Bankless co-founder David Hoffman has disclosed how he redeployed capital after selling ETH, revealing a new portfolio tilted toward VVV, NEAR, ZEC, HYPE and LIT. The move marks a notable shift for one of Ethereum’s most recognizable public advocates and has triggered debate over whether Hoffman is rotating into a new long-term thesis or chasing a different segment of the market.
In a post on X, Hoffman said he “immediately took ~50% of the capital to VVV, NEAR, ZEC, HYPE” after selling ETH. The other half, he said, was held back for dollar-cost averaging into an asset that had not already moved sharply higher.
“I left the rest as capital to DCA into something not already up multiples,” Hoffman wrote, adding that NEAR was an exception because it was “~1.40 at the time.” He then said he had completed that second leg of the rotation: “I’ve finished buying LIT with that remaining 50%.”
Why Hoffman Chose LIT As Next Major Crypto Bet The disclosure quickly shifted into a broader discussion about Hoffman’s investment thesis around LIT and Lighter, particularly after Multicoin Capital’s Kyle Samani asked why a user would choose Lighter over Robinhood. Hoffman framed the answer around product specialization, market structure and auditability rather than simply token speculation.
“The easy answer is that Robinhood is an everything platform, and Lighter is highly optimized for perps specifically,” Hoffman wrote. “Lighter has more assets, including more pre-IPO markets. Lighter doesn’t require KYC sign up, and Robinhood Perps are for only a closed group of users in the EU.”
He acknowledged one important constraint: “By contrast, Lighter is VPN blocked in the US.” But Hoffman argued that the deeper distinction is transparency. He pointed to zkLighter, Lighter’s zero-knowledge system, which he said allows end users to verify the exchange’s rule enforcement without permission.
“zkLighter is fully auditable by end users, so anyone can permissionlessly verify the exchange is following its own rules,” he wrote. “Order matching, funding, risk checks, liquidations etc are defined in zk circuits, so Ethereum verifies that they followed Lighter’s rules before accepting state updates. Bullish crypto ethos!”
For Hoffman, the auditability claim is not merely technical branding. He argued that it goes directly to trader and market-maker trust, because participants can verify that “there is no privileged party trading against users,” invoking the FTX and Alameda collapse as the relevant failure mode.
Hoffman also emphasized latency and execution cost. He claimed Lighter has “the best latency of any perp exchange” and “the best fee structure,” while pointing to third-party comparisons against Hyperliquid. On Robinhood, however, he was more cautious, saying he could not judge Robinhood perps directly because he cannot access them and would not be able to audit them in the same way.
“Maybe Robinhood, when it eventually rolls out perps, also has a 0-fee structure too,” he wrote. “But that means a tie between RH and Lighter, not a RH win.”
The debate also exposed pushback from parts of the Ethereum community. One user accused Hoffman of going “from eth maxi to the other extreme,” while another suggested he had become more of a short-term trader. Hoffman rejected both characterizations.
“The technology under all of these assets is pretty interesting too,” he replied to one critic. To another who joked about him having an investment thesis and sticking to it, Hoffman responded: “My last investment thesis I had for eight years. God forbid I get a new one!”
Asked directly about LIT versus HYPE, Hoffman said he views the position as both “beta and alpha” to HYPE. His reasoning centered on relative buybacks, product quality and regulatory positioning, citing “LIT buybacks” as moving at “2x the relative speed of HYPE Buybacks,” alongside what he described as a technically superior product, better fees, stronger latency and US domicile.
At press time LIT traded at $1.50.
LIT bulls must break the 0.786 Fib, 1-week chart | Source: LITUSDT on TradingView.com Featured image created with DALL.E, chart from TradingView.com
Crypto token M plunged over 80% in a short period, hitting a low near $0.5.
According to HTX market data, the token M saw a sharp short-term price plunge, with its decline once exceeding 80% and hitting a low of around $0.5, and is now trading at $0.54.
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Blockchain data infrastructure firm Cambrian has closed a $6 million funding round, jointly led by Franklin Templeton and Polychain Capital.
Blockchain data infrastructure project Cambrian has closed a $6 million seed round, co-led by Franklin Templeton and Polychain Capital, with participation from Flow Traders, Selini Capital, and other investors. The project previously raised a $5.9 million pre-seed round led by a16z Crypto Startup Accelerator, bringing its total funding to $11.9 million. Cambrian currently provides institutional investors and AI Agents with real-time and historical data APIs covering on-chain yields, risks, lending markets, and trading activities, and plans to further build a verifiable data oracle network. Official data shows it has indexed over $4.5 billion in lending TVL, tracks more than 320,000 DEX liquidity pools, and currently supports Base and Solana, with plans to expand to additional ecosystems including Ethereum. The funds will be used to expand on-chain data coverage, accelerate oracle network development, and team recruitment.
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Whale 0xbilly pulled off another "buy high, sell low" move, exiting with a $220,000 loss in a single day.
According to EmberCN’s monitoring, whale address 0xbilly liquidated 2,409 ETH in the early hours of today when ETH fell to around $1,569.5, worth approximately $3.78 million, with a total loss of roughly $220,000. Notably, this batch of ETH was purchased just one day ago for about 4 million USDC, at an average price of approximately $1,660.2. The address also previously bought 7,768.5 ETH at a high of $2,254 in March this year, valued at around $17.51 million, and exited via stop-loss four days later, incurring a loss of roughly $800,000.
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Two whales opened a short position worth approximately $90 million on the S&P 500.
According to monitoring by Onchain Lens, two whale addresses are building short positions on the S&P 500, with a combined position of approximately $90 million. Details are as follows: Whale address "0x469" has opened 6,500 S&P 500 short positions, using 20x leverage, valued at around $48 million, with a liquidation price of $8,413.66. Whale address "0x4ff" has opened 5,686.66 S&P 500 short positions, using 7x leverage, valued at around $42 million, with a liquidation price of $8,358.13.
1 seconds ago
Binance's Shanghai leverage contract fee rate surges to 0.66%
Market data shows South Korea's SK Hynix rose over 10% intraday. The funding rate for Binance's SKHYNIX/USDT contract pair jumped to 0.668%, equivalent to an annualized rate of 723%, signaling the market is gripped by FOMO-driven long positions.
1 seconds ago
US-listed optical module stocks rallied broadly in after-hours trading, with MRVL surging over 5%.
According to Bitget market data, driven possibly by Micron’s better-than-expected financial results, U.S.-listed optical module stocks rose broadly in after-hours trading, with COHR up 4%, LITE up 3%, AAOI up 5%, NOK up 3.1%, and Marvell (MRVL) up 5.17%.
Crypto token M plunged over 80% in a short period, hitting a low near $0.5.
According to HTX market data, the token M saw a sharp short-term price plunge, with its decline once exceeding 80% and hitting a low of around $0.5, and is now trading at $0.54.
1 seconds ago
Blockchain data infrastructure firm Cambrian has closed a $6 million funding round, jointly led by Franklin Templeton and Polychain Capital.
Blockchain data infrastructure project Cambrian has closed a $6 million seed round, co-led by Franklin Templeton and Polychain Capital, with participation from Flow Traders, Selini Capital, and other investors. The project previously raised a $5.9 million pre-seed round led by a16z Crypto Startup Accelerator, bringing its total funding to $11.9 million. Cambrian currently provides institutional investors and AI Agents with real-time and historical data APIs covering on-chain yields, risks, lending markets, and trading activities, and plans to further build a verifiable data oracle network. Official data shows it has indexed over $4.5 billion in lending TVL, tracks more than 320,000 DEX liquidity pools, and currently supports Base and Solana, with plans to expand to additional ecosystems including Ethereum. The funds will be used to expand on-chain data coverage, accelerate oracle network development, and team recruitment.
1 seconds ago
Whale 0xbilly pulled off another "buy high, sell low" move, exiting with a $220,000 loss in a single day.
According to EmberCN’s monitoring, whale address 0xbilly liquidated 2,409 ETH in the early hours of today when ETH fell to around $1,569.5, worth approximately $3.78 million, with a total loss of roughly $220,000. Notably, this batch of ETH was purchased just one day ago for about 4 million USDC, at an average price of approximately $1,660.2. The address also previously bought 7,768.5 ETH at a high of $2,254 in March this year, valued at around $17.51 million, and exited via stop-loss four days later, incurring a loss of roughly $800,000.
1 seconds ago
Two whales opened a short position worth approximately $90 million on the S&P 500.
According to monitoring by Onchain Lens, two whale addresses are building short positions on the S&P 500, with a combined position of approximately $90 million. Details are as follows: Whale address "0x469" has opened 6,500 S&P 500 short positions, using 20x leverage, valued at around $48 million, with a liquidation price of $8,413.66. Whale address "0x4ff" has opened 5,686.66 S&P 500 short positions, using 7x leverage, valued at around $42 million, with a liquidation price of $8,358.13.
1 seconds ago
Binance's Shanghai leverage contract fee rate surges to 0.66%
Market data shows South Korea's SK Hynix rose over 10% intraday. The funding rate for Binance's SKHYNIX/USDT contract pair jumped to 0.668%, equivalent to an annualized rate of 723%, signaling the market is gripped by FOMO-driven long positions.
1 seconds ago
US-listed optical module stocks rallied broadly in after-hours trading, with MRVL surging over 5%.
According to Bitget market data, driven possibly by Micron’s better-than-expected financial results, U.S.-listed optical module stocks rose broadly in after-hours trading, with COHR up 4%, LITE up 3%, AAOI up 5%, NOK up 3.1%, and Marvell (MRVL) up 5.17%.
Crypto investor Chris Burniske says that Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and the crypto market in general look ready to make a run.
The former head of crypto at ARK Invest tells his 292,200 followers on the social media platform X that several catalysts are now lining up, hinting that digital asset markets are on the verge of a rally.
[adinserter block="1"]
According to Burniske, a partner at venture capital firm Placeholder, the highly anticipated launch of Ethereum-based exchange-traded funds (ETFs), Republican presidential candidate Donald Trump speaking at an upcoming Bitcoin event and the current state of BTC, ETH, and SOL charts all suggest major bullishness for crypto markets.
“With ETH ETFs slated to go live, Trump speaking at The Bitcoin Conference, and BTC, ETH, SOL charts that look like [they do] (while equities are weak), it’s hard to see a world where we don’t send next week.”
Reuters recently reported that preliminary approval for ETH ETFs was granted while The Bitcoin Conference is set to take place from July 25th-July 27th.
BTC, ETH, and SOL are trading for $67,333, $3,528 and $174 at time of writing, respectively.
The venture capitalist also provides an update on his prediction that the total market cap of crypto assets will eventually reach $10 trillion. According to his chart, the road to $10 trillion is currently “23%” complete as it sits around $2.2 trillion.
Source: Chris BurniskeX Earlier this month, Burniske said in an interview with Real Vision CEO Raoul Paul that he’s keeping a close eye on the Move ecosystem, which was originally built by social media giant Meta and then used to develop layer-1 blockchains Sui (SUI) and Aptos (APT).
Synthetix recently unveiled USDx, a stablecoin and collateral instrument for Synthetix on the Layer-2 Ethereum scaling solution called Arbitrum. USDx is the stablecoin in the Arbitrum ecosystem that is supposed to provide better liquidity and collateral for the platform.
Synthetix’s liquidity providers, popularly called LPs, can mint USDx by their deposits in Arbitrum pools on zero-interest loans. This setup enables LPs to access more DeFi opportunities on Arbitrum, making USDx a strategic instrument in the Synthetix universe.
Ensuring Stability Through Over-Collateralization For price stability, USDx is over-collateralized by staking the deposited funds to Synthetix liquidity pools. When the collateral for a position declines to the minimum required ratio, that position is closed out. This mechanism guarantees that USDx stays safely collateralized at all times, thus preventing its value from suffering the effect of shifting market situation. The over-collateralization mechanism is supposed to make the USDx a stable asset for its users and mitigate the fluctuations within the ecosystem.
USDx Powers Synthetix Perps on Kwenta In addition to this, USDx has been assigned as the reference currency for Synthetix perpetual futures (Perps) on Kwenta, one of the most used decentralized derivatives. PnL for traders is separated in USDx to help make trading more seamless on Arbitrum. The 1inch aggregator allows users to trade USDx for any other asset on the Arbitrum blockchain. Also, LPs offering liquidity to the USDx/USDe pool on Curve Finance earn fees on 1inch trade routing, with the claimed variable annual percentage rate (vAPR) for the USDe+USDx pool on Convex Finance above 16%.
Expanding Options with 81 Perp Markets This rollout includes USDx but also 81 new Perp markets and four collateral choices to improve trading on Kwenta. Besides USDx, the available collaterals include Wrapped Bitcoin (tBTC), Ethereum (ETH), and Ethena USD (USDe), which would ensure more convenience and variety for users. In this manner, working on these new assets has allowed the derivatives liquidity protocol to expand its target audience and help improve the general depth of Arbitrum’s DeFi market.
For instance, the public can try these offerings on Kwenta through the App and see the future of USDx in the Synthetix Arbitrum ecosystem. This growth is an achievement that puts the derivatives liquidity protocol on the list of players in the decentralized finance on Layer-2 solutions.
AUTHOR
With over five years of experience in crypto, blockchain, and tech content, Ishtiyaq makes complex topics easy to understand. He simplifies blockchain and digital currency concepts for a wide audience, ensuring that beginners and experts alike can grasp key ideas. His clear and engaging writing helps readers stay informed about the latest trends, developments, and innovations in the crypto space. Whether explaining blockchain technology, digital assets, or DeFi, Ishtiyaq breaks down complicated ideas into simple, digestible content. His goal is to help people navigate the fast-changing world of cryptocurrency with confidence, clarity, and a deeper understanding.
Bitcoin’s recent parabolic market performance has attracted significant attention to the entire cryptocurrency market. This is both reasonable and expected. Since its inception, the crypto market as a whole has traditionally followed Bitcoin, and to a lesser extent Ethereum.
These days, however, cryptocurrency receives considerable attention from mainstream media channels. Gone are the days when the only access to reliable cryptocurrency news was from crypto-specific websites and media outlets.
Today, cryptocurrency happenings can be regularly found on the pages of major web outlets, including Yahoo Finance and Forbes.
Cryptocurrency and Soccer With this type of increased media attention come greater opportunities for moving into new and promising advertising markets. For example, soccer teams in Europe are beginning to collaborate with and sponsor various crypto projects.
This is positive news for both the blockchain economy and the sports industry. Blockchain projects are experiencing increased visibility in an entirely new space. The sports industry has the opportunity to benefit from various product and service offerings that are made possible by blockchain technology. These include convenience, increased accountability, and fast transactions.
One of the first major blockchain and cryptocurrency collaborations was between Rimini FC 1912, an Italian Serie C soccer club, and blockchain venture Quantocoin. The blockchain technology project offers exchanges, trading, and remittance payments for a potential client base of 2 billion people.
You may also like: Mining Profits Dry Up Across Bitcoin, DOGE, LTC, and BCH Saylor Should Stop Buying Bitcoin, Says CryptoQuant Strengthening Dollar and OG Selling Pressure Keep Bitcoin Bears in Control Quantocoin purchased 25 percent of Rimini entirely with cryptocurrency, precisely its native token, the Quantocoin (QRCt). This is significant, as it was the first time that a soccer team has been purchased using cryptocurrency.
Quantocoin’s mission is to continue along this trajectory, making many more sports-related purchases with cryptocurrency.
According to a press release, English Premier League club, Newcastle United has also partnered with a blockchain project, StormGain. The Newcastle team is well known across Europe, making this a valuable collaboration for StormGain, a platform offering cryptocurrency margin trading.
StormGain’s CEO, Alex Althausen, remarked:
“We are thrilled to be partnering with an exciting and a leading soccer club such as Newcastle United. We believe the collaboration of cryptocurrencies and mainstream sports is inevitable. Therefore it’s a privilege and an honor for StormGain to be the spearhead of the blockchain community colliding with mainstream sports.”
Another interesting blockchain-soccer collaboration comes from Portugal. The famous S.L. Benfica announced in early June that its merchandise would be available for purchase with cryptocurrency. Benfica accepts Bitcoin (BTC) and Ethereum (ETH) as well as UTRUST token (UTK).
CoinMarketCap, which provides data services to the cryptocurrency market, also recently entered a sports-based partnership. Israel’s Beitar Jerusalem now wears the CoinMarketCap brand prominently during its matches. Moshe Hogeg, the new owner of the club, is a well-established cryptocurrency pioneer and entrepreneur.
Advertising Too Other recent partnerships with football clubs, such as CoinDeal’s Wolverhampton Wanderers sponsorship renewal, show that this type of exposure for cryptocurrency is growing and becoming more widely accepted in mass markets such as sports.
As the cryptocurrency world finds renewed hope and power in its long-anticipated turnaround from the 2018 bear market, it seems as if all news is good news, at least for now. These alliances with major sports franchises within the soccer world are undoubtedly great news, for supporters of the sport and blockchain technology alike.
Pundi X was one of the most highly anticipated ICOs of 2018. This meant that it was able to hit its $35 million hard cap within 90 minutes.
The project is trying to build a large decentralized crypto point of sale network. They are trying to acheive this through Merchant devices, cards and crypto wallets. If they succeed, they hope to make buying cryptocurrency as easy as "buying bottled water".
However, are these ambitions too grand?
In this Pundi X review I will attempt to answer that. I will also take an in-depth look at the use cases of the NPXS token as well as its long term adoption potential.
Pundi X Technology and Use CasesThe driving force behind the creation of Pundi X is the steep learning curve for those just entering the cryptocurrency ecosystem. With very few exceptions (Robinhood and Coinbase come to mind), current cryptocurrency exchanges are confusing and difficult to learn for new users.
And that doesn’t even touch on the difficulty and confusion associated with juggling multiple wallets, private keys, passphrases and authenticators.
Honestly, even experienced cryptocurrency users can become somewhat frustrated. Pundi X offers to change all this through three interlocking pieces of technology: The Pundi X platform, mobile wallets, and card payments.
One interesting and unique feature of the Pundi X network is that its devices are integrated into two blockchains – Ethereum and NEM. Nem (XEM) was chosen because it is popular with Asian financial institutions, and because it has the technology to enable nearly instantaneous payments.
The PlatformThe Pundi X POS device has begun production in February 2018 following the ICO and has been shipping to merchants since July 2018. The list of merchants has been expanding at an ever increasing pace. You can see a list of all of the global merchants here
It allows customers to pay for goods with cryptocurrencie stored in their mobile wallet, and can also be used to buy cryptocurrencies (BTC, ETH, XEM, QTUM, or ACT) to top up the wallet.
During the ICO Pundi has said that they will deliver 100,000-700,000 POS devices to at least 12 different countries over the next three years. In addition to the base model, Pundi is also designing a smaller unit and a desktop version that will be capable of accepting major credit cards, Apple Pay and Samsung Pay.
Pundi X POS System Explained
The team is actually doing much better with XPOS devices shipped to more than 25 countries as of November 2019, and expectations for over 100,000 XPOS devices being deployed by 2021.
The POS system also serves merchants as it incorporates inventory, membership and identity management features. Pundi X says the POS system will be far better than Bitcoin ATMs thanks to the increased range of services available and the lower cost.
In addition, the devices are far smaller, enabling them to be installed in many places where a Bitcoin ATM wouldn’t be feasible. The Pundi X token (NPXS) will be used as gas for the network, powering transactions and advertisements, as well as identify customers for qualified discounts.
The initial 500 units were delivered to select locations in late June, and on July 10, 2018 the team announced the first of these, which are located in Hong Kong in four participating FAMA restaurants as part of the RISE 2018 convention. The team also distributed XPASS cards to RISE 2018 participants to demonstrate how easy it is to use cryptocurrencies to make purchases using their technology.
The current and planned Pundi X PoS devices. Image via Pundi X
The team has also said they will focus on Indonesia, which is the largest South-East Asian country, with a population of roughly 250 million. Obviously, Hong Kong has also become a target for early adoption, and the Pundi X team has also said that it has expanded into China.
It’s very exciting to see the team shipping and beta testing the actual hardware, and while it may seem unreal to be able to purchase goods with cryptocurrency, and to purchase cryptocurrency while waiting for your lunch or dinner to be served, this platform could not only make it a reality, but make it widely accepted over the next three years.
Pundi X WalletThe mobile wallet (Pundi XWallet) will simplify key management for users, storing the public and private keys and using a password system similar to any online system.
This feature alone is expected to massively increase adoption of cryptocurrencies by new users, however, there are worries that it could deter existing cryptocurrency users who worry about security and privacy issues.
The wallet is able to hold BTC, ETH, BNB and NSPX, as well as fiat currencies. There are plans to add support for additional currencies over time. The XWallet also includes a virtual XPASS card, or it can be synched with a physical XPASS card.
Screenshots of XWallet in the Google Play Store
The XWallet is available on both iOS and Android devices and are free to download. In terms of feedback on the apps, it has about a 4.3 star rating in the Google Play store. However, there appears to have recently been a number of complaints about the functionality of the app.
Some of these relate to the KYC requirement of Pundi X which is not something that they can really control. However, for those that are technical in nature, the team appears to be quite responsive and - most importantly - receptive.
The Pundi X Card Payment SystemThe company has released a card, which they are naming the XPASS card, which works together with the mobile app and wallet, enabling payments and deposits by card (a familiar medium for most) that are pulled from the mobile wallet.
In addition, users are able to see the current market price of each cryptocurrency before paying for goods and services, allowing them to pay with the cryptocurrency that brings the best value at the time. Currently, the XPASS card has support for BTC, BNB, ETH and NPXS.
This ability to pay for things easily with cryptocurrencies is what will finally give them real value in a widespread sense. The Pundi X whitepaper states that
most cryptocurrencies can only be used to buy other cryptocurrencies, reducing the relevance of them to almost zero for most people
Pundi X Card Payments
Indeed one of the primary arguments of non-crypto believers is that cryptocurrencies have no real value. It is hoped that enabling ease of payments will change that opinion.
It does seem as if the Pundi X team has created a technology system that has the potential to make cryptocurrencies widely accepted and used on a global scale. While the use cases are strong in theory, much of the adoption will depend on how quickly the POS devices can be rolled out, how well they actually work, and how successful the next several years of marketing for the technology is.
It is also notable that Pundi has partnered with iBank for the release and distribution of the XPASS cards. They offer both the standard XPASS card as well as a special edition Cao Jun designed card.
Pundi has also released a Manga themed XPASS card that also supports NEM and Qtum. Eventually, these special edition cards will be made into digital assets on the IOST blockchain.
Pundi Function X - f(x)Function X or f(x) is Pundi’s vision of the blockchain internet and includes not only a decentralized internet model, but also the hardware devices necessary to take advantage of this new blockchain based operating system.
The first device being launched is the Pundi X blockchain phone, being dubbed “BOB” for “Blok on Blok”. In addition to the blockchain based phone, the Pundi X team is also planning on redesigning the XPOS terminals to take advantage of f(x) technology. Finally, there is a Function X physical node in development.
FXTP Protocol With the BOB Smartphone
These are only three examples of hardware that can be created to take advantage of the f(x) operating system. Like everything else the Pundi X team takes on, the concept of the Function X operating system is ambitious, impressive, and far-reaching.
Pundi X TeamThe Pundi X team are a talented group of technologists and entrepreneurs, which seems to be exactly what this project will need for success. In general, the management team is comprised of computer engineers turned serial entrepreneur.
The glaring exception to this is CEO and founder Zac Cheah, who was formerly an HTML games developer, but perhaps this is why he surrounded himself with such a strong team.
The President of Pundi X, Constantin Papadimitrou, has a long history of founding successful fintech companies, and scaling them, which makes him an ideal fit for a project that will need rapid growth and adoption.
From Left: Zac Cheah (CEO), Pitt Huang (CTO), Constantin Papadimitriou (President), Danny Lim (CFO)
The CTO/COO and co-founder Pitt Huang created and sold his first business by the age of 25 and went on to create and sell several more business, including one that had over 200 employees.
The CFO and the third co-founder of the project is Danny Lim. Danny is an APAC financing expert who has product design experience with Baidu and Lenovo. Danny is a PhD Law scholar from Tsinghua University and hold ACMA and CGMA accounting qualifications.
The management team operates out of Jakarta, which the research team largely operates out of Shenzhen. Overall the team has physical offices in Jakarta, London, São Paulo, Seoul, Tokyo, Shenzhen and Singapore. As of August 2018 the team is comprised of more than 150 employees, with over half filling research and development roles.
PartnershipsThe Pundi X team has worked diligently, not only on the product and platform, but also on partnerships to help spread the platform and ensure both short-term growth and long-term stability.
The most significant partnership for Pundi X has been the one with NEM. It is this partnership that will allow Pundi X to confirm transactions instantly. Without this the team would almost certainly be able to gain traction with consumers, who are not going to be willing to use a transactional payment system that takes several minutes at the least to confirm transactions. The fast and inexpensive transactions provided by NEM make it possible for Pundi X to gain mainstream adoption.
Pundi X Partnerships
The Pundi team has also spent time positioning itself within the cryptocurrency ecosystem, establishing partnerships with the Indonesian Blockchain Association, the Singapore Fintech Association, the XPOS Consortium, ACCESS, the Fintech Association of Hong Kong, and the Swiss Finance and Fintech Association.
This last led to a further partnership with Swiss company UTRUST, who have committed to deploying 1,000 of the Pundi X POS devices.
Pundi X has been proactive in creating partnerships as a key business development tool. They have also used them to maximize their value proposition, increasing trust, engagement and adoption for both consumers and merchants. This should assist them tremendously in their marketing efforts as they roll out the Pundi X devices and systems throughout Asia and beyond.
Even though the NXPS coin has been languishing along with the rest of the cryptocurrency markets, the project continues to attract members to its various online communities. In fact, it has by far the largest following on Facebook I've ever seen for a blockchain project with over 110,000 followers of its page.
That dwarfs its other social media accounts, although it does have a strong Telegram channel, with over 40,000 followers there.
The project's following on Twitter is pretty solid, with 66,600 followers. The team is also active there, not only tweeting their own stuff but also retweeting useful information from other Twitter users and blockchain projects.
The sub-Reddit for Pundi X is somewhat disappointing, with only 5,534 followers. Posts here are infrequent too. In fact, you'd be better off following the project's YouTube channel, which has a large number of videos and some very good information about Pundi X and NXPS tokens.
It also has over 4,000 subscribers, which is pretty good on Youtube for a blockchain project.
The NPXS TokenAs mentioned earlier, Pundi X held an ICO back in January, raising their $35 million hard cap in just 90 minutes. As we all know, the first quarter of 2018 was a bad one for crypto in general and the NPXS token slowly sank from $0.001 to between $0.0007-0.0008 by April.
That’s where things got interesting after the Bancor Network listed the NPXS token. That took the price to $0.004 or so, but then in May price jumped again, reaching nearly $0.015 before dropping back. Price spiked to an all-time high of $0.015621 on June 17, 2018 when the shipment of the first 500 XPOS devices was announced.
NPXS Price Performance. Image via CMC
Of course, that pump didn’t last and price turned lower almost immediately following the June shipment announcement. There was a brief rally in May 2019, but by October 23, 2019 price was at an all-time low of $0.000159. Several weeks later on November 8, 2019 price has recovered slightly to $0.00018, making NPXS the 94th largest coin by market cap.
Trading & Storing NPXSIf you think now is a good time to buy NPXS, or if you just want to support the project, you’ll find the token listed on dozens of different exchanges.
The largest trade volume can be found at Binance, but Upbit and Hotbit also have good volumes. You could also consider Bithumb, Exrates, BKEX, or Vebitcoin. There are a handful of other exchanges with acceptable trade volumes although you could struggle with larger orders.
Taking a look at the liquidity on an exchange like Binance it appears average. For example, on the BTC / USDT order book the depth is reasonable with a minor bid ask spread however daily turnover is on the lower side. So, larger block orders could lead to some slippage.
Register at Binance and Buy NPXS Tokens
The recommend wallet is the mobile XWallet that is created and released by the Pundi X team. You can get it here and it is perfect for staking too. There are other options such as the Atomic Wallet, and of course, you can store NPXS in any ERC-20 compatible wallets too.
The NPXSXEM TokenIn addition to the NXPS ERC-20 token there is also an NXPSXEM token created from the NEM blockchain. It is a utility token that was created for utilization on NEMXPOS devices.
Pundi plans on manufacturing and deploying 20,000 NEM XPOS units around the world, all of which will run on the NEM blockchain. Of course, it is also openly traded on markets and as of this writing has a value of $0.000171.
NXPSXEM hit its all-time high of $0.004845 on August 8, 2018, just a day after being exchange listed. It’s all-time low was $0.000088 on October 16, 2019. Like NXPS it can also be staked by holding it in the XWallet until the end of 2020.
ConclusionPundi X has taken on an impressive and ambitious task in tackling what could amount to everyday adoption of cryptocurrencies by the masses, if their vision is realized. The technology seems appropriate for what they’re attempting, and the delivery of XPOS devices to more than 25 countries already shows the commitment of the team, and the success of the project to date.
The entire team has substantial experience in both technology and finance, which has been helpful to the start-up. With partnerships in place, and the hope for larger partnerships to be forged, Pundi X is like a sleeping giant.
All that’s left is to see if they can deliver on their promise of 100,000 units in the coming three years, and whether they are able to market those devices appropriately.
With those two pieces in place, you could be seeing a Pundi X device at a retailer near you in the near future. In fact, if you live in Brazil, Southeast Asia or some areas of Europe and Africa you might have already come across Pundi X devices.
And now with the development of Function X Pundi is looking to not only take over cryptocurrency merchant transactions, but they also want to take over the internet. Imagine if they’re successful. Pundi X in twenty years could be like a combination of Google, Apple, and Amazon with a global reach and commanding market presence.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.
Cryptocurrency alongside blockchain is a widely acclaimed and prevalent network in the world. It is being used in many fields of everyday life and is gradually taking over. It is a well-encrypted and protected form of decentralized bank, which is technologically sophisticated and complex. It holds great potential to create tremendous opportunities and is actively gaining a foothold in football as well.
Big clubs implementing cryptocurrencies2019 was a remarkable year when some of the top football clubs decided to align with cryptocurrency. Football superstar like FC Barcelona attacker Lionel Messi came forward to promote different cryptocurrency and blockchain projects, which was very surprising.
The first major club in Europe to actively accept cryptocurrency payments has been Portugalia club Benfica. In June 2019 the club signed a partnership with the UTRUST payment platform. It allowed fans to purchase merchandise with cryptocurrency, including Bitcoin and Ethereum successfully. In September 2019 Benfica sold tickets through the platform to Leipzig fans, and this move was met with approval.
In October 2019 English club Watford FC made an unusual decision. The footballers had the logo of bitcoin on the sleeves of the kit. The board described it as an action to educate people about the benefits of bitcoin.
The most decorated German club Bayern Munich has also decided to join the cryptocurrency system by signing a partnership with Stryking Entertainment. The Bayern officials described it as a great leap forward, and it became possible to acquire various collectibles and player cards for online competitions via tokens and coins.
In January 2019 Juventus with the help of Socios.com, online platform, started the Juventus Official Fan Token. The main reason for the campaign was to incentivize its fans to participate in global cryptocurrency trading actively. Later in August the club launched its customized digital token CHZ. French club PSG was also the one to strike a deal with Socios.com
A Premier football club Gibraltar United gained remarkable attention when the owner Pablo dana declared it would pay its footballers via cryptocurrency. He is an investor in Quantocoin and believes that it is an excellent way to tackle corruption which is very prevalent in football.
English football club Arsenal FC also expressed the willingness to engage in the cryptocurrency system actively and has signed the sponsorship deal with CashBet. Vinai Venkatesham, who is Arsenal's Chief Commercial Officer, said it was a pleasure for the club to work with CashBet.
Turkish club Harunustaspor declared in January 2018 that it became the first club in the world to successfully sign a player using cryptocurrency. A transfer that was carried out using the blockchain was very transparent and had all the information regarding the player.
Why do clubs make their cryptocurrencies? There are plenty of reasons why the clubs choose to implement cryptocurrency: First of all, it is a commercial strategy that attracts thousands of fans worldwide and effectively expands the global audience. Many people actively use cryptocurrency as a form of payment and find it more simple.
Secondly, it serves as the addition to get rid of credit cards and cash systems. Blockchain is a more robust and decentralized system, which allows its customers to feel safe and secure all the time. When the fans look forward to purchasing team kits or match tickets, it seems more convenient.
The third reason is that clubs also want to eradicate any corruption and money laundering, which saw many top officials removed in recent years. Due to its impenetrable and practically unbreakable system, the risks and vulnerabilities of any kind are completely eliminated. The clubs will manage financing matters securely, let alone the fact sponsorship will bring more revenue.
ConclusionCryptocurrency related brands regularly become official partners for football teams. They provide a unique experience and still are in initial stages to further develop. There are a number of reasons why clubs choose to align with them. It is an advantage in terms of reputation, revenue, simplification. More and more football teams are showing their desire to implement cryptocurrency strategies by choosing prominent ones actively. it is hard to predict whether it takes time to get used to it, but clubs are incredibly hopeful they will successfully carry out everything.
Conversations across the crypto space are circling back to blue-chip tokens, with Bitcoin, Ethereum, and Dogecoin taking the spotlight. Data from on-chain analytics platform Santiment shows that top market cap cryptocurrencies are dominating the surge in social chatter, with discussions ranging from institutional adoption and ETF speculation to technical barriers and ecosystem growth. Alongside them, Strategy, Tether, and MultiversX are also attracting strong attention.
Bitcoin And Ethereum Dominating Attention Despite price resistance at $112,000 throughout last week, Bitcoin is still the most closely watched cryptocurrency by analysts and investors. According to on-chain analytics platform Santiment, Bitcoin is currently dominating among crypto investors thanks to extensive discussions about its long-term role as digital gold, a monetary network, and a hedge against inflation. Conversations focus heavily on its scarcity, institutional demand, and the importance of self-custody. Traders are also discussing Bitcoin’s liquidity in flash crypto offers that allow instant trading and spending across multiple platforms.
Ethereum is trending, with mentions also tied to its role in flash tokens and its utility across wallets and decentralized platforms. ETH discussions are based on its transferability and use in trading, staking, and gaming, while institutions continue to accumulate large volumes. However, the Ethereum price is also facing technical struggles in breaking above $4,500, having been rejected at $4,480 multiple times in the past seven days.
BTCUSD currently trading at $111,170. Chart: TradingView Strategy And Dogecoin Also Generate Social Buzz Strategy’s and its MicroStrategy ($MSTR) stock are also hot topics due to the company’s massive Bitcoin reserves and its reputation as a leveraged proxy for BTC exposure. Particularly, market chatter has picked up around its potential inclusion in the S&P 500, which could cause institutional buying and fund inflows. At the same time, discussions show that investors are debating whether MSTR shares or Bitcoin ETFs provide better exposure.
Unsurprisingly, the word “Dogecoin” is in the limelight due to multiple developments last week. Most of Dogecoin’s mentions are based on the upcoming Rex-Osprey Dogecoin ETF, which could become a historic first for Dogecoin ETFs in the US financial market. Furthermore, Trump-backed company Thumzup is expanding Dogecoin mining operations by adding 3,500 rigs. Despite choppy price action last week, Dogecoin managed to close above $0.21.
Tether ($USDT) also saw huge mentions last week after the company announced deeper investments into gold, with its reserves now exceeding $8.7 billion. The company aims to expand into mining, refining, and trading, with its CEO calling gold a natural bitcoin. Additionally, new token listings related to Tether are appearing on platforms like BitMart.
MultiversX ($EGLD), meanwhile, is facing a different kind of attention. Social discussions highlight concerns about dilution of its supply and the migration of projects to other chains like SUI, raising doubts about long-term use cases. However, there’s optimism on projects such as xPortal and xMoney, with hopes that buyback mechanisms and upcoming launches could bolster value.
Featured image from Unsplash, chart from TradingView
Immutable Games, the publisher of Ethereum NFT card game Gods Unchained, announced Monday that it will release an expansion pack called Dread Awakening, which will feature a crossover with the upcoming mobile role-playing game Guild of Guardians.
The Dread Awakening set, slated to drop on April 23, will include 148 cards minted on Immutable X, an Ethereum scaling network originally created by the publisher. Guild of Guardians, also from Immutable Games, is set to hold its global launch on May 15.
"This was a really fun expansion for us to work on because we've been able to lean into the creativity and lore of Guild of Guardians, while working really closely and collaboratively with a team that is quite literally sitting right next to me," said Gods Unchained Executive Producer Daniel Paez, in a release.
The expansion's "cosmic horror" theme “introduces new mechanics and cards that will reshape the meta and hint to a bigger world than ever imagined," the announcement added.
"What makes this even more exciting for me is the anticipation of things to come from this collaboration,” added Paez. “IP crossovers are just the tip of the potential we can unleash with web3 gaming—true game interoperability is right around the corner.”
Paez previously spoke with Decrypt’s GG about the potential for interoperability in blockchain games. Gods Unchained previously launched on Ethereum years back, but now uses Immutable X for cheaper and faster transactions. The game recently expanded to iOS and Android, with Immutable claiming a 60% jump in monthly active users.
Editor’s note: This article was written with the assistance of AI. Edited and fact-checked by Andrew Hayward.
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Gods Unchained, a digital collectible card game, topped CryptoSlam’s non-fungible token (NFT) sales chart on Wednesday for the second consecutive day, though it recorded a drop from the previous day.
Gods Unchained had over US$612,000 in sales on Wednesday, down from US$930,000 on Tuesday.
The Immutable network, where Gods Unchained resides, recorded over US$806,000 in total sales on Wednesday, which was the fifth in the industry.
Ethereum led all chains in NFT sales with US$4.37 billion.
The second-ranking collection for the day was DMarket on the Mythos network. The collection, which represents in-game items, had US$539,193 in daily sales across 26,277 transactions.
Solana Monkey Business took the third spot with daily sales of US$567,134 across 117 transactions. The Solana-based collection has been climbing the all-time charts.
It currently has US$207.7 million in all-time trades and is eyeing the 30th spot, now occupied by SATS, a BRC-20 NFT set, with US$211.4 million.
The Solana blockchain, hosting the Solana Monkey Business collection, reported total sales of US$3.13 million for the day, the second-highest sales tally among blockchains.
DogeZuki Collection on Solana came in fifth for the day with US$414,755 in sales, while c_HyPC on Ethereum came in sixth with US$338,791.
Gods Unchained, the Ethereum NFT trading card game built on scaling network Immutable X, is set to release its latest expansion "Tower of Dread" on October 10, Immutable Games announced Tuesday.
The expansion features 40 new cards, including seven legendary cards with corresponding one-of-a-kind "Mythic" variants. It continues the game's narrative as players face off against the character Thaeriel in what the company describes as "the largest battle to date."
A key addition is a new gameplay mechanic allowing players to "destroy" their cards to earn points toward discounts on expansion packs. The release also includes two new game boards and trinkets themed around gothic horror.
A screenshot from Gods Unchained's Tower of Dread expansion. Image: Immutable Games"Tower of Dread marks another step in our continued march to make Gods Unchained into the game we all know it can be," said game designer Bryn Welch, in a statement.
🌿 Character Reveal: Narcilla, The Huntress 🏹
In the shadow of the Tower of Dread 🏰, Narcilla rules the Dreadwood, leading the Pursuers who guard the forest 🌲 and track all who approach.
“No one escapes the Dread.” 🌫️
6 down, 1 to go! 🤫 pic.twitter.com/at9BbZNO2U
— Gods Unchained (@GodsUnchained) September 30, 2024
Like the previous expansion, Dread Awakening, Tower of Dread continues the collaboration between Gods Unchained and another Immutable game, Guild of Guardians. The company has described the crossover as "the first steps towards full interoperability of a gaming ecosystem."
”As we continue to improve card text and refine our processes, our small team is excited to bridge the gap and tie into GoG and future IP collabs,” Welch added.
Gods Unchained is free to play across iOS, Android, Windows, and Mac with optional NFT cards available.
Editor’s note: This article was written with the assistance of AI. Edited and fact-checked by Andrew Hayward.
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Gods Unchained, a trading card game on Ethereum layer-2 network Immutable zkEVM, announced the launch of a battle pass ahead of its upcoming season and the new Fallen Age expansion coming on February 18.
The pass, which comes has one free tier and two paid tiers of premium rewards, will be available for pre-purchase from February 9 to February 17, offering users a 25% discount on the top two tracks, Premium and Shiny which are priced at $6.99 and $39.99 respectively.
With each pass tier, users are granted perks like new exclusive cosmetics, as well core card packs and Fallen Age packs from the new expansion.
As users move up tracks, they are granted additional perks like the Gods Unchained token (GODS) on Ethereum. Purchases of Premium or Shiny tracks will offer users 28 and 47 GODS tokens respectively, approximately $3.35 and $5.63 worth at current prices, with additional GODS rewards available as they play through the season.
The Fallen Age expansion set that arrives with battle pass season one will feature 56 cards, with seven legendaries and seven mythic variants, including two new gameplay mechanic cards: “Wither” and “Raid.”
Gods Unchained released its Tower of Dread expansion pack in October. The turn-based card game is available and free to play on iOS, Android, Windows, and Mac.
Edited by Andrew Hayward
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Your favorite altcoin may be up 100% year-to-date, but make no mistake, Bitcoin is currently the alpha of the cryptocurrency pack.
Related Reading: Bears in Charge as Bitcoin Price at Risk of November 2018 Style Dump Since Bitcoin dominance hit some 32% in early-2018, altcoins have underperformed. Dramatically. In fact, dominance for the leading cryptocurrency now sits at 69% and is showing no signs of stopping its growth.
According to a recent analysis by one leading trader, Willy Woo, the carnage seen in altcoin markets may soon end — or at least may take a breather. Bag holders rejoice!
Altcoins May Soon Bottom Against Bitcoin While Bitcoin is a mere 50% lower than its all-time high of $20,000, a majority of altcoins are far from achieving that milestone. Per data from Messari’s OnChainFX, XRP, Ethereum, Bitcoin Cash, and Litecoin are among the leading altcoins that are still more than 80% down from their all-time high. This bifurcation, as aforementioned, has resulted in a surge in Bitcoin dominance.
Woo, however, believes that altcoins may soon finally find some support against Bitcoin. He posted the below image on Twitter, which shows that the altcoin capitalization-to-Bitcoin capitalization ratio and the altcoin market volume-to-Bitcoin market volume indicators are currently “heading into a region of support.”
Indeed, as the Bitcoin-centric Adaptive Capital partner chart depicts, the two aforementioned indicators are currently poised to encounter two key lines of historical support. Should history repeat itself, altcoins should bounce in the coming months, potentially to kick off what crypto traders call an “altseason”.
Related Reading: Ethereum Price Has Best Risk-Reward Ratio Ever: Crypto Venture Capitalist Woo isn’t the only analyst currently charting for altcoins to finally start baring their fangs.
Per previous reports from NewsBTC, Bitcoin dominance is nearing the apex of a rising/ascending wedge, which, is a technical pattern marked by tightening ranges and a decrease in momentum. With an ascending wedge being seen as a bearish chart structure, BTC dominance may soon collapse and an altseason may come to fruition.
That’s not all, a Telegram technical indicator group recently posted that the weekly Bitcoin dominance chart on TradingView flashed a sell nine for the TD Sequential indicator. This strongly implies a strong trend reversal for altcoins against BTC, which has the potential to last for a number of weeks.
Or Not… Despite the signals that altcoins may finally have some room to run, not everyone is convinced. In fact, 70% of more than two-thirds of nearly 4,900 respondents to a Twitter poll believe that the altcoin carnage isn’t complete. The remaining 30% think that this subset of the crypto asset class has finally bottomed.
Pure fundamentals suggest that Bitcoin may continue to steal all the limelight from altcoins.
Just look to the U.S. Securities and Exchange Commission’s recent attacks against high-profile crypto projects, like Kik’s KIN and Veritaseum, which have both been sued by the financial regulator over recent months.
Also, institutions foraying into this industry have focused nearly solely on Bitcoin. Just look to Bakkt, which will be finally coming to market this fall with its first product — physically-deliverable Bitcoin futures.
Over the past few months, Bitcoin has dominated the investment scene. Year to date, the cryptocurrency has gained some 200%, which comes as traditional assets have bled out in anticipation of a recession and due to rising macroeconomic risk.
But one not-talked-about fact is that not only is Bitcoin outperforming traditional assets but altcoins too.
CoinMarketCap data shows that Bitcoin dominance — the percentage of the cryptocurrency market’s capitalization that is BTC — has risen to 70%, which is a level not seen in over two years. Even this 70% reading, however, may be understated.
Bitcoin Really is The Crypto King Blockchain analytics firm Arcane Crypto recently released a report, accentuating that the traditional Bitcoin dominance statistic is somewhat invalid. They wrote:
“Using the price and market valuation as signal of strength is of course a weak proxy. Price is far from everything and many projects might be hugely successful without the token capturing a large market capitalization.”
They thus argued that a better way to measure a cryptocurrency’s dominance is by weighting the market capitalization of all cryptocurrencies against their trading volume, which they claimed is a measure of market liquidity.
In doing this, their research found that “Bitcoin’s market dominance is pushed well above 90%. This is true whether we use the volumes as recorded on CoinMarketCap, excluding stable coins, which are representations of other assets rather than “true” cryptocurrencies, [or Bitwise’s “Real Ten” exchanges].”
Their research has been indirectly corroborated by a comment from a prominent crypto fund manager.
Speaking on the “Citizen Bitcoin” podcast recently, Murad Mahmudov, a former Goldman Sachs banker, explained that Bitcoin, by many measures, is the only liquid cryptocurrency on the market. He even explained that if you were to place a $1 million sell order of any top 15 cryptocurrency save for Bitcoin, you could crash the market.
Why is Bitcoin Outperforming? As reported by Blockonomi previously, Binance’s research division believes that much of this underperformance stems from a “flight to quality” from low-quality altcoins to the market leader.
You see, the countless altcoins that were propped up in 2017 and early-2018 have failed to deliver. Even bigger names in the cryptocurrency space have underperformed investors’ expectations.
That’s not all. The investors that are foraying into this industry are focusing their sights on Bitcoin. Just look to the media coverage of the cryptocurrency space. Notice how they don’t mention Ethereum, Litecoin, or Bitcoin Cash, but just Bitcoin.
This tacit “maximalism” has been reflected in institutional investors making sorties into this space. There’s a reason why Bakkt, the New York Stock Exchange-backed crypto startup, is starting with Bitcoin futures, not Ethereum futures or an altcoin basket ETF.
And to top it all off, regulators have taken a heavy stance against altcoins, especially those issued via a token sale or generation event. The U.S. Securities and Exchange Commission (SEC) has recently begun to wage war against ICOs, bringing lawsuits against Veritaseum and Kik’s KIN, for instance.
These cases have resulted in massive sell-offs for these tokens and have likely only added to the anti-altcoin sentiment currently brewing in the market.
With Bitcoin and Ethereum being the only two digital assets really signed off on by the SEC, traders are likely focusing their investment in these areas to avoid potential regulatory risks.
Do Altcoins Have Any Hope? This may leave you wondering if Bitcoin will continue to dominate.
According to a number of cryptocurrency venture capitalists and investors, Bitcoin’s strength against altcoins — well at least Ethereum — may soon end. Placeholder’s Chris Burniske recently wrote that Ethereum is currently like Bitcoin in 2014 in 2015, which is when the cryptocurrency exhibited “the best risk/reward period for investors”.
His tweet implied that Ethereum’s fundamental momentum and price are bifurcating, but that should history repeat, ETH’s value could soon surge.
1/ $ETH is enduring its 1st mainstream bear market, just as $BTC did in 2014/15.
In retrospect, 2014/15 was the best risk/reward period for investors to get BTC exposure.
— Chris Burniske (@cburniske) August 20, 2019
Nick Chong
I am a writer who has been following the cryptocurrency space since 2013. My insights and interviews have been featured in leading publications in the industry such as LongHash, NewsBTC, and Decrypt. When I am not writing, I work as a team member of the EXODUS division of HTC, a Taiwanese electronics company. I own a small amount of Bitcoin. Contact [email protected]
The U.S. Securities and Exchange Commission (SEC) seems to be waging a war against the crypto ecosystems. Over the past few months, the American financial regulator has continued to take action against industry firms that it deems in violation of securities laws.
On Thursday, the SEC revealed that it had settled a massive $10 million case with an unregistered cryptocurrency platform.
Crypto Firm Charged Millions For “Defrauding Investors” Announced in a press release published on Thursday, the SEC has settled charges with Bitqyck, a Dallas-based cryptocurrency exchange, and its founders for offering security-like cryptocurrencies and making false statements about its product.
The SEC’s complaint claims that Bitqyck and two founders Bruce Bise and Sam Mendez created and distributed Bitqy and BitqyM without the proper licenses. These sales of the two digital assets affected 13,000 investors and raised more than $13 million.
It was also proposed that platforms affiliated with the cryptocurrencies were operating in bad faith. QyckDeals was purportedly misrepresented as a global marketplace, offering certain products that were not bonafide.
One product QyckDeals sold was “smart contract” ensured fractional shares of Bitqyck. David Peavler, the Director of the SEC’s Fort Worth Office, called these “shares” “very alluring, [as] investors believe they are getting in on the ground floor and will own part of the operations.” Other parts of Bitqyck’s business was also alleged to be fraudulent, including promised “interest payouts” to BitqyM investors and touted a supposed “cryptocurrency mining facility.” Peavler stated in a press comment:
“We allege that the defendants took advantage of investors’ appetite for these investments and fraudulently raised millions of dollars by lying about their business.”
To settle, “Bitqyck, Bise and Mendez consented to final judgments agreeing to all the injunctive relief”. The company itself paid pay disgorgement, prejudgment interest and a civil penalty of $8,375,617. And the founders paid around $850,000 apiece, paying back a majority, if not all of the ill-gotten gains obtained from the operation of Bitqyck.
One of Many Cases As hinted at earlier, this is one of many recent cases the SEC has taken up against members of the cryptocurrency industry.
Earlier this month, the SEC charged ICO Rating, a Russian entity that was focused on research, reviewing, and rating initial coin offerings, for failing to disclose that some reviews were pay-for-play. The firm purportedly agreed to pay just under $270,000 to settle charges. It was also indicated that the SEC believes ICO Rating “produced research reports and ratings of blockchain-based digital assets”, including “tokens” or “coins” that were clearly securities.
A few weeks earlier, an emergency case was filed against Veritaseum, once a popular cryptocurrency project, to stop its founder and the company itself from spending the proceedings of its ICO. Similar to the case against Bitqyck, the SEC purported that Veritaseum made serious misrepresentations about its product.
The governmental agency may not be stopping any time soon, though. In a Bloomberg interview published just the other day, Chairman Jay Clayton asserted that he won’t change securities laws to accommodate cryptocurrencies. While Clayton stated that he isn’t anti-innovation, he thinks the SEC giving this industry some leeway isn’t rational.
The SEC’s commissioners are expected to rule on three Bitcoin exchange-traded fund (ETF) proposals in the coming three months. Despite all the aforementioned cases, pundits are hopeful that the SEC will finally approve a product to give institutional investors a way to invest in the industry.
Nick Chong
I am a writer who has been following the cryptocurrency space since 2013. My insights and interviews have been featured in leading publications in the industry such as LongHash, NewsBTC, and Decrypt. When I am not writing, I work as a team member of the EXODUS division of HTC, a Taiwanese electronics company. I own a small amount of Bitcoin. Contact [email protected]
On Monday evening, as many in the American crypto community were calling it a day, the U.S. Securities and Exchange Commission (SEC) made a jaw-dropping announcement.
Revealed in a press release published at around 7:00 pm EST, the American financial regulator revealed that it had “settled charges” against the creator of the EOS blockchain. Block.one, for “conducting an unregistered initial coin offering”.
This marks one of the biggest — if not the biggest — crypto-related enforcement actions from the SEC to date.
SEC Issues $24 Million Over EOS ICO According to the press release published on Monday evening, Block.one has settled charges with the SEC “by paying a $24 million civil penalty.”
The blockchain giant, which operates in Blacksburg, Virginia, and Hong Kong, “consented to the order without admitting or denying its findings”, the SEC wrote.
For those unaware, the tension between the SEC and Block.one stems from the latter entity’s year-long sale of EOS tokens that raised some $4.1 billion — a record by a long shot for an ICO.
The SEC remarked in the release that “Block.one did not register its ICO as a securities offering pursuant to the federal securities laws, nor did it qualify for or seek an exemption from the registration requirements”.
Steven Peikin, Co-Director of the SEC’s Division of Enforcement, argued that Block.One did not provide participants in the sale “the information they were entitled to as participants in a securities offering”.
He added that it is the SEC’s mission to clamp down on firms that deprived investors of material “they need to make investment decisions.”
While $24 million is obviously not a small sum of money, the sum of the settlement paid shocked crypto pundits. Nic Carter, a co-founder of Coinmetrics, noted that Block.one paid 60 basis points (0.6%) of the billions it raised in the sale — effectively nothing in the grand scheme of things.
Others echoed Carter’s concerns, drawing attention to what they claim is just a slap on the wrist, not an all-out enforcement event. Block.one, for instance, spent $30 million on a domain name earlier this year, making $24 million seem much like pocket change.
Despite these concerns over the severity (or lack thereof) of the settlement, it seems that with the $24 million fine, the case is done and dusted.
My mind is absolutely blown by this block one news.
The SEC looked into all the gory details and decided to settle for 60 bips of what b1 raised. WTF
— nic ???? carter (@nic__carter) September 30, 2019
Block.one “Excited” to Resolve Matters To the point and very blunt, the SEC release left much to be desired for, specifically in regards to a response from Block.one itself and the details of the settlement.
As such, the blockchain development firm came out with its own statements in a press release dated October 1st, 2019. In it, Block.one revealed that the settlement “relates specifically to the ERC-20 token sold on the Ethereum blockchain” during the ICO, not the new token that exists on EOS’s own chain.
It was also revealed that with this settlement, the SEC has granted Block.one “an important waiver” so that it will “not be subject to certain ongoing restrictions that would usually apply with settlements of this type”, cementing the idea that the settlement has resolved any current dispute between Block.one and the SEC.
Block.one concluded in the press statement:
“We are excited to resolve these discussions with the SEC and are committed to ongoing collaboration with regulators and policy makers as the world continues to develop more clarity around compliance frameworks for digital assets.”
More to Come… While Block.one’s case is “one and done”, it may be that the SEC isn’t done with big names in crypto just yet.
Over the past few months, the American agency has been on an absolute killing spree against the crypto space, charging firms left and right for seeming wrongdoing. Earlier this year, it went after another high-profile case, bashing Canadian social media company Kik’s $100 million dollar ICO; just a few months back, it aimed to prevent the company behind once-massive altcoin Veritaseum from spending ICO proceedings.
The fact that the SEC went after Block.one, which ran the largest ICO ever, and other top companies in the cryptocurrency sector may be a sign of impending enforcement.
Nick Chong
I am a writer who has been following the cryptocurrency space since 2013. My insights and interviews have been featured in leading publications in the industry such as LongHash, NewsBTC, and Decrypt. When I am not writing, I work as a team member of the EXODUS division of HTC, a Taiwanese electronics company. I own a small amount of Bitcoin. Contact [email protected]
Cryptocurrency exchange Binance announced that it will suspend deposits for the altcoin TROY (BSC) starting January 2, 2025. This decision was made due to a potential security issue related to the TROY-BEP20 token contract. The exchange emphasized that this action was taken to ensure user security.
Binance Ends Support on BSC NetworkBinance stated that it will no longer support TROY coin deposits through the BNB Smart Chain (BSC) network. The company mentioned that it attempted to communicate with the project team to verify the collateral situation concerning coins issued on the BSC network. However, it was emphasized that the project team did not provide adequate explanations regarding the matter.
Binance TROY (BSC) AltcoinThe cryptocurrency exchange specified that it would only resume deposits for TROY once it is deemed secure. Additionally, it was noted that no separate announcement would be made regarding this issue.
Ethereum Network Transactions UnaffectedOn the other hand, Binance announced that users can continue to deposit and withdraw TROY through the Ethereum $1,623 network. The cryptocurrency exchange indicated that these services are not affected by the aforementioned security concerns. Binance also added that it aims to contribute to the transparency and sustainable growth of the cryptocurrency ecosystem while prioritizing user safety.
Such actions in the cryptocurrency market are a continuing concern for users. Measures taken by major exchanges like Binance are significant for the reliability of the sector. Users must closely monitor such announcements and plan their transactions accordingly.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
TROY price nosedived 40% after Binance suspended deposits for its BEP20 token due to security concerns. The exchange cited issues with verifying the token’s collateral on the Smart Chain, leading to the suspension and a halt in network support. While Ethereum-based services remain unaffected, the lack of clarity from the TROY project team has fueled market uncertainty, leaving investors anxious about the token’s future stability.
TROY Price Crashes After Binance Suspends BSC Deposits On January 3, Binance announced suspension of TROY-BEP20 deposits on the Smart Chain (BSC), citing a potential security issue. The exchange stated that the decision was made to protect users, as concerns emerged about the token contract’s collateral verification. The suspension, effective January 2, has significantly impacted market sentiment, causing a sharp 40% drop in TROY price.
In its announcement, top exchange clarified that it would no longer support the token on the BSC network until the issue is resolved. The exchange is actively working with the TROY project team to verify the collateral tied to the minted tokens.
However, the top crypto exchange also noted that the project team has not provided sufficient clarification, leaving the situation unresolved. While the exchange mentioned that deposits could reopen if the token is deemed safe, no specific timeline has been offered, and further announcements are unlikely.
The suspension only affects the Binance Smart Chain, as Ethereum-based deposits and withdrawals for TROY remain functional. Despite this, the incident has raised concerns about TROY’s overall stability. Investors and market participants have criticized the lack of transparency from the TROY project team, which has further eroded confidence in the token’s reliability and long-term prospects.
How’s The Crypto Performing? TROY price was currently trading at $0.0047, marking a steep 42% decline in the last 24 hours. The token’s 24-hour low and high were recorded at $0.00357 and $0.00813, respectively. The market cap is $41 million, and the trading volume is $522 million. The price crash shows increased selling pressure and reflects growing investor panic.
Troy Trade, the platform behind the TROY token, offers a complete solution for crypto trading and asset management. It provides services like spot trading, margin trading, and liquidity aggregation. The platform simplifies trading for both institutional and individual users. However, the ongoing security concerns and suspension of BSC deposits have cast a shadow on its reputation.
Binance has a track record of influencing market dynamics with its decisions. The delisting of WazirX (WRX) caused a 50% price crash. This highlights the significant impact of the leading crypto exchange’s actions on the broader market.
A 71-year-old digital artist in India fell victim to scammers pretending to be an NFT art dealer.
According to a local report, Shivaprasad R (name changed), a practicing chartered accountant (CA), lost INR 1.58 lakhs (approximately $1895) in fees to the scammers who promised to buy out his art.
Shivaprasad is a professional artist whose work has been featured in several local exhibitions and posted on Instagram and Facebook. In October 2023, the scammers, claiming to be an “NFT art dealer,” introduced the artist to a platform dubbed nfttradeplace.com.
The scammer told the victim that they would like to purchase his paintings for 42 ETH, or INR 1.09 crore, a significant sum in India. The negotiations were all held virtually, via email and Facebook.
The digital artist took up the offer and listed three of his artworks for 10 ETH and another one for 12 ETH. On February 1, 2024, the victim was asked to pay 0.115 ETH to the scammer’s platform as a “gas fee.”
“The victim made the payment from his crypto wallet, which he set up at the scammer’s behest,” a cybercrime investigator was quoted saying.
Following the completion of his first sale, the artist requested a withdrawal of 6 ETH from his earnings. However, despite waiting for days, no transaction was initiated. Upon checking again, Shivaprasad was asked to pay a “delay fee” for supposedly holding up the withdrawal of his cryptocurrency.
“This delay fee was never discussed nor was it exhibited on the website,” the victim said in a statement.
He added that since he wasn’t in possession of any ETH, he had requested the scammers to accept the delay fees in fiat currency. The scammers agreed to this request, and the victim went on to make four payments to the accounts of Mohammed Ekramul Haque and Mohammad Farooq. It has not been confirmed whether these people are the masterminds behind this scam.
Shivaprasad made the last payment to the scammers on March 15. He noted that the platform “kept asking [him] for further payments” to be able to withdraw his 6 ETH.
This was when the victim realized that his NFT clients had duped him. On April 17, the victim contacted the cyber police and filed charges under 66C (punishment for identity theft) and 66D (punishment for cheating by personation by using computer resources) of the Information Technology (IT) Act and 420 (cheating and dishonestly inducing delivery of property) of the Indian Penal Code (IPC).
“It is highly difficult to trace cryptocurrency trails. As of now, bank details and domain details of the email address used by the scammers have been sought,” an officer familiar with the matter said.
Cryptocurrency scams have seen a significant uptick in India, despite crackdowns from local authorities. Last week, the nation’s Enforcement Directorate (ED) launched an investigation into a $800 million Ponzi scheme involving a Bollywood celebrity.
Prior to that, a job recruitment scam was flagged in the nation, which saw scammers draining their victims’ crypto wallets using spyware disguised as applications touted as essential for the onboarding process.
Hyperliquid has overtaken Solana on a fully diluted valuation basis, according to Arkham, adding a new market marker to one of crypto’s most closely watched comparisons: the rise of application-heavy, revenue-generating chains.
Arkham summarized the move directly on X, writing: “Hyperliquid has flipped Solana by FDV.” The accompanying Solana market page shows SOL trading around $86.51, with a fully diluted valuation of roughly $54.22 billion, a circulating market capitalization near $49.99 billion and 24-hour volume of about $2.74 billion. The same screen listed Solana’s current supply at 577.86 million SOL and max supply at 626.75 million SOL.
On Arkham’s Hyperliquid page, HYPE was shown trading at $56.71, giving the network a fully diluted valuation of about $54.57 billion. That puts it slightly above the Solana FDV shown in Arkham’s Solana screenshot, at roughly $54.22 billion. The comparison is notable because Hyperliquid’s circulating market capitalization was much smaller, at about $13.28 billion, reflecting a current supply of 238.39 million HYPE against a max supply of 962.27 million. Arkham also showed 24-hour HYPE volume of roughly $1.20 billion, with the token trading near its listed all-time high of $59.30.
Hyperliquid has flipped Solana by FDV. pic.twitter.com/rDF5FRg4TK
— Arkham (@arkham) May 21, 2026
Hyperliquid And Solana Lead All ‘Revenue Chains’ The FDV flip comes as Hyperliquid has also been showing up at the top of crypto revenue rankings. In post on X, Bitwise CEO Hunter Horsley lists Hyperliquid with $790.55 million in total revenue, ahead of Solana at $532.34 million. TRON followed at $471.20 million, while Ethereum was shown at $425.56 million.
Horsley framed the comparison less as a zero-sum fight between HYPE and SOL and more as evidence of a broader category emerging inside crypto.
“There’s a new class in crypto: the revenue chains,” Horsley wrote. “The leaders are Hyperliquid & Solana. Both do some overlapping things, and some different things. Both have exceptional communities, usage, use cases, etc.”
That framing matters because the Hyperliquid-Solana comparison is not purely about market capitalization. It is also about where users, liquidity and trading activity are concentrating. Hyperliquid’s revenue profile has become central to the HYPE thesis, while Solana remains one of the largest high-throughput ecosystems in crypto, with broad activity across trading, DeFi, consumer applications and token issuance.
Horsley argued that both networks are positioned around the same structural tailwind: capital markets moving onchain. “I think that both will rise together, just as iOS and Android both rode the structural adoption of mobile,” he wrote. “In the case of the revenue chains, they are riding the wave of capital markets coming onchain.”
Solana Camp Downplays Rivalry Solana co-founder Anatoly Yakovenko also pushed back against the idea that Hyperliquid’s rise should be treated as a threat to Solana’s roadmap. Responding to a post about Hyperliquid, Yakovenko wrote: “I am not worried about someone else succeeding. Whether hype succeeds or not isn’t going to change what I or the rest of the Solana ecosystem will be working on.”
Yakovenko once again presented Solana-based Phoenix Trade as a better version of Hyperliquid: “Try Phoenix Trade my HL brother.”
Meanwhile, Horsley highlighted the success of both. “If you are rooting for HYPE or SOL or both, success will be less about the competition between the two — healthy ofc — but rather the rise of onchain capital markets,” he wrote. “Root for capital markets coming onchain.”
At press time, HYPE traded at $58.354.
HYPE approaches it September 2025-high, 1-week chart | Source: HYPEUSDT on TradingView.com Featured image created with DALL.E, chart from TradingView.com
This was supposed to be the good-news day. The US-Iran peace deal is signed, oil is down 9%, and the war that crushed crypto in May is officially over. Yet Bitcoin is sliding below $63,000 and the week’s bounce is fading. The reason is simple and a little uncomfortable: one hawkish Fed meeting is outweighing a peace deal. Here is what’s happening with BTC and ETH, and the bigger question now hanging over the market.
Bitcoin is trading near $62,547 on June 19, 2026, down about 0.3% on the day and roughly 2.9% over the week, slipping below the $63,000 level (live prices on CoinGecko). Ethereum sits near $1,693, down about 0.1% on the day but still up around 1.8% on the week, continuing to hold up better than Bitcoin. BTC’s market cap is around $1.25 trillion, ETH’s near $204.5 billion.
The strange part is the backdrop. This should be a risk-on day, and instead crypto is drifting lower. Here is why.
Good news that isn’t moving the market The US-Iran peace deal was formally signed today, June 19, in Switzerland. President Trump authorized reopening the Strait of Hormuz, the naval blockade is lifted, and oil prices have fallen about 9%. Lower oil is disinflationary, which in theory eases the pressure on the Fed and helps risk assets like crypto.
So why is Bitcoin falling? Because the market has already moved on. The peace deal was telegraphed for days and is now priced in, a classic “buy the rumor, sell the news” outcome. More importantly, investors are rotating attention toward stocks and away from crypto, and the one thing dominating sentiment is not Iran. It is the Fed.
The Fed is still the story Wednesday’s FOMC meeting continues to cast a long shadow. The Fed held rates but delivered a hawkish dot plot: nine of 18 officials now project a 2026 rate hike, the year-end median jumped to 3.8%, and new Chair Kevin Warsh scrapped forward guidance entirely. The message was that rate cuts are off the table for 2026, possibly until 2027 or later.
That hawkish reality is now outweighing the Iran relief. Analysts at Marex describe crypto positioning as “defensive and thin” after the Fed, meaning traders are cautious and trading volume is light. In a thin market, prices drift, and right now they are drifting down. The peace deal removed a headwind, but the Fed added a bigger one, and the Fed is winning.
Why Ethereum is still holding up better The one bright spot remains Ethereum’s relative strength. ETH is up about 1.8% on the week while Bitcoin is down 2.9%, continuing a divergence that has held through the week.
ETH’s resilience comes from its own demand drivers: treasury firms like BitMine accumulating aggressively, ETF inflows returning, and the Glamsterdam upgrade on track for the second half of 2026. There is also the rotation question. After months of rising Bitcoin dominance during the crash, some capital appears to be rotating toward Ethereum, which historically leads when altcoins start to recover. Whether that continues is tied to the biggest question now facing the market.
The big question: will there be an altseason at all? Here is what traders are really debating after this week. With oil down, the Iran deal signed, and the macro picture clearing in some ways but tightening in others, the question is whether this cycle delivers an “altseason,” the period when altcoins outperform Bitcoin, at all.
The case against: a hawkish Fed, high rates, and rising Bitcoin dominance all delay altseason. Capital concentrates in Bitcoin during uncertainty, starving altcoins. The case for: Ethereum’s relative strength this week, returning ETF inflows, and structural institutional interest in ETH and other majors are the early ingredients of a rotation. ETH leading on the week is exactly what the start of an altseason looks like. The honest answer is that it is unresolved, and the next few weeks of Fed signals and dominance trends will decide it.
BTC and ETH: Key Levels to Watch Bitcoin: $62,000 is the immediate support, with the critical $60,000 floor below it that has held three times. On the upside, reclaiming $64,350 and then $66,000 would revive the bounce. A break of $60,000 would be a serious bearish signal.
Ethereum: $1,650 is the key support analysts are watching, with $1,600 below it. On the upside, ETH needs to reclaim $1,800 and then $2,000 to confirm its relative strength is turning into real leadership.
Bottom line Bitcoin at $62,547 and Ethereum at $1,693 are drifting lower as the week’s bounce fades, with a signed Iran peace deal failing to override the hawkish Fed. The macro tug-of-war is clear: geopolitical relief on one side, tighter-for-longer monetary policy on the other, and right now the Fed is winning.
Ethereum’s continued relative strength is the one encouraging signal, and it ties directly to the question of whether an altseason is coming. Watch Bitcoin’s $60,000 floor and Ethereum’s $1,800 resistance. Those two levels, plus the next round of Fed signals, will decide whether this fade is a pause or the start of another leg down.
FAQ What is the Bitcoin price today?
Bitcoin is trading near $62,547 on June 19, 2026, down about 0.3% on the day and 2.9% on the week, slipping below $63,000 as the week’s bounce fades despite the signed Iran peace deal.
What is the Ethereum price today?
Ethereum is trading near $1,693 on June 19, 2026, down about 0.1% on the day but up roughly 1.8% on the week, continuing to outperform Bitcoin.
Why is crypto falling despite the Iran peace deal?
The peace deal was priced in ahead of the June 19 signing, a “sell the news” outcome. More importantly, Wednesday’s hawkish Fed meeting, which signaled possible 2026 rate hikes, is outweighing the geopolitical relief and keeping crypto positioning defensive.
Why is Ethereum outperforming Bitcoin?
Ethereum benefits from aggressive treasury accumulation by firms like BitMine, returning ETF inflows, the upcoming Glamsterdam upgrade, and a rotation of capital toward ETH as Bitcoin dominance potentially peaks, an early sign of possible altcoin strength.
Will there be an altseason in 2026?
It is unresolved. A hawkish Fed and rising Bitcoin dominance delay altseason, but Ethereum’s relative strength, returning ETF inflows, and structural institutional interest are early ingredients of a rotation. The next few weeks of Fed signals and dominance trends will decide it.
What are the key levels for BTC and ETH?
Bitcoin support is $62,000 then the critical $60,000 floor, with resistance at $64,350 and $66,000. Ethereum support is $1,650, with resistance at $1,800 and the key $2,000 level.
This is not investment advice. Cryptocurrency is highly volatile. Always do your own research and never invest more than you can afford to lose.
Compound, the builders behind one of the most popular decentralized finance apps on Ethereum, just raised an impressive $25 million war chest in a Series A fundraising round that was backed by some of the cryptocurrency arena’s biggest investors.
Revealed on November 14th, the Series A raise saw venture capital firms like Andreesen Horowitz (a16z), Polychain Capital, Paradigm, and Bain Capital Ventures, throw a new round of chips behind the promise of the DeFi app’s future and growing ecosystem. a16z was the raise’s largest investor, although at an unspecified sum.
With the new funding secured, Compound chief executive officer Robert Leshner told Fortune that the name of the name going forward will be making the project’s crypto lending services readily usable by mainstream, non-tech users. As a step in that direction, Leshner said the DeFi protocol will be integrated with other major cryptocurrency companies, e.g. Coinbase, by the end of next year .
And while the Compound team is the main driving force behind its associated dApp, the company plans to continue phasing out their direct stewardship in favor of a more decentralized governance process. To that end, Leshner said:
“As with Bitcoin, we want to ensure that no one, including the company that built it, can exert undue influence on Compound’s protocol. Corporations come and go but we want to build a protocol that lasts forever.”
Of course, lasting forever is a big aim; but that Compound will last a long time already seems clear considering all the other rising Ethereum DeFi “money lego” projects that are currently relying on Compound’s open infrastructure.
Take the example of InstaDapp, which recently raised its own seed round of $2.4 million on the appeal of its automated “bridge” for crypto lenders wanting to move positions between Compound and Maker and vice versa. For context, both Maker and Compound are currently in the top three DeFi projects per value locked within their protocols according to tracker site DeFi Pulse.
a16z: a Big DeFi Believer Both in word and in deed, powerhouse private venture capital firm a16z has been betting big on DeFi.
First, the firm made waves last fall when its crypto arm conducted a “strategic purchase” of MakerDAO’s MKR governance token, which is used to guide the growth of the popular Dai stablecoin. In spending $15 million on the acquisition, a16z bought up six percent of the entire MKR supply at the time.
The VC firm also created a buzz last month when it bought up $235,000 worth of SNX, the associated token of Synthetix, another current top 3 DeFi project per DeFi Pulse that lets users create synthetic assets on Ethereum.
Now with a16z’s investment in the Compound team, the company has completed the “skin in the game” trifecta where decentralized finance’s biggest fledgling projects are concerned. On the news of Compound’s Series A raise, general partner Chris Dixon hailed the project as poised to achieve:
“Compound is a lending protocol that is open to anyone in the world, that disintermediates banks and allows anyone to earn interest on their money. We’ve worked with Robert [Leshner] and his team for over two years and think they are world class technologists and entrepreneurs.”
But a16z isn’t just content to back the promising DeFi projects of today, as the firm is also interested in fostering the next waves of innovation in the sector. Last week, the company unveiled its new Crypto Startup School (CSS), a seven week educational program for crypto startup founders.
“We think that sharing the most important lessons we’ve learned could accelerate the development of existing projects, and inspire more talented people to join the space,” Chris Dixon said of the program.
William M. Peaster
William M. Peaster is a professional writer and editor who specializes in the Ethereum, Dai, and Bitcoin beats in the cryptoeconomy. He's appeared in Blockonomi, Binance Academy, Bitsonline, and more. He enjoys tracking smart contracts, DAOs, dApps, and the Lightning Network. He's learning Solidity, too! Contact him on Telegram at @wmpeaster
PancakeSwap, a well-known DEX, partners with Stryke (once Dopex) to accommodate the first-in-class CLAMM Options Trading. This joint initiative the next step for DeFi, as it brings for the first time options trading to the Ethereum sidechain. by providing the domestic options traders with some A-CLAMM formats, will be able to take advantage of numerous flexibility and possibilities the market offers.
PancakeSwap and Stryke CLAMM options trading CLAMM Options Trading, a freshly introduced type of decentralized finance (DeFi) trading that has the SDT options, is all set to make change in the DeFi trading landscape by offering American style options with expirations ranging from one-hour to 24 hours.
⚡Stryke integrates with @PancakeSwap
This provides PancakeSwap users with direct access to our CLAMM product on an interface they are familiar with. Existing Stryke users gain deeper liquidity by selecting PancakeSwap as the underlying DEX.
Try it here:… pic.twitter.com/WXbws3hZK7
— Stryke ⚡ (@stryke_xyz) April 8, 2024 Such a forward-looking solution, by targeting diverse segments of the trading and investment settings, is designed with the first markets ARB/USDC, WETH/USDC, and WBTC/USDC being considered as well. American style options, famous for their attenuation, provide a single chance to execute the contract as soon as it occurs to the holder, and if he wishes, to take advantage of the volatile situation and to exit the market.
Derivatives mainly include two types of options, which are the financial derivatives that provide buyers with the right, but not the duty, to buy or sell an underlying asset at a previously assigned price until an announced date.
This facilitates the buyers to protect themselves against potential losses to the money paid for the option by setting the upper level of losses at the level of the premium. This puts the option in a very valuable spot for managing financial risk.
The coupling between the PancakeSwap and the Strike online platform provides a new platform wherein user’s could perform options trading, on-chain options liquidity provision, colleting premiums, and earning swap fees.
Revolutionizing DeFi By the partnership, an innovation of liquidity model of CLAMM options trading is also revealed as the outcome. Psychician swaps offer liquidity to CLAMM option, in turn making pancake swap version 3 (v3) pool. This reduces trading transactions it enables liquidity to be extracted by making a v3 pool of the options when purchased, where liquidity provider provides options for sale and receives premiums.
This arrangement guarantees that the v3 pool will hold any extra sources that have not been traded and that the trade fees are being collected as long as the pool rates remain within a range correlating to the market if the pool rate rises above the upper point.
This inventive liquidity procedure in turn makes option selling users minimize their risks, the payoff system of v3 liquidity with selling is resonate. Therefore, in this process, participants’ risks are not higher than with a classical liquidity provision in the financial market.
The method also takes care of liquidity handling efficiently so that the balance of tokens or initial liquidity can be kept consistent without possessing high risk associated with both unresponsive buy support from options buyers and liquidity range pockets.
Pioneering CLAMM options to transform DeFi trading landscape Pancakeswap and Stryke’s partnership is a whistleblower in the DeFi environment because it offers the much-needed product called CLAMM on a familiar interface to be used by PancakeSwap users. Moreover, the current Stryke users’ benefits will be made deeper by their capacity to do choose PancakeSwap from initial DEX when settling transactions.
This partnership does not only boost the current options trading market within DeFi but most importantly, it depicts an imperative move taking PancakeSwap’s v3 token pool to new digital frontier through hard working team of developers.
With the open-source framework for DeFi (Decentralized Financial) ecosystem still evolving, the emergence of CLAMM Options Trading by PancakeSwap and Stryke is bound to be a turning point of DeFi in terms of future evolution of decentralized trading.
This cooperation reveals opportunities for partnerships as well as bestows professionals, investors and halvers with new tools to cope with the volatile digital asset ecology. Flexibility, liquidity and efficiency are the smartest words to describe CLAMM Options Trading. It will make DeFi feature invsestin real time, what makes DeFi a preferred toolset by users who would like to try new strategies and opportunities.
