in four months.

In 2023, Dogecoin has fluctuated between $0.10 and $0.06 and currently hovers below $0.08.

Although the immediate target remains the elusive $0.1, bulls are likely to see the all-time high of $0.73 as the barrier that will need to be broken if DOGE has to hit $1. A move by Elon Musk’s X could catalyse such a breakout.

Does Dogecoin price impact Shiba Memu?

Dogecoin is the top meme coin by market capitalization, and also the most popular one today thanks to its status as the original meme token. The native DOGE’s rally in 2021 and on multiple occasions whenever Musk tweets about it has seen other meme coins pick up some upward momentum.

In fact, it is this scenario that has seen several dog-inspired tokens spawned, particularly in 2023. The likes of PEPE and FLOKI have as a result gained massive traction and are competing to take a chunk of the DOGE market.

Shiba Memu is no different and its trajectory could follow the popular meme tokens’ recent spectacular price gains.

SHMU will be priced at $0.0244 at the end of its 8-week presale. Per the roadmap, the AI dashboard will go live in Q1, 2024 and SHMU will list on exchanges in Q3 that year.

While Shiba Memu price might not mirror DOGE’s 2021 explosion, the meme project’s unique model has the potential to fuel a enourmous price rally.

Do you want to join the presale? Click here.

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Dogecoin up 4% as X payments speculations return

Key takeaways

  • DOGE is outperforming the other major cryptocurrencies, up by 4% in the last 24 hours.

  • The positive performance comes as speculations return that DOGE could become a payment option on X (Twitter).

DOGE outperforms the broader market

DOGE, the native coin of the Dogecoin ecosystem, is the best performer amongst the top 10 cryptocurrencies by market cap today. The coin has added 4% to its value in the last 24 hours, outperforming Bitcoin and other major cryptocurrencies.

At press time, the price of Dogecoin stands at $0.0771. The positive performance comes as speculations returned that DOGE could be used for payments on Twitter, which was rebranded to X by Elon Musk earlier this week.

Market analysts believe that DOGE’s price could soar higher thanks to this speculation. Kryptomon Chief Marketing Officer Tomer Nuni told CoinDesk that;

“The speculation is that advertisers could be able to pay DOGE for ads and for other uses on Twitter. We saw the same happening when Tesla revealed the ability to pay for its goods with DOGE. So the speculation could be around Musk’s businesses and stakeholdings starting to accept crypto, as Tesla does.”

Dogecoin is currently the seventh-largest cryptocurrency by market cap, behind Circle’s USDC stablecoin.

Twitter is reportedly designing a system that would allow users to make payments via the social media platform. However, Elon Musk wants fiat currencies to be supported before Twitter will include cryptocurrencies as payment options. 

Bitcoin drops to the $29k level

While Dogecoin was rallying, Bitcoin was tanking. Bitcoin is down by more than 2% in the last 24 hours, briefly dropping below the $29k level late on Monday.

At press time, the price of Bitcoin stands at $29,255. The poor performance came following the Wall Street Journal’s report on Monday, alleging possible wash trading activities by the world’s largest cryptocurrency exchange. 

The post Dogecoin up 4% as X payments speculations return appeared first on CoinJournal.