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  • Market Cap Increases to $2.3T as Bitcoin Rallies to Cycle High and Becomes Trillion-Dollar Asset Again

    Market Cap Increases to $2.3T as Bitcoin Rallies to Cycle High and Becomes Trillion-Dollar Asset Again

    Key takeaways:

    • Bitcoin reached a cycle high of $55,556 on Wednesday, before retracing to $54,200 by press time
    • The latest BTC rally pulled the market cap above $2.3T mark and made BTC a trillion-dollar asset
    • October has brought considerable bullish momentum

    Bitcoin continues its stellar performance that started at the beginning of October and has managed to break into the $55,000 price territory for the first time since May. Yesterday’s peak value of $55,556 marks a cycle high and the highest Bitcoin value in the last 21 weeks.

    Bitcoin grows by 25% since the start of the month

    On October 1, BTC was still trading at $43,800. What followed was absolutely explosive price action, which saw BTC reach a cycle high and gain more than 25% in the span of 7 days.

    After a prolonged period of up and down price action, BTC has broken through the $50K level with ease.

    On Tuesday, Bitcoin managed to break $50K, however, the price has stayed relatively stable for the next 24 hours, with many people in the community wondering where it will go from here. The answer came in the early hours of Wednesday, when the world’s largest crypto went on a tear and went from $50,400 to $54,700 in the span of three hours. BTC managed to reach over $55,500, before it dipped to $54,200 at the time of this writing.

    Buy/Sell BTC

    The total market cap is rapidly approaching new ATH

    Amidst the latest rally Bitcoin surpassed $1 trillion market capitalization and increased its dominance rate to 44%. 

    As Bitcoin accounts for by far the largest share of the cumulative value of crypto assets, it comes as no surprise that the overall market cap increased drastically on the heels of BTC’s latest rally.

    The current market cap value of $2.33T is less than 10% away from the market’s ATH.

    In the last 24 hours, the market recorded a 5.43% gain, good for a $2.33T valuation. Looking at a 7-day chart, we can see that the market has grown by more than $400B. If the market grows by just half as much as it did over the last week, we will see the highest crypto market valuation in history.

    When looking at the chart of the top 100 largest coins by market cap, 93 out of 100 projects are trading the green zone over the last week. Several coins managed to renew their respective ATHs in the last week due to fundamental reasons combined with overall positive market sentiment.

  • prePO Will Provide Retail Investors With Exposure to Pre-Public Assets

    prePO Will Provide Retail Investors With Exposure to Pre-Public Assets

    Many retail investors are trying to chase the high returns that are achievable when buying assets via a public sale, whether it is in the form of a crypto-based initial coin offering (ICO) or during an initial public offering (IPO) on a stock exchange. While acquiring assets as soon as they are publicly available usually proves to be a great buying opportunity, average ICO and IPO returns on investment pale in comparison to yields generated in private markets.

    Retail investors have had no convenient options of accessing private equity until now – enter prePO

    To get a sense of just how much disparity there is between private and public markets, we’ll use Facebook as an example. The social media giant opened its public trading in 2012 with a share price of $38. In nearly a decade post its IPO, Facebook’s stock has increased by 825% (at current market rates). A great return by any means.

    However, more than an 8-fold increase in value is virtually nothing compared to the staggering 10,000x price growth the company has experienced between its Series A funding round leading up to its eventual IPO, according to data provided by EquityZen. Other tech giants, such as Twitter, Google, and Spotify have also experienced a vast percentage of their growth during the pre-public phase.

    The discrepancy between returns achievable in the public and private markets is staggering. Image source: EquityZen

    ​​​​The unfortunate reality is that getting an equity allocation during private investment rounds is virtually impossible for regular investors. The access is mostly restricted to venture capitalists, family offices, and accredited wealthy investors. Enter prePO.

    prePO is a decentralized trading platform that aims to democratize access to pre-public trading action, whether it is a pre-IPO company, or a pre-token blockchain project.

    How does prePO work?

    prePO (short for ‘pre-IPO’) leverages the capabilities of Ethereum Layer 2 scaling solutions to achieve high transaction speeds with low costs, while retaining a high level of security. prePO synthetic markets allow everyone to make a prediction on the expected initial public value of a specific company or a crypto project. 

    prePO protocol allows users to enter so-called ‘long’ or ‘short’ positions on pre-public companies, including SpaceX, Gemini, OpenSea, and many more.

    Users can participate in numerous synthetic markets. Image source: prePO

    As mentioned before, users can decide to take the trading route, and set parameters on their long or short orders, or take the less volatile approach of providing liquidity to synthetic markets. Liquidity providers (LPs) are compensated for their services with different types of rewards, ranging from collateral farming benefits to PPO token incentives. As all prePO synthetic assets are based on the ERC-20 standard, new features, such as multi-layered staking rewards and loan collateral, can be easily added.

    The soon-to-be-released PPO token (prePO’s native governance token) will allow its holders to participate in the platform’s governance system. One of the most exciting features introduced by the token is the PPO holders’ ability to vote on which new private company or a blockchain project should be added to the list of available prePO markets.

    Interactive prePO Simulator allows you to explore the platform’s capabilities

    If you are interested in what prePO is building, you can check out the prePO Simulator, which lets you familiarize yourself with the platform’s capabilities, and find out the differences between various synthetic markets.

    Going ‘long’ on SpaceX with a $1,000 investment using the prePO simulator. Image source: prePO

    The free simulation tool is meant to give an overview of prePO functionality, such as finding out how the rewards and trading position properties are calculated depending on the selected ‘Trader’ or ‘LP’ options, and how they vary as parameters are changed.

    prePO has set out to achieve ambitious goals in the next couple of months. By the end of this year, the company is planning to release a working demo version of its products and services, launch the governance system as well as a testnet beta, and launch the PPO token.

  • U.S. Bank Starts Offering Cryptocurrency Custody Service to its Clients

    U.S. Bank Starts Offering Cryptocurrency Custody Service to its Clients

    Key takeaways:

    • One of the largest financial institutions in the United States, U.S. Bank has launched a cryptocurrency custodial service for its corporate clients
    • The newly launched service supports Bitcoin, Bitcoin Cash and Litecoin, with support for Ethereum and other tokens coming in the future
    • Over the course of the year, institutional adoption has grown immensely

    One of the biggest financial institutions in the United States, U.S. Bank has started offering cryptocurrency custody services for Bitcoin, Bitcoin Cash, and Litecoin. U.S. Bank joins the likes of JPMorgan and Wells Fargo, which have recently expanded their repertoire of products and services to include crypto offerings.

    Support for Ethereum and other coins is in the pipeline

    U.S. Bank has first announced its plans to help institutional investors storing private keys to their crypto assets back in April. The newly launched service came to fruition in large part due to the collaboration between the bank and a sub-custodian New York Digital Investment Group (NYDIG), which specializes in providing expertise in building sophisticated asset management products. The bank shared the news on Twitter.

    When talking to CNBC, vice-chair of the bank’s wealth management and investment services division, Gunjan Kedia, stated that the fifth-largest bank is working on providing support for Ethereum and other digital assets in the future.

    A growing interest in crypto from the bank’s corporate clientele has been the main reason for the release of the new product. Kedia explains:

    “Our clients are getting very serious about the potential of cryptocurrency as a diversified asset class. I don’t believe there’s a single asset manager that isn’t thinking about it right now.”

    2021 will be remembered as the pivotal year for institutional adoption

    Over the course of this year, numerous institutions have started to fully embrace blockchain technology and made long-term commitments to the industry. El Salvador adopting Bitcoin as legal tender was certainly the headline of the year in this regard, however, countries like Brazil and Ukraine have also made considerable progress towards integrating crypto into their economies.

    The trend is especially clear when looking at the recent report from Chainalysis, which provides insights into the rapidly changing cryptocurrency landscape. Since June ‘20, Europe has grown to become the largest crypto economy in the world, with $1 trillion worth of transactions. The growth has been mostly driven by increased institutional adoption, since institutional-sized crypto transactions now account for roughly 70% of all transactional volume on the Old Continent.

    Payment processing giants have also deepened their ties to the crypto ecosystem. PayPal has started integrating crypto services in October of last year, and has decided to expand its offering to residents outside of US this year, with the launch of crypto services to UK-based customers. Mastercard has committed to start supporting digital assets directly on its network and bought cybersecurity startup CipherTrace to increase the payment platform’s security and prevent fraudulent cryptocurrency activity. At the same time, Visa is working on making its network interoperable between various blockchains, to facilitate payments between tokens issued on different blockchains.

    As of August 26, institutional investors have had 1.47M Bitcoin in possession, worth roughly $80 billion at current market rates.

    Buy/Sell BTC
  • These 3 Cryptocurrencies Have Renewed Their All-Time Highs in the Last Week

    These 3 Cryptocurrencies Have Renewed Their All-Time Highs in the Last Week

    Key takeaways:

    • With the crypto market growing by roughly $400 billion since the end of September, several tokens have reached new heights
    • DYDX, AXS, and LUNA have performed incredibly well and reached their respective ATHs during the last seven days

    With Bitcoin reaching $50,000 once again and the overall market sentiment turning bullish, we are taking a look at crypto-assets that have managed to surpass their previous peak valuations and reach new heights.

    dYdX enjoys the momentum shifting to decentralized exchange after China’s crypto ban

    Centralized cryptocurrency exchanges, such as Huobi, KuCoin, OKEx have been forced to leave the Mainland China market following Beijing’s blanket ban on crypto. While tokens of several centralized trading platforms have been facing increased selling pressure, their decentralized finance (DeFi) counterparts have been surging.

    Despite dYdX’s governance token being less than a month old, it already belongs to the group of 100 largest coins by market cap.

    One of the biggest benefactors of the newly established trend has been the dYdX decentralized exchange, both in terms of increased trading volume and the overall performance of its digital token. The DEX’s native token DYDX has seen immense growth since its launch on September 10. In a little less than a month-long period, the DeFi token has managed to almost double in value, and reached an ATH of $27.7 on September 30, before retracing to $21.3 at the time of this writing.

    We’ve covered the trend of Chinese traders flocking to DEXes in detail in our latest edition of the Coins to Watch weekly series, which you can find here.

    Buy/Sell DYDX

    Axie Infinity has announced a native decentralized exchange, AXS surges

    The massively popular blockchain gaming company, Axie Infinity has recently announced its plans to launch a DEX and thus expand the functionality of its platform. The company’s growth lead has explained that allowing trading of Axie Infinity’s native assets on the platform is a necessary step to take towards providing a seamless user experience.

    AXS is the single best performing asset of the year, having grown more than 200x YTD.

    Investors have welcomed the announcement with excitement as the price of AXS more than doubled in the span of three days. While the token was trading in the $70 range pre-announcement, it has managed to reach a new ATH of $154 by October 4. According to recent reports, the developing firm behind the hugely successful gaming company Sky Mavis, is valued at $3 billion. 

    Axie Infinity has been the best performing crypto asset of this year, enjoying a 21,000% price increase. Currently, AXS has a market valuation of $7.49 billion, which is good for 38th place on the list of largest cryptocurrencies.

    Buy/Sell AXS

    LUNA rallied after the Columbus-5 upgrade went live on September 30

    Terra is an e-commerce payment platform that combines the functionality of stablecoins and its native LUNA tokens in order to provide the stability needed to conduct international transactions. The long-awaited upgrade to the network, named Columbus-5, went online on September 30 and brought token burning mechanics and cross-chain support.

    Terra seems poised to rival ApplePay, SamsungPay and other established payment solutions in the coming years.

    Since the mainnet deployment of the new update, the price of the platform’s native LUNA tokens increased from 33$ to an ATH of 49$ on October 4. Since then, the token’s value has dipped a bit, and is now trading at $41. 

    Similar to AXS, LUNA has been immensely successful this year. A 6,300% price increase since the beginning of 2021 is enough to place Terra 8th on the list of best-performing assets of this year.

    Buy/Sell LUNA
  • Brazil Sets the Stage for Legalizing Bitcoin Payments

    Brazil Sets the Stage for Legalizing Bitcoin Payments

    Brazil is the latest on the growing list of countries that are hastily drafting new legislation that would regulate the cryptocurrency industry and allow its citizens to reap the benefits of blockchain-based currencies.

    Key takeaways:

    • When talking with local media on Tuesday, Brazil’s federal deputy Aurreo Ribeiro stated that there is a good chance that Bitcoin could be legalized and thus approved as a legal payment method in the near future. 
    • If the new cryptocurrency law, titled Bill 2.303/15 receives the necessary support from the Chamber of Deputies, Brazilians could soon be able to “buy a house, a car, go to McDonald’s to buy a hamburger,” according to Ribeiro.
    • If passed, the bill would set the legal foundations for the creation of a special government agency that would oversee Bitcoin transactions and have a final say about where and how BTC can be used.
    • Ribeiro also added that the country’s Central Bank and Securities and Exchange Commission of Brazil (CVM) have already begun analyzing the possibilities of BTC being used as the nationwide payment method.
    • Over the course of the year, Bitcoin has piqued the interest of many countries across the world. Most notable was El Salvador’s adoption of BTC as legal tender on September 7.
    • Ukraine has recently approved crypto-friendly legislation, which the Eastern European country hopes will boost its economic prospects and attract foreign blockchain businesses to set up shop within the nation’s borders.
    • Yesterday, BTC managed to break the $50,000 level after a month of turbulent market action. At the moment, the world’s largest crypto accounts for a 43% share of the $2.2 trillion crypto market.
    Buy/Sell BTC
  • Next-Gen Stablecoin META 1 CEX Listings Go Live

    Next-Gen Stablecoin META 1 CEX Listings Go Live

    Boca Raton, Florida, 5th October, 2021, Chainwire

    META1, a multi-asset-backed, self appreciating stablecoin, is scheduled for listing on multiple CEXs (centralized exchanges) in the coming weeks. According to the platform’s developers, META 1 Coin will begin trading on international exchanges over the next 60 days. The exact exchanges the token is to be listed on, and the days each exchange will list the coin is still a tightly held company secret, but developers have stated the campaign began on October 1, 2021.

    The META 1 Coin listing is be accompanied by the opening of withdrawal gateways for users. As part of this strategy, the developers have also started the integration of enterprise-grade security protocols. Notably, META 1 partnered with the blockchain security firm, Torus, to provide passwordless log-in solutions to the network.  

    The project also joined forces with VoiceIt to integrate 2FA Biometric authentication. This mechanism works in tandem with the platforms DEX and wallet to protect crypto holdings. Uniquely, the feature could help META 1 enforce its proprietary “humans-only” policy. This protocol bans investment firms, corporations, and governments from owning META 1 Coins. The goal of the system is to prevent centralization, whale dumps, and network corruption.  

    A LaunchPad

    The development team behind META 1 Coin spoke on the important milestones the network is prepared to achieve .META 1 Coin’s Founder, Robert P. Dunlap stated “We are excited to bring META 1 to the world and provide a launching pad for a world of freedom and abundance.”  

    META 1 Coin – A Multi-Layered DeFi Ecosystem

    The META 1 Coin operates as the base layer of a multifaceted DeFi ecosystem that includes a high-performance DEX (decentralized exchange), savings accounts, DeFi staking features, and a crypto VISA debit card. This combination of advanced features empowers investors through wealth generation. It also creates a streamlined way for crypto investors to spend their holdings.

    Dunlap explained the motivation behind the project in a recent interview. He described the platform as a way for regular users to drive abundance, grow equity, and promote the freedom of humanity. As part of his strategy, he envisioned a complete DeFi ecosystem built using a next-gen stablecoin.  

    Unlike previous gold-backed tokens, META 1 derives value from a basket of gold-related assets. The token also integrates a smart contract that limits sales to token value or higher. This strategy provides more stability to the META1 Coin’s value by eliminating the threat of pump-and-dump schemes.  

    METANOMICS

    METANOMICs is about fighting corruption and sharing wealth with all users. The DeFi attributes of the network, such as the high yield savings accounts, eliminate the need for third parties, like central bankers. By eliminating these costly gatekeepers from the equation, users secure higher rewards. For example, META 1 Coin savings account users earn 10% APY versus your local bank’s 0.25% rate.

    At the core of the METANOMMICs universe is a purpose-built fourth-gen blockchain. The META blockchain sets the foundation for the network’s other top features. It’s more transparent, scalable, and secure than its predecessors.  

    Developers can build on the network’s open-source code and peer-to-peer architecture to create robust and immersive Dapps. It also provides the DEX with transaction throughput on par with the NASDAQ exchange. The META DEX provides users with a secure and streamlined way to trade top cryptocurrencies.  

    This non-custodial DEX enables users to trade tokens from the safety of their wallets. This system eliminates network outage concerns, update delays, and other issues currently plaguing CEX users. It also provides vital liquidity to the METANOMICs universe.

    About META 1 Coin

    META 1 Coin is a private company located outside centralized regulatory jurisdiction. The platform provides access to DeFi features in an anonymous manner. Those interested in learning more about META 1 Coin can find this unique digital asset on the private META Exchange. For more information on the project click here .

    Contacts

    Founder and Excutive Trustee

    • Robert P Dunlap
    • META 1 Coin
    • press@meta1.io
    • 929-494-0976
  • Bitcoin Breaks $50,000 Again, Shiba Inu Gains 50%

    Bitcoin Breaks $50,000 Again, Shiba Inu Gains 50%

    Key takeaways:

    • The cryptocurrency market cap has increased by 3.36% in the last 24 hours and currently sits at $2.21T
    • After a rollercoaster-type price action over the last month, Bitcoin is again trading above $50,000
    • SHIB and DOGE memecoins are among today’s biggest gainers thanks to Elon Musk’s recent tweet

    Over the course of the last seven days, the cryptocurrency market has been experiencing strong bullish momentum, with most coins posting double-digit gains. The cumulative value of assets in the market has grown by over $300 billion in the 7D period. A large share of the growth can be attributed to the stellar performance of Bitcoin, which has gained almost 20%.

    After a turbulent month, Bitcoin is back above the $50,000 psychological barrier

    After roughly a month, Bitcoin has managed to climb above the $50,000 mark. While the world’s largest crypto was still trading at $47,000 in the early hours of Tuesday, the subsequent rally has pushed the crypto towards the peak value in the last 30 days.

    Bitcoin has peaked at $50,290 during today’s trading action.

    Given all that has happened over the course of the last month, Bitcoin’s latest rally can undoubtedly be considered an impressive feat and shows just how resilient BTC is. 

    To recap, on September 7, Bitcoin dropped to $43K as a cascading effect of liquidations saw 90% of longs worth $3.54B liquidated in the span of a few hours. The market managed to recover much of its losses in the following days, however, the fake news of Litecoin partnering with Walmart on September 14 provided another shock to the market.

    Every time that Bitcoin managed to pull off a rebound during the last month, a new crisis pushed the price back down.

    On September 20, the market lost 9% and fell below $2 trillion as crypto got caught up in the selloff of Evergrande, a Chinese real estate giant. Again, the market managed to bounce back and recover much of its losses very quickly, however, it wasn’t for long. Just four days later, China announced a blanket ban on crypto, which pushed crypto prices towards a multi-week low and saw BTC price tumbling to $41,000. 

    Luckily, the month of October started off on a bullish note. The total crypto market cap again surpassed $2 trillion and Bitcoin rallied above $47,000. Since then, the bulls haven’t let up, and by today, Bitcoin is exchanging hands at $50K per coin.

    A prominent Dutch financial investor with 25 years worth of experience in financial markets, which goes by the name of PlanB on Twitter, believes BTC could reach as high as $135K by the end of the year. The anonymous social media influencer, with nearly a million-strong Twitter following, correctly predicted the closing price of BTC in August as well as in September using a private stock-to-flow model.

    Buy/Sell BTC

    Shiba Inu leads the list of today’s biggest gainers

    Shiba Inu coin rallied to a 4-month high in the last 24, after Tesla CEO Elon Musk’s tweeted a picture of his new puppy in a Tesla car. The price of the Dogecoin spinoff increased by 67% and has grown to become the 48th largest coin, thanks to a $6.95 billion market valuation.

    Shiba Inu more than doubled in value in the last 24 hours.

    Dogecoin, the original memecoin, has also recorded a considerable increase, having gained 11% in the last 24 hours, which is good for 4th place on the list of today’s biggest gainers. DOGE is now up more than 5,000% since the start of the year.

    Buy/Sell SHIB
  • Top 3 Coins to Watch – Week 40

    Top 3 Coins to Watch – Week 40

    Last week was marked by the China FUD – the fear, uncertainty and doubt that spread among crypto investors following the further crackdown on cryptocurrency transactions and trading by China’s central bank. While the total cryptocurrency market capitalization dropped by almost 5% to reach a low of $1.82 trillion in the day following the release of the news, cryptocurrencies and the blockchain technology once again proved that they cannot simply be banned. Although week 39 started with red numbers, at the end of the week the total market capitalization has already climbed to $2.18 trillion. It seems that China’s restrictive measures only led to further decentralization of the space as Chinese investors and traders simply switched to decentralized trading platforms that are not operated by centralized entities and do not implement know-your-customer (KYC) checks. It is therefore not surprising that this week’s selection consists of 3 DeFi protocols. 

    3. Rocket Pool (RPL)

    Rocket Pool is a fully decentralized Ethereum 2.0 staking protocol that allows holders with less than 32 ETH to participate in the staking process. Rocket Pool users can stake as little as 0.01 ETH. For dedicating their holdings to the staking pool, they receive rETH, which is a tokenised staking deposit token. rETH can be held or traded from the moment of ETH deposit and it will still generate staking rewards, which are also paid out in rETH. It is also possible to offer staking node services to the pool. Users who run their own full node and stake 16 ETH can benefit from higher rewards, but will have to deal with node set-up, monitoring, and maintenance. RPL serves as the governance token for the Protocol DAO. Nevertheless, it is also used for incentives and to insure the value behind rETH in case of penalties or slashing events.

    Buy/Sell RPL

    Rocket Pool to Release its Mainnet on October 6

    The Rocket Pool team recently announced that the Rocket Pool mainnet will see the light of day on October 6, 2021 00:00 UTC. After many beta releases over the last few years and multiple protocol audits, Rocket Pool will soon claim the title of the first ever decentralised staking protocol for Ethereum 2.0. The team noted that the staking site will be available at https://stake.rocketpool.net/, but beware – Rocket Pool’s mainnet launch will take place in 4 4 short to medium length stages. At each stage there will be a limited number minipools and the size of the rETH deposit pool. Once the rETH deposit pool has reached its limit, stakers will not be able to swap ETH for rETH. The same goes for the number of minipools – once the limit is reached, node operators will not be able to join the pool. The limits will be increased as the protocol will progress to the next launch stage. The purpose of the staged launch is to ensure everything is functioning properly before increasing the total value locked in the protocol. RPL has recently seen a small 7% correction and is currently trading at around $33. Nevertheless, RPL is up by more than 1400% YTD, which can be attributed to the popularity of ETH staking and the excitement around ETH’s next big upgrade. More information regarding Rocket Pool mainnet launch can be found here.

    2. Uniswap (UNI)

    UNI is the governance token of the automated market maker (AMM) protocol Uniswap. UNI tokens are ERC-20 tokens that allow holders to decide on the future of Uniswap by voting on proposals. Uniswap – the platform, which facilitates quick swaps between various Ethereum-based tokens, has recently been struggling to keep its users and market share because of high fees on Ethereum. In March this year the project released Uniswap V3, a new and impoved version of the AMM protocol on Ethereum mainnet. In July 2021 Uniswap made an effort to reduce the costs of trades by launching on two Ethereum Layer 2 networks: Optimistic Ethereum and Arbitrum. Nevertheless, both Uniswap’s Layer 2 deployments are still in beta.

    Buy/Sell UNI

    Chinese traders are flocking to decentralized exchanges after Chinese Government imposed a ban on cryptocurrencies

    On September 24, two documents concerning cryptocurrency regulation issued by the China’s central bank were made public. The documends, which reveled the next steps in China’s cryptocurrency crack down, stated that “providing cryptocurrency-related services like trading, token issuance and derivatives is illegal”. Furthermore, the bank emphasized that this applies to Chinesse exchanges as well as overseas crypto bussiness offering their services to Chinese residents. In the day after the news have spread like fire through the crypto communities all around the globe, the cryptocurrency markets were hit hard. While Bitcoin dropped for 6.5%, exchange tokens issued by Huobi and OKEx, i.e. exhcanges with a large number of volume deriving from China, suffered much greater losses. Huobi token (HT) and OKB prices more than halved. Interestingly, the news of crypto ban in China had an opposite effct on DeFi and especially DEX tokens, which posted high gains in the days following the event, as iinvestors anticipated that Chinese traders will flock to DEXs now that centralized exchanges are not accessible. And they were right. Data shows that users have withdrawn massive amounts of crypto holdings from centralized exchanges. The increase in total value locked in various DeFi protocols and the increase in trading volume on several DEXs indicates that Chinese crypto has been put to work in the DeFi protocols. Since Uniswap is the biggest DEX, it stands to benefit the most from the recent shift to decentralized trading platforms. In addition, Uniswap is making an effort to continuously improve its services. The recently introduced Auto Router function optimizes the end price by splitting the order route across multiple pools. Furthermore, Uniswap added support for EIP-1599 and improved user experience (UX) for Uniswap on Layer 2 networks in September.

    1. dYdX (DYDX)

    dYdX is a non-custodial decentralized cryptocurrency derivatives exchange. The same named DYDX token is a governance token for the dYdX exchange protocol. Token holders govern the dYdX Layer 2 protocol to align incentives between traders, liquidity providers, and partners. Aside from governance, traders are eligible for trading discounts of up to 50% when trading on dYdX provided they hold the required amount of tokens. dYdX governance token, which launched in early September, was airdropped to protocol users retroactively based on their trading volumes on the platform prior to its full decentralization. 25% of the initial token supply will be distributed to users who trade on the dYdX in the form of trading rewards while liquidity providers can benefit from the reward pool that consists of 7,5% of the initial supply. In addition, a community treasury has been put in place in order to grow the ecosystem through grants and liquidity mining programmes.

    Buy/Sell DYDX

    Crypto derivatives exchange dYdX hit a daily trading volume of over $10 billion

    While the reasons behind DYDX being on the top of this week’s Coins to Watch list are largely similar to those listed under Uniswap, DYDX is arguably even more attractive for new users, since it offers lower fees and rewards both traders and liquidity providers with its DYDX governance token. The fact that the daily trading volumes on the dYdX exchange increased almost exponentially following the China ban supports this prediction. In fact, dYdX’s 24-hour trading volume surpassed $10 billion on September 28 according to the exchange’s own metrics. Because of the increased trading volumes on dYdX and decreased volumes on centralized trading platforms, dYdX is routinely surpassing the trading volumes of crypto derivatives on its centralized counterparts. This will likely translate to higher gains and returns on the DYDX token as compared to UNI in the short term, which is why we list DYDX higher on the list that UNI. In addition, DYDX technical indicators are indicating a continuation of the bull run. At the time of writing DYDX is changing hands at a price of over $24. This means that the token almost doubled its price since the documents about the Chinese crypto ban surfaced.

  • Ojamu announces its IDO public sale on multiple PAID Network and Ignition Global launchpads

    Ojamu announces its IDO public sale on multiple PAID Network and Ignition Global launchpads

    Singapore, Singapore, 4th October, 2021,

    Ojamu – a marketing technology (MarTech) platform that leverages the power of blockchain, Ai, and NFTs to create and automate the most effective digital marketing campaigns for Brands,  has announced the first ever Initial DEX Offering (IDO) of its OJA token on three different token launchpads – Ignition, PAID Network India, and PAID Network Asia.

    Ignition is PAID Network’s decentralized swapping protocol that allows blockchain projects to offer their private and public auctions. It vets and selects only top-tier cutting-edge projects.

    Ojamu had earlier raised $1.7 million in an oversubscribed private sale  that saw participation from Ascensive Assets, Master Ventures, Moonrock Capital, Morningstar Ventures, A195 Capital, Genesis Block Ventures, Vendetta Capital, X21, Waterdrip Capital, Chain Capital, and other notable investors.

    The IDO public sale is set to take place between October 5th and 7th, 2021. Ojamu will be the first blockchain project to: 

    • Launch on the yet-to-be-announced PAID Network India platform on October 5th, 2021
    • Launch on the yet-to-be-announced PAID Network Asia platform on October 6th, 2021
    • Simultaneously launch on all 3 platforms – Ignition, PAID Network India, and PAID Network Asia. The Ignition launch is scheduled for October 7th, 2021

    There will be a supply of 2,542,373 OJA tokens for purchase at $0.1180. The $300,000 IDO will be split among the three platforms. 

    The OJA token is both a governance token for the Ojamu DAO and a marketplace token that holders can use to access the prediction NFTs. It is designed to accelerate healthy growth of the Ojamu platform and ecosystem, give owners a voice, and build market resiliency. Token holders can vote on the future proposals in the Ojamu ecosystem.

    About Ojamu

    Built to be interoperable across leading Blockchains such as Ethereum, Polygon, Polkadot and Solana, Ojamu is a Singapore-based MarTech platform that automates and optimizes digital marketing campaigns across any industry vertical; utilizing ‘real-time’ data, Ai and Blockchain technology.

    Ojamu enables Brands to reach their digital marketing goals with data-driven predictions and recommendations across all digital channels, both in the Blockchain and ‘traditional’ business space.

    For media inquiries, please contact: Fateh Singh, fateh@ojamu.com 

    For further information, visit: https://www.ojamu.com/ 

    Contacts
    • Fateh Singh
    • fateh@ojamu.com