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Phân tích

Uniswap spikes nearly 10% amid bullish momentum

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Uniswap (UNI) has seen a notable price increase of over 9.8% in the past 24 hours, breaking above as it defied broader market conditions. 

This surge in UNI’s price has pushed its market cap to .74 billion, placing it at 17th among the largest cryptocurrencies by market cap.

According to data from CoinGecko, the current UNI price represents a 17.1% increase over the last seven days and a 63.6% jump across 30 days. 

Uniswap 24-hour price chart | Source: CoinGecko

While Bitcoin (BTC) only made marginal gains of about 0.7% in the last 24 hours and Ethereum (ETH) gained 4.5%, UNI’s 9.8% uptick represented the highest gains of any coin in that period.

Highest gainers in the last 24 hours | Source: CoinGecko

However, the coin’s 24-hour trading volume of 9.2 million placed it sixteenth among the most traded cryptocurrencies in the last day, just above Dogwifhat (WIF) and below Toncoin (TON), whose price is up 2.6%.

Significant accumulation spurs optimism

The recent price hike for UNI follows significant accumulation by a wallet linked to the Amber Group, which bought around million worth of Ethereum and Uniswap.

According to Lookonchain, the wallet withdrew 987,053 UNI, valued at .6 million, and 2,638 ETH worth an estimated .2 million from Binance within a three-hour window.

Some market analysts have suggested that such substantial acquisitions by major players could signal strong confidence in UNI’s future prospects.

However, they caution that while large buys can trigger short-term price increases, sustaining this momentum may be challenging amidst market volatility.

Recent developments and future prospects

This latest surge marks the second consecutive day of rising UNI prices. The initial uptick began on June 14 following a cryptic message from the decentralized exchange on social media, as can be seen below: 

The message was followed by hints that Uniswap v2 is preparing to support a new layer-2 blockchain after onboarding Optimism, Arbitrum, Polygon, Blast, and Base.

In addition to these market movements, Uniswap Labs is making headlines in the crypto community with its acquisition of Crypto: The Game (CTG), a popular online survival game.

Many feel the game could further boost Uniswap’s profile and attract more investors to the platform.

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Theo Crypto News

DeFi

Privacy expert slams WhatsApp and Telegram, touts decentralized messaging as future

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In an exclusive interview with crypto.news, Kee Jefferys, CTO of Session, discussed the inherent risks to privacy with centralized messaging platforms.

As our world becomes increasingly connected, privacy has transformed from a luxury into a necessity. Every click, every message, every digital interaction is a potential leak, spilling secrets into a sea of data ready to be harvested. 

Messaging apps, which are integral to our daily communication, are facing growing scrutiny over their privacy practices.

Yet, incidents like those involving WhatsApp and Telegram—where breaches and metadata mishaps have eroded trust—spotlight the fragile nature of privacy in traditional platforms. 

Such episodes constantly remind us of the vulnerabilities that users face daily, exposing them to potential profiling and surveillance, undermining trust.

Enter web3, a beacon of hope, promising a paradigm shift towards decentralization. This new technology framework seeks to dismantle the centralized powers that traditionally govern our data, proposing instead a system where privacy is inherent, not optional. 

Jefferys, through his work with Session, champions this vision, employing a network of community-run nodes to safeguard user interactions without the need for a central authority.

He believes that a decentralized approach is crucial for creating a new trust model. One that doesn’t rely on centralized entities but distributes responsibility across a network of independent operators.

With the recent security breaches and metadata collection issues in messaging apps like WhatsApp and Telegram, what are the risks currently plaguing users in the traditional messaging app sector, particularly in terms of privacy?

Traditional messaging apps like WhatsApp and Telegram are inherently centralized, creating honeypots of sensitive metadata, such as phone numbers, IP addresses, and profile images. This data can be linked with other metadata, like message timing and group membership, to create detailed profiles of users, their habits, and relationships. Although these services claim not to engage in such profiling, they possess the data and access to do so, and this data could be leaked or accessed by hackers or compelled by authorities. To enhance privacy, we need systems that minimize data collection and centralization.

Law enforcement agencies access user data from secure messaging apps through metadata and cloud backups. How would web3 address this? Do you expect a potential backlash from regulators as these solutions surface?

Cloud backups are a convenient feature usually facilitated by device manufacturers like iCloud for iOS and Google One/Drive for Android. Messaging app publishers can mitigate risks created by these cloud backup services by opting out of automatic backups and instead using custom-built decentralized storage networks like Arweave or Filecoin, which don’t implement regulatory backdoors for mandated access. Regulators and law enforcement typically focus on device seizures during investigations, which would reveal similar content to what could be obtained from cloud backups, so this shift may not cause significant regulatory issues.

How does the decentralized nature of web3 technologies specifically address the privacy and trust issues that traditional messaging apps struggle with? 

In the most fundamental way, decentralization creates a new trust model that shares the burden and responsibility of trust among thousands of parties instead of a single entity and creates a rules-based system to govern this new trust model. It eliminates centralized honeypots of user metadata and instead distributes user data, making it nearly impossible to gain a global view of the network. This means that instead of compromising a single entity, one would need to compromise thousands of individual operators to access user data.

What do you see as the future of secure messaging in the context of increasing government surveillance and cyber threats? 

Most efforts in the secure messaging space have focused on securing the contents of messages via more advanced end-to-end encryption schemes, often at the expense of user experience. I think in the next 10 years, the space as a whole will focus more on metadata protection as end-to-end encryption becomes a more solved problem and governments move to even wider-scale metadata collection. The name of the game will no longer be content, it will be context.

How can web3 and decentralized technologies overcome the existing flaws and shape a more secure future for messaging apps?

Web3 and decentralized technologies can overcome flaws by breaking the trust assumptions of centralized messengers and proving that usability does not need to be sacrificed for privacy or decentralization.

Session claims to offer a ‘trustless’ messaging environment. Could you explain how Session’s architecture addresses the specific privacy flaws found in traditional messaging apps, ensuring that user data remains private and secure without requiring users to place their trust in a central authority? 

Instead of relying on a centralized server, when a user sends a message on Session, they interact with a network of community-run nodes called the “Service Node network.” This network has over 2,000 nodes, which store and route the encrypted data of Session users. This architecture ensures that user data remains private since there’s no central location to collect user messages. Trust is maintained purely between the network and its users without any central authority or middleman to govern this process.

What mechanisms does Session use to protect user privacy?

There’s 4 main things Session does to protect user privacy; No phone number or personally identifiable information is required to sign up—just generate a Session ID and start messaging. All messages are end-to-end encrypted using an audited encryption protocol and open-source clients. Session uses onion routing to hide users’ IP addresses while using the service. A decentralized network is used for temporary storage, eliminating the need to trust a central service provider.

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Theo Crypto News

DeFi

UNI price climbs 9% as Uniswap explores new layer-2 integration

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UNI, the native token of decentralized exchange (DEX) Uniswap, has surged 9% to become the top gainer in the crypto market today.

At the time of writing, UNI has been trading at .69, which is up 8.5% over the past day. In the same timeframe, the crypto asset experienced a 31% drop in trading volume, suggesting existing holders might be holding onto their UNI tokens in expectation of a further price rise.

UNI 24-hour price chart | Source: CoinMarketCap

Meanwhile, Uniswap’s market cap had risen to .4 billion, bringing the token to the 18th largest crypto asset asset per data from CoinMarketCap.

The latest surge in price comes as the decentralized exchange shared a new enigmatic X post early on June 14 featuring the message: “Locked in. Ready for the Endgame.” The message was paired with an image of a man intently sitting forward in his chair, a meme used by gamers when things are getting serious.

A following attached post from June 1 subsequently suggested that Uniswap v2 is gearing up to add support for a new Layer-2 blockchain.

Although the specific L2 protocol was not disclosed, speculation among the crypto community on X leans towards ZKsync, a renowned trustless Layer 2 solution known for scalable, low-cost Ethereum transactions.

Meanwhile, multiple members of the community also expressed discontent regarding the potential deployment on ZKsync.

Another potential cause for the recent price surge in UNI could be the impressive growth in L2 volume processed through the Uniswap Protocol, as highlighted in a June 13 X post by Uniswap Labs.

It took 22 months to hit the 0 billion mark, 10 months to reach 0 billion, and just 3 months to surpass 0 billion,’ the Uniswap team noted, showing data from analytics platform Dune. The exponential growth outlines the growing utility and adoption of Uniswap’s services in the defi space.

Additionally, an X user with the pseudonym “Kyledoops” pointed out the rising popularity of Uniswap v2 pools on various L2 solutions like Optimism, Arbitrum, and Polygon.

These platforms are being favored for their promise of scalability, reduced transaction fees, and enhanced user experience, further contributing to the demand for Uniswap’s offerings.

While Ethereum continues to lead in defi, the integration of L2 networks with Uniswap is evidently propelling quicker and more economical transactions, positioning these networks as strong contenders in the evolving crypto space.

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Theo Crypto News

DeFi

Bitcoin lags behind stocks and bonds in Q2 2024

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Analysts have flagged that Bitcoin has failed to deliver in the second quarter of 2024, falling behind stocks and bonds in terms of performance.

According to Bloomberg, Bitcoin has underperformed compared to global equities, fixed income, and commodities this quarter. The flagship cryptocurrency has lost approximately 5% since the start of April through mid-June. 

After hitting a high of ,798 in March, attempts to rally back to the position have failed to materialize.

In the previous quarter, Bitcoin had soared 67% in the three months through March. Massively surpassing indexes of traditional assets.

One of the key reasons fuelling the move was the hype around the approval of US Bitcoin exchange-traded funds (ETFs). However, that enthusiasm seems to be fading, according to Noelle Acheson, author of the Crypto Is Macro Now newsletter.

Acheson believes the inflow of fresh funds into Bitcoin ETFs has slowed down. She attributed most of the recent inflows to existing Bitcoin holders, adding that “only new money will move the price.” 

Drawing in over billion to date, Bitcoin ETFs were one of the most coveted investment vehicles on Wall Street.

Strategists at JPMorgan Chase observed that there has been a rotation of funds from digital wallets on exchanges to the new ETF products. Keeping that in mind, they estimated this year’s net flow to crypto, including ETFs and other sources, at billion.

The estimation is a lot lower compared to the billion recorded in 2021 and billion in 2022.

With this, the strategists concluded that they remain “skeptical” about the pace of inflows continuing through the remainder of 2024.

Acheson further estimates that Bitcoin miners may have contributed to the cryptocurrency’s lackluster performance. 

Miners have been selling off their cryptocurrency holdings to stay afloat. With the April halving, there has been a considerable drop in profitability. The current halving slashed the block reward from 6.25 BTC to 3.125 BTC.

In May, crypto mining analytics firm Hashrate Index revealed that miners would face a “hefty upward difficulty adjustment,” in the coming months. Prior to that, research firm Kaiko had warned of impending selling pressure from miners.

“If miners were forced to sell even a fraction of their holdings over the coming month this would have a negative impact on markets,” the firm wrote back then.

Despite the slump in performance, some analysts remain bullish on Bitcoin. 

As reported by crypto.news, analyst CryptoCon has predicted a year-end price target of ,539 for the premiere crypto. Galaxy Digital’s Michael Novogratz speculates a similar range at 0,000.

Meanwhile, Ark Invest’s Cathie Wood has the most optimistic outlook, having pushed her long-term price target for Bitcoin higher to a whopping .8 million. 

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Theo Crypto News

Bitcoin

MicroStrategy to buy more Bitcoin after raising $500m

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MicroStrategy is looking to offer 0 million worth of convertible senior notes, with proceeds used to purchase additional Bitcoin (BTC), the company announced on Thursday. Notes mature in 2032.

On Thursday, MicroStrategy revealed plans to offer qualified institutional buyers the opportunity to purchase unsecured convertible senior notes that will be due in 2032.

Stating that the private offering would be subject to market conditions and other factors, the company said these notes will bear interest payable semi-annually and in arrears every June 15 and December 15.

This will run until maturity on June 15, 2032, unless the notes are repurchased, redeemed or converted as per the offering’s terms.

MicroStrategy, could, subject to conditions, redeem for cash, all or some of the notes.

“Holders of the notes will have the right to require MicroStrategy to repurchase for cash all or any portion of their notes on June 15, 2029,” the US-based firm noted.

MicroStrategy will use proceeds to buy more Bitcoin

According to today’s announcement, notes are convertible into cash, shares of the company’s class A common stock, or a combination of the two.

The reference price in the calculation of the initial conversion will be the composite volume weighted average of MicroStrategy’s stock from 9:30 am through 4:00 pm EDT on the date of the pricing.

If the sale happens, MicroStrategy will use the net proceeds to buy more Bitcoin to add to the 214,400 BTC the company held as of April 30, 2024.

The company will also use these funds for other corporate purposes.

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Theo Crypto News

Bitcoin

Research analyst at Fineqia discusses the impact of spot ETFs on Bitcoin’s market dynamics

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Crypto.news recently sat down with Matteo Greco from Fineqia International to discuss the current state of the Bitcoin ETF market and what we can expect looking ahead.

Bitcoin has emerged as one of the top-performing assets of the past decade. 

It has transcended beyond its status as a lesser-known peer-to-peer payment system, catalyzing the creation of an entirely new asset class that now boasts a market capitalization exceeding trillion.

With the approval of 11 spot Bitcoin ETFs in January 2024, traditional investors now have an easier route to gain exposure to the flagship cryptocurrency.

These investment vehicles are reshaping the crypto sector, having pulled in billions in market capital. Besides legitimizing Bitcoin, these have also drawn substantial interest from institutional players.

Another factor that might impact the Bitcoin ETF sector is the potential approval of spot ethereum ETFs. Analysts expect these to capture 20% of the investment flows currently heading towards spot Bitcoin ETFs, further adding to the intrigue.

With these developments in place, the market remains a dynamic and unpredictable arena. The future of Bitcoin ETFs, while promising, is being shaped by a myriad of factors, including regulatory developments and macroeconomic trends. 

How might these influence the market dynamics of these investment vehicles? How could these impact the price of Bitcoin?

According to Greco, the inflows into Bitcoin ETFs are significant but not the sole factor influencing Bitcoin’s price.

Why does the substantial influx of capital into Bitcoin ETFs not correspond with an equivalent rise in Bitcoin’s market price?

There are several factors that can drive the price up and down, including supply and demand, liquidity, and leverage. It’s not as simple as a single-factor correlation for price action. However, it is incorrect to say that the inflow did not sustain positive price action. When the BTC ETFs were approved on January 10th, the price of BTC was about ,000. Currently, BTC has been ranging between ,000 and ,000 for weeks, indicating a 40% – 50% price increase post-approval. At the time of the approval, BTC’s total market cap was about 0 billion, and now, with BTC at ,000, it is about .3 trillion. This represents a 0 billion increase in total market cap, while BTC ETFs saw around billion in net inflow. This means BTC’s market cap growth has been 25 times the amount of net inflow into the BTC Spot ETFs. This demonstrates that the impact of the approval and trading of these products has been substantial, extending beyond direct inflow into these financial products. It has helped sustain demand for the asset due to positive sentiment and mid-term expectations about Bitcoin and the digital assets space in general.

Could the potential approval of an Ethereum ETF significantly alter the investment landscape for Bitcoin ETFs?

Bitcoin (BTC) and Ethereum (ETH) are fundamentally different assets with distinct intrinsic characteristics. Bitcoin uses a Proof-of-Work consensus mechanism, which relies on miners, while Ethereum, like most digital assets, employs Proof-of-Stake, which does not require computational power to confirm transactions. This mechanism allows ETH and many other digital assets to offer staking rewards to investors, similar to dividends in traditional finance. BTC, however, does not have built-in staking rewards and, as a result, has different characteristics and cannot be classified as a security. Given the differing characteristics and use cases of these two major digital assets, I do not anticipate outflows from BTC ETFs moving into ETH ETFs. Instead, I expect net inflows for ETH ETFs as they represent a distinct asset that new investors, or those who have already invested in BTC ETFs, might also want to gain exposure to.

⁠What impact might the introduction of an Ethereum ETF have on Bitcoin’s status as the premiere cryptocurrency?

BTC was the most prominent cryptocurrency before the ETFs were approved and will remain so after both BTC and ETH ETFs are approved. If BTC ever loses its dominance, it will take considerable time for ETH to surpass BTC in market cap. It will be interesting to observe traditional finance’s appetite for ETH as an asset. For comparison, BTC attracted about billion in net inflows during Q1 and Q2, assuming quite neutral flows for the remaining three weeks of Q2 for a matter of simplicity. ETH’s market cap is about one-third of BTC’s, so proportionally, it should attract around billion in the six months post-launch to match BTC’s level. Higher inflows would indicate more enthusiasm for ETH, and lower inflows would suggest the opposite. While it’s challenging to make direct comparisons due to differing market sentiments at the time of launch, this serves as a useful index for mid-term analysis.

Are traditional asset ETFs, such as those for gold, influencing the market dynamics of Bitcoin?

I would look at it from the opposite perspective. Traditional asset ETFs have been trading for a long time, and the introduction of digital asset ETFs into the market represents increased competition. For instance, the impact of BTC ETFs has been significantly stronger compared to the introduction of the first gold ETF in 2004. This indicates that investors have a definite appetite for digital assets, meaning that a portion of the allocation previously reserved exclusively for traditional financial assets is now being directed towards digital asset ETFs.

Regarding the influence of the BTC Spot ETFs in the market, these products undoubtedly bolster the global recognition of BTC. With some of the most significant traditional finance businesses issuing and/or holding BTC, this leads to increased liquidity, enhanced safety, and reduced spreads and commissions for investors and traders.

With the launch of ETFs has Bitcoin generated sufficient institutional and retail interest to sustain its proposed role as an inflation hedge?

I would not limit BTC to being classified solely as an inflation hedge. While BTC can serve as an inflation hedge over long time frames, it is not a safe hedge in the short term due to its high volatility. BTC has attracted strong institutional and retail interest for a variety of use cases, which highlights its versatility. Being entirely decentralized, without a CEO or board, investors can purchase and trade BTC based on their preferred use case. Some people buy and hold BTC as a long-term investment or inflation hedge. In countries with hyperinflation, people might use BTC as a short-term inflation hedge. Others see it as a speculative investment, while some appreciate its decentralized nature and the idea of a currency not issued by central governments. It’s incorrect to pigeonhole BTC into a single category. Bitcoin is an asset that can be used for various purposes depending on individual circumstances and preferences, and its overall adoption is increasing worldwide.

Would you classify Bitcoin as a traditional investment hedge like gold?

At the current stage, I would classify BTC more as an investment, similar to stocks, due to its high volatility rather than an inflation hedge like gold or bonds during periods of high interest rates. In my view, an inflation hedge should primarily offer high stability and serve as an alternative to fiat money—something stable and liquid that can be easily used to pay for services and quickly converted to cash in an emergency. BTC falls short in this regard because its value can vary dramatically depending on market conditions, which means converting BTC to fiat could result in significant losses if done at an unfavorable time.

What does this mean for Bitcoin?

While BTC can serve as a long-term inflation hedge and a means to increase purchasing power, it cannot be defined as an inflation hedge by default. For instance, during the past bear market, BTC experienced its biggest drawdowns coinciding with peaks in inflation and interest rate hikes. Conversely, BTC began performing well again when central banks stopped raising interest rates as inflation decreased. If BTC were a short-term inflation hedge, it would have behaved oppositely, rising during high inflation and macroeconomic uncertainty and slowing down when inflation decreased and interest rates stabilized. This pattern indicates that BTC is currently traded more as a risk-on asset, similar to stocks, rather than a short-term inflation hedge. As mentioned earlier, BTC’s decentralized nature means investors can define its function in the market. Presently, the majority of investors perceive BTC as a risk-on asset and trade it accordingly.

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Theo Crypto News

DeFi

South Korean retail giants withdraw from NFT sector amid market slowdown

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Several South Korean retail giants, including Lotte and Hyundai, are exiting the non-fungible token (NFT) sector, marking a significant shift in their digital strategy.

The companies’ move follows a notable slowdown in the NFT market, prompting them to refocus their plans on their core business competencies.

According to a local South Korean news outlet, Lotte Home Shopping, the e-commerce arm of retail giant Lotte, announced it would end operations for its NFT shop platform.

Lotte launched its NFT services over the platform in May 2022. However, after just two years, the firm revealed on June 12 that it would shutter the NFT shop operations on July 2.

The platform, integrated into the Lotte Home Shopping mobile app, was initially part of the company’s strategy to develop a metaverse platform.

Lotte’s NFT Shop was distinct in its approach by using fiat KRW as the transaction currency to facilitate access for non-crypto users.

The company had expanded its NFT offerings by launching lines featuring its corporate character Bellygom and collaborating on projects with its virtual influencer Lucy and the hit 2022 horror movie “The Witch: Part 2. The Other One.”

Plans were also underway to enable secondary NFT sales on Opensea, the world’s largest NFT trading platform.

However, the recent closure signifies Lotte Home Shopping’s complete withdrawal from the NFT sector.

All remaining NFT business interests, including the Bellygom NFT, will be transferred to Daehong Communications, a crypto startup owned by the Lotte Group.

Hyundai Department Store is another major retailer that is stepping back from the NFT space. Launched in the same year as Lotte’s platform, Hyundai’s NFT wallet services offered customers various incentives such as discounts and free gifts. These services are now being discontinued as the company opts to exit the market.

Additionally, Shinsegae, another key player in the South Korean retail sector, has significantly reduced its NFT offerings. An industry insider revealed that many retailers had eagerly entered the NFT business but are now scaling down their operations as the market’s momentum wanes.

“Instead, they are focusing on strengthening the competitiveness of their core business areas,” the insider added.

Meanwhile, the latest trend of retail giants exiting NFT markets follows on the heels of South Korea’s shifting stance regarding NFTs.

Notably, the country’s top financial regulator is seeking to classify certain NFTs as virtual assets.

The move mandates that businesses issuing NFTs classified as virtual assets report them to the South Korean government body.

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Theo Crypto News

DeFi

Notcoin surges 16% with new Binance trading pair listing

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Notcoin, the Telegram-based clicker game, surged 16% following a new trading pair listing for NOT, its native token, on the world’s largest crypto exchange, Binance.

At the time of writing, the token is up 10%, trading at .018, according to CoinMarketCap. The crypto asset is among today’s top gainers, while its market cap rose to .84 billion.

NOT 24-hour price chart | Source: CoinMarketCap

NOT has also experienced a 65% surge in its 24-hour trading volume, reaching .26 billion. However, the token is trading 37% lower than its all-time high of .0289, reached on June 2.

Notcoin’s recent surge comes as Binance has announced the expansion of its trading options for the NOT token with a new NOT to Brazil Real (NOT/BRL) trading pair, thereby opening doors for Brazilian traders. Users can start trading in the pair starting today at 14:00 UTC.

Notcoin’s journey began in early 2024 with a unique social clicker game hosted on Telegram. In the game, players accumulate in-game Notcoin currency by tapping a virtual golden coin.

The NOT token, which lies at the heart of Notcoin’s ecosystem, aims to be a community-centric cryptocurrency that encourages user participation in different project activities.

Participants can discover and engage with new web3 products and services, earning NOT tokens in the process. They can also take part in various games available on the Notcoin platform to gain additional rewards in NOT.

The amount of NOT tokens users can earn correlates with their in-game level; higher levels unlock access to greater reward pools.

Players can enhance their level by staking Notcoin, with their monthly staking amount determining their rank.

The Platinum level, the highest achievable, offers the greatest number of NOT tokens as rewards.

In May, Notcoin conducted its token generation event (TGE), introducing the NOT token on several leading cryptocurrency exchanges like OKX and Binance. The launch swiftly propelled Notcoin into the top 100 cryptocurrencies by market cap.

Recently, Notcoin donated over 1 billion NOT tokens, valued at .8 million, to Telegram and its founder, Pavel Durov. Durov has pledged to hold these tokens until they reach a market value of 0 million and plans to use the funds to expand Telegram’s server capacity.

Notcoin’s new surge comes as the global cryptocurrency market is once again in the green with a market cap that stands at .46 trillion.

Meanwhile, Bitcoin has also seen a slight increase in the last 24 hours, now hovering around ,614.

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Theo Crypto News

Bitcoin

Vitalik Buterin offers principles of daily crypto life

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Ethereum co-founder Vitalik Buterin shared his insights on the fundamental principles that shape the daily lives of cryptocurrency users. 

His remarks came in response to an X thread by crypto project designer OxDesigner, who questioned the long-term value of meme coins within the crypto ecosystem.

OxDesigner expressed concern over the persistent popularity of meme coins. He argued that previous market cycles have significantly expanded the functionality and reach of cryptocurrencies. 

These cycles have brought decentralized currency, programmable money, peer-to-peer (P2P) international payments, and unrestricted financial services. However, he questioned how meme coins contribute to improving daily life and felt their impact was more entertainment-focused than enduring.

Buterin outlines crypto’s areas of impact

In response, Buterin highlighted several key areas where crypto is making a difference in daily life. He emphasized the potential of zero-knowledge (zk) reputation systems, identity verification, and credential management. These projects can improve privacy and security with the management of personal information.

He also noted improvements in P2P cross-border payments. Lower fees and better user experiences are making these transactions more accessible and practical for everyday use. In May, MasterCard debuted a product in this area.

Buterin further pointed to the growing relevance of decentralized social platforms, which offer new ways for communities to interact and share information without relying on centralized authorities. One entity in this niche is Farcaster, which Buterin has previously praised.

Prediction markets were another area of focus for the Ethereum founder. He highlighted their increasing usability, as they facilitate more accurate forecasting. Moreover, privacy enhancements were also called to attention. 

Buterin mentioned enterprise applications through the scaling protocol Validium. Finally, he discussed zk-based censorship-resistant voting systems, which can ensure the integrity and anonymity of votes.

Essentially, while meme coins might draw attention for their entertainment value, the core principles and applications of crypto are driving significant advancements in how people interact, transact, and secure their information. Buterin had also previously advocated for meme coins to have higher quality.

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Theo Crypto News