Lưu trữ hàng tháng: Tháng sáu 2024

DeFi

Jellyverse launches DeFi 3.0 tools on Sei

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Jellyverse, the DeFi platform that serves as Balancer’s exclusive partner on the Sei blockchain, has launched a new decentralized exchange (DEX) as it targets further growth within the DeFi space.

The Jellyverse team revealed the new ecosystem via a press release shared with Crypto.news on Monday.

Announced features include a DEX protocol called JellySwap; staking solution JellyStake and a synthetics protocol dubbed ‘jAssets’.

Jellyverse integrates DeFi 3.0 tools

The decentralized finance market continues to see remarkable resurgence following the bear market impact of the last cycle.

As the cryptocurrency industry takes greater strides with the fresh traction in lending, staking, real-world assets and others, Jellyverse says its latest move aims at creating a new way for the community to diversify their portfolios.

DeFi 3.0 is that goal, with tools such as jAssets, the DEX protocol JellySwap and JellyStake key to achieving this.

JellySwap is a Balancer friendly-fork that introduces ‘WeightedPools’ and will support up to eight different tokens. There’s also ‘composable stable pools’ that users can tap into to customize their investment ratios, leveraging up to five tokens for every pool.

Meanwhile, JellyStake will offer an opportunity for stakers to earn rewards.

jAssets, on the other hand, provides for a synthetics protocol where users can create tokens and track price feeds of Real-World Assets (RWAs), including stocks to commodities.

“Our mission is to redefine DeFi by connecting it with real-world assets, ensuring robust and sustainable growth regardless of market trends,” Santiago Sabater, the co-founder of Jelly Labs AG, said in a statement.

The DeFi 3.0 tools stand to enable a new path to portfolio diversification in the crypto market, Sabater added.

Jellyverse unveils inaugural Pool Party event

As Jellyverse marks this milestone, it’s planned a new token offering for the community. The platform’s first Pool Party event will commence June 11 at 12 pm UTC, providing a unique chance for users to land Jelly Tokens ($JLY).

Interested community members will be able to buy SEI tokens, with these then pooled with JLY to generate the first liquidity pool.

The offer will be open for four days, or until the JLY tokens run out.

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Theo Crypto News

DeFi

Jupiter founder: Memecoins are user-generated money 

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Jupiter’s founder said memecoins could be a gateway for attracting new Web3 users en masse and an on-ramp for understanding the larger cryptocurrency stack.

According to Jonathan Oggiono, commonly known as “Were Meow,” Solana memecoins and similar tokens on other blockchain networks herald a new user value proposition paradigm. 

“In the web2 era, it was all about user-generated content. In the web3 era, it’s all about user-generated money,” said Oggiono via a June 10 thread on X.

Memecoin mania 2024

Meme tokens, especially on Solana (SOL) and Base, have all but claimed the spotlight in this year’s market uptrend alongside institutional adoption like spot Bitcoin ETFs. 

While skeptics scrutinize the so-called ‘casino behavior,’ users speculate on the memetic crypto market. Some traders have turned a few bucks into hundreds of thousands of dollars; others have even made millions from early-stage memecoin investments. 

New projects such as Dogecoin (DOGE) and Shiba Inu (SHIB) have also challenged market leaders from previous cycles.

Per CoinGecko, new tokens like Dogwifhat (WIF), Brett (BRETT), Book of Meme (BOME), and Dog.Go.To.The.Moon (DOG) broke into the top 10 memecoins per market cap within weeks to months of launching. 

Diving into web3

Oggiono also opined meme protocols are positioned to offer first contact with the broader web3 ecosystem. Jupiter’s founder believes memes can open a deeper understanding of crypto infrastructure, decentralized finance (defi), and even more niche sectors like real-world assets. 

The remarks echo sentiments shared by Solana co-founder Raj Gokal at Consensus 2024. As crypto.news reported, Gokal stated that crypto meme projects could “intuitively onboard users.” 

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Theo Crypto News

DeFi

Squads Labs announces first ever Solana smart wallet

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Squads Labs, the platform behind the multisig and Solana Virtual Machine (SVM) smart account standard Squads Protocol, has announced the launch of Fuse.

Fuse is the first smart wallet on the Solana blockchain, the Squads Protocol core contributor noted in a blog post on Monday.

First smart wallet on Solana

Fuse is a retail-focused wallet app that is now available on iOS devices via a public TestFlight.

The wallet leverages smart accounts to redefine a user’s crypto asset management. It reimagines the functionality of crypto wallets to cater to users’ personal crypto assets management needs.

“For the first time, Solana users can access the same smart account technology used by Solana’s largest protocols, teams and investors,” Squads Labs wrote.

With Fuse, users can tap into a wallet mechanism that offers dual-layered security, bolstering wallet security. The wallet utilizes two primary keys, or Active Keys.

There’s a “Device Key” that stays on a users’ phone, and taps into Apple’s biometric authentication (Face ID) for security.

Meanwhile, the “2FA Key” ensures all transactions go through two-factor authentication for all transactions. While Fuse automatically sets the 2FA key to the user’s iCloud, one can reset this to Ledger as part of their upgrade.

Having every transaction require both verification methods helps remove the single point of failure that characterizes traditional wallets, the Squads team explained. 

Squads Labs secures million funding

As well as the news on Fuse, Squads Labs also announced it secured million in a funding round led by venture capital firm Electric Capital.

The funding round also attracted the participation of major crypto venture firms, including Coinbase Ventures, Placeholder VC, L1 Digital and RockawayX.

Squads Labs also raised money from Mert Mumtaz, the co-founder and CEO of Helius, a Solana-based RPC platform.

The latest funding sees Squads Labs reach a total of .5 million across four rounds. It’s capital injection that Squads plans to plough into products like Fuse and a developer toolkit for SVM-compatible smart accounts.

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Theo Crypto News

DeFi

Gas abstraction layer Zyfi closes $2m private funding round

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ZkSync-based Zyfi received financial backing to bootstrap paymaster services across the Ethereum ecosystem.

Gas abstraction layer Zyfi raised million in a private funding round to bootstrap native account abstraction on zkSync and, by extension, the larger decentralized finance (defi) landscape. 

Although blockchain and crypto adoption has advanced in recent years, tools like self-custodial wallets such as MetaMask and executing on-chain transactions remain tricky to some. 

A major roadblock to defi activities is gas, the fee users pay to miners or validators for confirming transactions. Zyfi plans to deploy capital from investors toward solving this problem by simplifying gas options across protocols and solutions. 

Zyfi’s account abstraction thesis

The zkSync-powered layer allows users to pay gas in Ethereum (ETH) or any ERC-20 token, creating a generalized answer to the gas conundrum. Zyfi achieves this by leveraging native account abstraction.

Ethereum’s co-founder Vitalik Buterin has touted account abstraction as the next step for driving adoption and seamlessly onboarding more Web3 users. 

Standard wallet addresses, otherwise known as Externally Owned Accounts (EOAs), have limited functionality. As Buterin and other developers have explained, account abstraction removes this limitation, and enables EOAs to operate like smart contracts. 

The unlocked features mean users have greater flexibility and can do more with their wallets, like customizing gay payments, spending limits, and social recovery. 

According to a Dune Analytics dashboard, Zyfi has already deployed this technology for nearly one million transactions and for more than 110,000 users on zkSync. Zyfi founder Gauthier Vila said the investments will help ensure that “developers can concentrate on enhancing their products” for end-users. 

Firms like Everstake Capital, Tenzor Capital, Apvc.capital, Criterionvc, NxGen, Majinx Capital, v3ntures, and Momentum8, to name a few, participated in the private fundraiser.

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Theo Crypto News

Bitcoin

Bitcoin, Ethereum exchange balances at 4-year low 

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Bitcoin and Ethereum user balances have dropped to levels not seen since 2020.

Glassnode data revealed that user balances of Bitcoin (BTC) and Ether (ETH) on centralized exchanges reached a four-year low as investors held out for higher prices in a bull market. 

BTC balances dipped to below 2.3 million coins, valued at around 0 billion, while ETH balances have dropped below 16 million, amounting to less than billion.

Bitcoin and Ethereum exchange balance at 4-year low | Source: Glassnode

Why Bitcoin and Ethereum exchange levels dropped

The amount of BTC and ETH on exchanges has been in a downtrend since before July 2020, per Glassnode. Data confirmed that users continued to withdraw assets from these platforms following the pandemic, through the previous 2021 peak, during the 2022 Terra-FTX contagion, and even after spot BTC ETFs were approved. 

The four-year pattern suggests that crypto users have adopted a bullish long-term outlook, expressing confidence in the future appreciation of these assets regardless of market cycles. 

After the COVID-19 crisis in 2020, inflation also rocked world economies and incentivized investors to station capital in technologically sound vehicles. Bitcoin’s hard-capped supply and immutable design bolstered its status as an inflation hedge and sovereign nations like El Salvador have adopted the cryptocurrency as legal tender.

The bullish thesis is perhaps solidified even further as Wall Street behemoths like BlackRock and Fidelity drove institutional demand through spot BTC ETFs. Companies like MicroStrategy under BTC maxi Michael Saylor have also parked billions in the top digital asset. 

As the second-largest crypto and top altcoin asset, ETH commands its own bullish thesis as the leading substitute for BTC. The token powers the biggest decentralized finance (defi) ecosystem worth nearly billion per DefiLlama. 

In 2020, developers launched the Beacon chain, which kicked off the eventual transition from proof-of-work (PoW) to proof-of-stake (PoS). The move unlocked Ether staking, a process of locking up ETH for network security and passive yield. 

At press time, over 27% of Ethereum’s supply was staked. In other words, users have deposited over 9 billion worth of ETH in staking providers like Coinbase, Lido, and EigenLayer. 

The hype around spot ETH ETF approvals, defi growth, and staking surges has culminated in a positive outlook for the cryptocurrency and has further encouraged users to hold on for dear life, otherwise known in the crypto community as “hodl.”

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Theo Crypto News

Phân tích

Jasmy Price Prediction: bullish pattern forming

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JasmyCoin (JASMY) price has lost momentum in the past few days as focus shifts to the upcoming Federal Reserve interest rate decision. The token was trading at .039 on Monday, down from this month’s high of .045. It has been one of the hottest token this year as it jumped by over 720% from its lowest point in January.

Federal Reserve decision ahead

Jasmy’s strong rally stalled after the US published strong jobs numbers on Friday. According to the BLS, the economy created over 272k jobs in May, beating the consensus estimate of 183k.

While the unemployment rate rose to 4.0%, the country’s wage growth gained momentum, rising by 4%. These numbers came two weeks after the US released strong consumer confidence numbers.

They also came as the Federal Reserve prepared to deliver its June interest rate decision. Most analysts expect that the bank will leave interest rates unchanged between 5.25% and 5.50%. The dot plot will also point to a potential rate cut later this year.

Jasmy and other cryptocurrencies tend to be highly sensitive about interest rates. In most cases, digital currencies perform better when the Fed is either cutting rates or when it even hints of upcoming cuts.

Jasmy token has also stalled after Bitcoin found a strong barrier. Bitcoin struggled to find buyers above ,000 even as ETF inflows continued and as balances in exchanges tumbled to the lowest level in months.

Still, there are hopes that Bitcoin will stage a strong recovery since it has formed an inverse head and shoulders pattern. If this happens, other popular altcoins like Jasmy will rebound as well.

Finally, Jasmy price wavered as investors started to book profits. This is expected after an asset has staged a strong rally.

Jasmy price forecast

The daily chart reveals that the $JASMY token price has rebounded in the past few months. It recently crossed the crucial resistance level at .02756, its highest swing on March 4th. It has constantly remained above the 50-day and 25-day moving averages.

Further, the Awesome Oscillator has remained above the neutral point while the Relative Strength Index (RSI) has remained above the ascending trendline shown in red. The token is also forming a bullish flag pattern.

Therefore, the token’s outlook is bullish ahead of the Federal Reserve decision. If this happens more gains will be confirmed if Jasmy jumps above the year-to-date high of .045. This trend could see it jump to the next psychological point at .050.

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Theo Crypto News

Altcoin

Oasis Network Price Prediction as ROSE Transactions Jump

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Oasis Network (ROSE) price rallied on Monday, accompanied by an uptick in trading and transaction volumes. Its price surged to .12, marking its highest level since April 12th. At its peak on Monday, ROSE had climbed nearly 50% from its lowest point in May.

Trading and transaction volumes rising

Oasis Network’s transaction volume has jumped in the past few days. According to CoinGecko, the total volume traded on Monday rose to over million, higher than the million handled on Sunday.

Over the past five days, the average volume was over million, a substantial incraese from the previous five day average of million.

Additionally, data by the Oasis Scan revealed a robust network trend, with over 386,000 transactions processed on Sunday compared to 363,000 on May 26th.

These two data points explain why ROSE was one of the best-performing major cryptocurrency on Monday, even as Bitcoin remained stagnat around ,500 and the total market cap of all coins dropped by 0.23% to .5 trillion.

Oasis Network is one of the networks seeking to challenge Ethereum’s dominance among developers. Its primary advantage is that its network separates the consensus and compute layers to provide more scalability and customizability.

Oasis still has a long way to go to challenge the other dominant chains like Ethereum, Solana, and BNB Chain. Oasis Sapphire has a total value locked (TVL) of just .18 million while Oasis Emerald has .28 million.

Oasis Network price forecast

The daily chart shows that the ROSE token price has bounced back after bottoming at .0736 in April. It has jumped by almost 50% and moved above the first resistance of the Woodie pivot point.

The 25-day and 50-day Exponential Moving Averages (EMA) have formed a bullish crossover pattern, which is a popular sign. Meanwhile, oscillators like the Relative Strength Index (RSI) and the MACD have all pointed upwards, a sign of increased momentum.

Therefore, the path of the least resistance is higher, with the next point to watch being the third resistance point at .1388. This implies a 16% increase from the current level.

The next potential catalyst for the ROSE price will be the upcoming Federal Reserve decision set for Wednesday. A dovish decision, where the Fed leaves rates unchanged and points to rate cuts later this year, will lead to more Oasis Network upside.

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Theo Crypto News

Bitcoin

Bitfarms adopts ‘poison pill’ amid Riot Platforms’ takeover attempt

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Bitfarms has adopted a shareholder rights plan to protect its strategic review process from Riot Platforms’ takeover attempts.

Bitfarms, a Toronto-headquartered Bitcoin mining company, announced in a Jun. 10 press release that its board of directors unanimously approved the adoption of a shareholder rights plan to safeguard the integrity of its strategic alternatives review process.

The Rights Plan (commonly referred to as a “poison pill”) aims to protect the interests of Bitfarms’ shareholders by preventing any potential hostile takeover attempts. The move comes in response to recent actions by Riot Platforms, a Colorado-based Bitcoin mining company.

“The Rights Plan is being adopted to preserve the integrity of our previously announced strategic alternatives review process and is in the best interests of all Bitfarms’ shareholders.”

Bitfarms

Riot, which currently holds 47,830,440 common shares, representing 11.62% of Bitfarms’ shares, has recently made a proposal to acquire all of Bitfarms’ issued and outstanding common shares for 0 million and has announced its intention to requisition a special meeting of shareholders to circumvent the review process.

In response, Bitfarms’ special committee determined that Bitfarms’ offer “significantly undervalues the company and its growth prospects.” The Toronto-headquartered firm added that although the special committee welcomed Riot’s interest in the company, Riot declined to participate in the strategic alternatives review process.

“[…] [Riot] instead has continued to acquire common shares of the company in the open market, thereby acquiring an additional 8.01% of the company’s common shares since April 22, 2024, in an attempt to undermine the integrity of the process and thwart the interest of third parties.”

Bitfarms

The Rights Plan sets a threshold of 15% share accumulation before triggering, designed to prevent any immediate threat to the strategic review process. Starting Jun. 20, one right will be issued per common share, becoming exercisable if any person, along with certain related persons, acquires 15% or more of the outstanding common shares before Sep. 10, or 20% thereafter, without following the plan’s rules.

The Rights Plan needs to be ratified by shareholders within six months and must be approved by the Toronto Stock Exchange, which might also delay acceptance until the relevant securities commission is satisfied.

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Theo Crypto News

DeFi

Mantra (OM) hits all-time high amid strategic expansion in UAE

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OM, the native token of defi solutions platform Mantra, has risen as the top gainer among the leading 100 cryptocurrencies as it attained its all-time high of .0924.

At the time of writing, OM is still up 13% in the last 24 hours, exchanging hands at a price of .06. The token also experienced a 234% surge in its trading volume, bringing it to 8 million within the same timeframe.

OM 24-hour price chart | Source: CoinMarketCap

Moreover, the token’s market cap also surpassed 0 million, marking it as the 90th largest cryptocurrency at the time of reporting.

Mantra’s OM token serves two main purposes within the blockchain platform, which is focused on real-world assets:

OM holders can use their tokens to engage in various defi activities on the Mantra platform, including lending, borrowing, and earning rewards. Additionally, they have the right to vote on proposals that influence the platform’s future direction.

The latest OM surge comes after Mantra has signed a Memorandum of Understanding (MOU) with UAE-based bank Zand.

Under this agreement, both entities will work closely together to frame clear rules for RWA tokenization to ensure compliance with Dubai’s Virtual Asset Regulatory Authority (VARA).

The strategic initiative will promote the seamless tokenization of real-world assets in the UAE, hence improving the efficiency and transparency of asset management procedures.

Michael Chan, CEO of Zand, disclosed that the collaboration marks a crucial step in their journey to integrate blockchain technology with their robust financial offerings.

Through the integration, the bank aims to provide its clients with greater control over their investments, enhanced security, and clearer insights into the lifecycle of their transactions.

“We aim to simplify operations, reinforce trust and authenticity in the assets’ legality, and broaden access to the wider market,” added Chan.

Earlier in March, Mantra completed an m funding round led by Shorooq Partners. The round also saw participation from strategic investors such as Three Point Capital, Forte Securities, and Virtuzone.

The funds will be used to double down on Mantra’s efforts to promote large-scale RWA tokenization.

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Theo Crypto News