Track market-moving stories before they get noisy

TLDR: TRON DAO joined DC Blockchain Summit 2026 as a Diamond Sponsor, engaging policymakers on digital asset regulation. Justin Sun delivered a keynote on building unified financial infrastructure combining blockchain and traditional finance. TRON DAO’s Adrian Wall moderated a session on U.S. crypto regulatory clarity alongside Representative Dusty Johnson. TRON DAO hosted a VIP Lounge at Capital Turnaround, creating space for direct policy and ecosystem conversations. TRON DAO joined the DC Blockchain Summit 2026 as a Diamond Sponsor in Washington, D.C. The Digital Chamber hosted the event on March 17–18, drawing policymakers, regulators, and industry leaders.

Discussions covered blockchain regulation, digital assets, and the future of financial infrastructure. TRON DAO used the platform to advance policy dialogue and present ecosystem developments.

The summit marked another step in the organization’s ongoing engagement with U.S. regulatory conversations.

Justin Sun Outlines a Blueprint for a Unified Financial System Justin Sun, Founder of TRON, delivered a keynote on the Main Stage at the summit. The address was titled “Building the Rails for a Unified Financial System.”

Sun described TRON as a foundational settlement layer for the global digital economy. He also positioned the network as infrastructure suited for supporting Agentic AI payments.

Sun stressed that collaboration between traditional finance and emerging technology sectors is essential. He said this cooperation is key to building a unified and interoperable digital asset ecosystem.

The keynote drew attention from policymakers and industry leaders throughout the two-day event. It reinforced TRON’s standing as a meaningful contributor to global financial infrastructure.

TRON participated as a Diamond Sponsor at the DC Blockchain Summit 2026, highlighting its ongoing engagement in policy discussions shaping the digital asset ecosystem.

Hosted by @DigitalChamber in Washington, D.C. on March 17–18, the summit brought together policymakers,… pic.twitter.com/okw2rMXmvU

— TRON DAO (@trondao) March 21, 2026

Sun pointed to the U.S. as a market with a well-established financial infrastructure. He argued that blockchain and AI can help expand such systems into more open digital environments.

“In markets like the US, where financial infrastructure is already strong and well established, blockchain and AI can help expand that system into a more open and programmable digital environment,” Sun said. His remarks reflected the growing convergence of traditional and decentralized financial networks.

Sun further noted that creating the right infrastructure remains the most pressing challenge ahead. He emphasized that a unified financial system must bring together the best of both worlds.

“As we look ahead, the most important challenge is building the infrastructure that allows all parts of the financial system to work together,” he stated.

“A unified financial system will combine the strengths of traditional finance with the openness and efficiency of blockchain networks.”

TRON DAO Shapes Policy Dialogue Through Sessions and On-Site Engagement Adrian Wall, Senior Director of U.S. Policy at TRON DAO, moderated a key Main Stage session. The session, titled “CLARITY: What It Took and What Comes Next,” examined key regulatory milestones.

It covered recent legislative developments shaping the digital asset landscape across the United States. Wall was joined by Dusty Johnson, U.S. Representative for South Dakota (R-SD).

The session gave attendees a direct look at the current U.S. digital asset regulatory environment. Both speakers addressed recent legislative progress and outlined what still lies ahead for the industry.

Their exchange reflected ongoing efforts to establish greater regulatory clarity in the crypto space. The discussion added a policy-driven perspective to the broader summit agenda.

TRON DAO also hosted a dedicated VIP Lounge at Capital Turnaround across both days of the summit. The lounge served as a central hub for industry leaders, policymakers, and community members.

Conversations covered TRON’s ecosystem developments, policy initiatives, and the evolving regulatory landscape. The setting allowed for direct engagement beyond the formal conference sessions.

As shared across TRON DAO’s official channels, its Diamond Sponsorship reflected a firm commitment to active policy engagement.

The organization continues to work alongside governments and institutions toward a more open financial system. TRON DAO remains focused on responsible blockchain innovation and constructive collaboration with regulators.

Its presence at the summit reflected a consistent and ongoing strategy to support the future of digital assets.

PANews reported on April 8th that MEET48 has officially become a Diamond Sponsor of the Hong Kong Web3 Festival. This year's Hong Kong Web3 Festival, co-organized by Wanxiang Blockchain Labs and HashKey Group, will be held from April 20th to 23rd at the Hong Kong Convention and Exhibition Centre (HKCEC). Since 2023, it has become Asia's leading crypto industry event, attracting over 100,000 participants and 350 exhibitors.

As the world's first idol fan economy ecosystem with Web3 as its underlying architecture and deep integration of AI and UGC, MEET48 is building a platform focused on virtual idols and AI-Web5 entertainment.

Previously, MEET48 launched an IDOL token staking program on BNB Chain: from March 19, 2026 to April 18, 2026, users could lock up their IDOL tokens on BNB Chain for 90 days and receive their principal plus a 40% annualized return (APR) after the lock-up period. The program page is now available on the MEET48 website.

The analyst put $1.50 as the trigger: a monthly close above it opens the path to $2.20 and validates the entire setup; failure invalidates it.

XRP is back in the spotlight after a new technical analysis posted on May 4 by EGRAG Crypto claimed a rare “macro diamond” pattern could send the token as high as $183 to $300 over time.

The analysis has gained traction in the XRP community at a moment when the token is struggling to hold above $1.40, and its ETF products are only just beginning to recover from a period of net outflows.

The Diamond Structure and What EGRAG Is Actually Claiming In a post shared on X, EGRAG Crypto argued that XRP is not forming a random structure but a large-scale diamond pattern on the monthly chart, with timing playing a central role. According to the analyst, “price meets time” at specific intersection points, which could dictate when major moves unfold rather than just where price goes.

Per their assessment, $1.50 is the near-term trigger, with a monthly close above that level opening the path to $2.20 and validating the bullish setup, while failure to hold the structure would invalidate it. They outlined two “critical” time windows in April 2027 and April 2028, which they believe could match up with the larger cycle expansions.

The first sequence would see XRP go from $7, $16, $36, $80, and finally $183, while the second, slightly different path aims for $5, $11.50, $24.50, $60, $135, and $300. Recall that the Ripple token managed to snap a 6-month run of losses in April, with even spot XRP ETFs recording their highest inflows in four months.

However, a look at the price charts shows that the asset has barely moved. At the time of writing, it was trading at around $1.40, up less than 1% in the last day and down about 1.4% on the week. Therefore, hitting EGRAG’s upper target of $300 would require XRP to go up at least 200X, with even the more conservative $7 target needing a 5X jump from here, so it’s worth keeping those numbers in perspective.

Market Structure Tells a More Cautious Story The broader technical picture painted by other market watchers is more grounded, with analyst ChartNerd, in a video posted around the same time, pointing to Fibonacci extension levels at $8, $13, and $27 as realistic cycle targets.

You may also like: XRP’s Price Could Explode to $8, But This One Zone Is Holding It Back 5 Reasons Why Bitcoin Just Crashed Below $63K as Liquidations Top $500M XRP’s Biggest Warning Sign Is Still Flashing Despite Easing Whale Activity However, he thinks XRP may first drop to a base somewhere between 70 and 90 cents. “History tells us these deep pullbacks happen first,” ChartNerd said, noting that every major XRP rally since inception has only come after a retest of ascending support levels.

A potential base in 2026 followed by a recovery would still represent a meaningful move from current prices, even if it lands well short of EGRAG’s upper projections.

Whatever the longer-term trajectory, short-term market structure data offer some support for a gradual recovery. An analysis posted Monday by trader CW8900 noted that despite a brief dip triggered by unconfirmed reports of Iranian missile activity near a US warship (later denied by a senior US official), bearish pressure in XRP remained minimal.

“There is almost no increase in bearish bets,” CW wrote, adding that the upward momentum was continuing to build.

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KEY TAKEAWAYS

DAO communities collectively manage billions in treasury assets, with Arbitrum DAO alone holding over 3.5 billion ARB tokens through on-chain governance mechanisms. Whale dominance remains a critical challenge, with 1% of token holders controlling 90% of voting power across the major DAO projects studied. Quadratic voting and reputation-based systems are gaining traction as experimental governance solutions to reduce concentrated voting power in DAO community structures. Some crucial DAO governance votes see less than 10 percent of token holders participating, undermining the decentralized decision-making model DAOs are designed for. Artificial intelligence tools are beginning to automate routine DAO governance tasks while maintaining human oversight through circuit-breaker safety mechanisms. Decentralized Autonomous Organizations have moved beyond their initial proof-of-concept stage into a period of active governance experimentation. The concept of DAOs, which use smart contracts and blockchain technology to enable community-driven decision-making without centralized authority, has attracted growing attention from crypto communities exploring alternatives to traditional organizational hierarchies. 

Diamond DAO, described on CoinMarketCap as an ecosystem of protocols designed to collect the most valuable assets in DeFi, is one example of how communities are structuring governance around asset accumulation and the distribution of voting power.

The Scale of DAO Governance in 2026 The DAO ecosystem has grown to encompass billions of dollars in treasury assets managed through on-chain governance mechanisms.

According to Webopedia’s analysis of the largest DAOs in 2026, Arbitrum DAO held over 3.5 billion ARB tokens in treasury assets in 2025, making it one of the most well-funded decentralized organizations in the Ethereum ecosystem. Uniswap DAO rolled out its fourth protocol iteration with customizable liquidity hooks, while Aave DAO continues to govern the decentralized lending market.

These figures indicate that DAO governance is no longer an abstract concept but a functioning mechanism controlling significant financial resources.

Platform analytics provider DeepDAO maintains what it describes as the largest verified directory of DAO contributors, tracking treasury movements, governance proposals, membership dynamics, and voting patterns across multiple blockchains, including Ethereum, Polygon, Arbitrum, Optimism, and Gnosis Chain.

Persistent Governance Challenges Despite their growth, DAO communities continue to grapple with fundamental governance challenges. The most prominent issue is whale dominance, where a small number of large token holders can control voting outcomes. 

Data from Chainalysis previously found that just 1 percent of all holders controlled 90 percent of the voting power across 10 major DAO projects. A 2026 report from the Blockchain Research Institute indicated that some crucial governance votes saw fewer than 10 percent of token holders participate, as reported by The Currency Analytics.

Voter apathy compounds the whale dominance problem. As Chainlink’s governance analysis notes, many token holders view their assets strictly as utility or value-transfer mechanisms and choose not to participate in governance decisions.

This low engagement results in proposals passing or failing based on a fraction of the total circulating supply, undermining the decentralized ethos that DAOs are designed to promote and uphold.

Experimental Solutions Gaining Traction To address these challenges, DAO communities are exploring governance models that move beyond simple token-weighted voting. Quadratic voting, which exponentially increases the cost of additional votes, has gained traction as a mechanism to reduce whale influence.

Under this system, the first vote costs one unit, the second costs four units, and the third costs nine units, making it prohibitively expensive for large holders to unilaterally dominate voting outcomes in governance proposals.

Reputation-based governance systems represent another experimental approach. Rather than tying voting power exclusively to token holdings, these models incorporate participant contributions, expertise, and historical engagement into governance weight calculations. 

According to research published in Frontiers in Blockchain, combining quadratic voting with vote-escrowed tokens may better balance fairness and strategic resistance, though reducing whale influence can simultaneously make collusion easier among coordinated minority groups.

Delegation systems have also become widespread, with platforms like Tally and Agora making it straightforward for token holders to assign voting power to trusted representatives. Snapshot now processes 96 percent of major DAO votes, while Safe secures over $22 billion in treasury assets.

However, delegation introduces its own centralization risks, as a small number of highly engaged delegates can accumulate disproportionate influence over time.

AI Integration in DAO Governance Artificial intelligence is beginning to play a role in DAO governance operations. AI tools can handle routine tasks like treasury rebalancing and proposal summarization, reducing the operational burden on community members.

Most advanced DAOs implementing AI governance assistance use circuit breakers that automatically pause AI actions if they exceed predefined safety limits, ensuring that human oversight remains active over strategic governance decisions.

The integration of AI into governance represents a pragmatic response to coordination challenges facing large DAOs. As organizations scale to manage billions in assets across global communities, the administrative complexity of governance increases proportionally, making automated assistance for routine functions increasingly practical and necessary.

The DMD Diamond Approach to On-Chain Governance DMD Diamond, a community-driven blockchain founded in 2013, illustrates how some projects are implementing on-chain governance as a core protocol feature. The DMD v4 upgrade launched with on-chain governance, fast transaction times, and what the project describes as the first blockchain using cooperative HBBFT consensus supplemented by dPOS-based validator election.

For 2026, the project plans additional services, including a DAO generator tool enabling third-party projects to establish their own DAOs on the DMD Diamond blockchain, with future development priorities determined through community voting and participation.

FAQs What is a DAO?
A Decentralized Autonomous Organization uses smart contracts and blockchain to enable community-driven decision-making without centralized authority or traditional hierarchical management structures.

What is Diamond DAO?
Diamond DAO is an ecosystem of protocols designed to collect valuable DeFi assets, including reserve currencies, tokens backing powerful DAOs, and governance voting power.

What is whale dominance in DAO governance?
Whale dominance occurs when a small number of large token holders control governance voting outcomes, undermining the democratic principles that DAO structures aim to uphold.

How does quadratic voting work in DAOs?
Quadratic voting exponentially increases the cost of additional votes, making it prohibitively expensive for wealthy participants to dominate while preserving the smaller holders’ voices.

What is voter apathy in DAOs?
Voter apathy refers to low participation rates in DAO governance votes, with some critical proposals attracting fewer than 10 percent of eligible token holders.

How are DAOs using artificial intelligence?
DAOs are using AI for routine governance tasks such as treasury rebalancing and proposal summarization, with circuit breakers ensuring human oversight of strategic community decisions.

What platforms support DAO governance activities?
Major DAO governance platforms include Snapshot for voting, Tally and Agora for delegation, Safe for treasury management, and DeepDAO for governance analytics.

References Webopedia – 10 Biggest DAOs in 2026: State of the Industry The Currency Analytics – Crypto Governance Systems Face Major Overhaul as Token Voting Crumbles Frontiers in Blockchain – Editorial: DAO, Governance and Fairness DMD Diamond – Scarce, Secure, Decentralized

PANews, June 22 – According to a report by Cailian Press, the market experienced a volatile rebound, with a clear divergence between the yellow and white lines, and heavyweight stocks showing relatively strong performance. The combined trading volume of the Shanghai and Shenzhen stock exchanges reached 3.74 trillion yuan, the second highest in history, an increase of 427.1 billion yuan compared to the previous trading day. On the market, hot spots rotated rapidly, with over 2,900 stocks rising across the entire market. By sector, the broader financial sector surged, with GF Securities, Changjiang Securities, China Securities, and New China Life hitting the daily limit up. The non-ferrous metals · zirconium concept continued its strong momentum, with Changyu Group achieving 4 boards in 5 days, Aidite and Orient Zirconic hitting 2 consecutive boards, and Triumph Science & Technology achieving 2 boards in 3 days. The lab-grown diamond concept strengthened, with Power Diamond and SF Diamond hitting the 20% daily limit up, and Huanghe Whirlwind also hitting the limit up. The chemical sector saw unusual upward movement, with Yuntianhua, Liuguo Chemical, and Chengxing Chemical hitting the daily limit up. On the downside, the semiconductor equipment sector fluctuated and pulled back, with Wavelength Opto-Electronic, Forecam Optics, and Qiangyi Co. all declining. At the close, the Shanghai Composite Index rose 1.78%, the Shenzhen Component Index rose 2.13%, and the ChiNext Index rose 2.52%.

Radiant Hacker Deposits 5,411.8 $ETH into Tornado Cash Service

Hacker at Radiant Capital Moves 5,400 ETH to Tornado Cash, Reports PeckShield

Rubio: US and Iran to continue technical consultations at the end of this month

Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)

6 hours ago

Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.

According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.

6 hours ago

Bitcoin falls below $60,000

According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.

6 hours ago

US Treasury Secretary: AI boom may boost productivity and help curb inflation.

US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.

6 hours ago

US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.

According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.

6 hours ago

During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.

According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.

6 hours ago

Rubio: US and Iran to continue technical consultations at the end of this month

Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)

6 hours ago

Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.

According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.

6 hours ago

Bitcoin falls below $60,000

According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.

6 hours ago

US Treasury Secretary: AI boom may boost productivity and help curb inflation.

US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.

6 hours ago

US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.

According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.

6 hours ago

During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.

According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.

6 hours ago

Drift Protocol said the April 1 attack on its platform followed months of planning and social engineering. 

Summary

Drift said attackers spent six months building trust before using malicious tools to breach contributor devices. The exchange linked the exploit with medium-high confidence to actors behind Radiant Capital’s October 2024 hack. Drift said repeated in-person contact at crypto events helped attackers study contributors and gain access. The decentralized exchange linked the case to a group that spent time building trust with contributors before sending malicious tools and links. External estimates put the loss at about $280 million.

Drift Protocol said its early review found a long and organized campaign against the platform. The team said the attackers showed “organizational backing, resources, and months of deliberate preparation” during the operation.

The exchange said the contact began around October 2025. According to Drift, people posing as members of a quantitative trading firm approached contributors at a major crypto conference and claimed they wanted to integrate with the protocol.

In-person meetings built trust over time Drift said the group kept meeting contributors at several industry events over the next six months. The team said the people involved were technically skilled, knew how Drift worked, and appeared to have real professional backgrounds.

That steady contact helped the group gain trust. Drift said the attackers later used malicious links and tools shared with contributors to compromise devices, carry out the exploit, and remove traces of their activity after the breach.

In addition, Drift said it has “medium-high confidence” that the same actors behind the October 2024 Radiant Capital hack carried out this exploit. That earlier attack caused losses of about $58 million and also involved malware used to gain access to internal systems.

Radiant Capital said in December 2024 that a North Korea-aligned hacker posed as a former contractor and sent malware through Telegram. Radiant said “this ZIP file” later spread among developers for feedback and opened the way for the intrusion.

Drift warns conferences can become attack targets Drift said the people who met contributors in person “were not North Korean nationals.” At the same time, the team said DPRK-linked threat actors often use third-party intermediaries for face-to-face contact and relationship building.

The exchange said it is now working with law enforcement and other crypto industry participants to build a full record of the April 1 attack. 

The case has also added a fresh warning for crypto firms, as conferences and in-person meetings can give threat groups a chance to study teams, build trust, and prepare later attacks.

Rubio: US and Iran to continue technical consultations at the end of this month

Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)

6 hours ago

Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.

According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.

6 hours ago

Bitcoin falls below $60,000

According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.

6 hours ago

US Treasury Secretary: AI boom may boost productivity and help curb inflation.

US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.

6 hours ago

US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.

According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.

6 hours ago

During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.

According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.

6 hours ago

Rubio: US and Iran to continue technical consultations at the end of this month

Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)

6 hours ago

Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.

According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.

6 hours ago

Bitcoin falls below $60,000

According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.

6 hours ago

US Treasury Secretary: AI boom may boost productivity and help curb inflation.

US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.

6 hours ago

US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.

According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.

6 hours ago

During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.

According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.

6 hours ago

Radiant Capital, a crypto lending protocol, has announced it will gradually wind down operations after losing $50 million in an attack linked to North Korea in October 2024. The platform stated it no longer sees a sustainable path forward and has entered the closure process.

No recovery after the attackRadiant’s decentralized autonomous organization (DAO) published a blog post on Monday declaring the decision to shut down. The DAO cited the inability to recover stolen assets, failure to secure new capital, and a lack of financial flexibility to operate responsibly as key reasons for liquidation.

Despite increasing challenges, Radiant’s team noted that ongoing contributions from community members helped keep the system afloat, but without recovery, new capital, or growth, these efforts were ultimately not enough to ensure sustainability.

Radiant Capital launched in 2022 with the goal of aggregating liquidity from multiple blockchains on a single platform. The protocol experienced rapid growth throughout 2023, with total value locked (TVL) soaring to $386.8 million by December. This surge happened even as TVL figures elsewhere in the crypto market were declining.

Glossary: The Lazarus Group is a cybercriminal syndicate reportedly linked to North Korea, well-known in international security circles. In recent years, they have gained notoriety for high-profile attacks targeting crypto platforms and are frequently mentioned in blockchain security reports.

Protocol will not be fully decommissionedRadiant clarified that the system will not be fully shut down but will instead enter a maintenance mode. The user interface will remain online, access to smart contracts will continue, and users can withdraw assets, repay loans, and manage current positions.

However, the DAO will cease to provide development, updates, or expansion. Protocol managers advised users to monitor risks closely and manage open positions with caution.

Sharp drop in TVL and token priceFollowing the October 2024 hack by the Lazarus Group, Radiant’s total value locked rapidly fell to $75 million, and within the same month, plunged further to $5 million. After these losses, the protocol was unable to regain former levels.

The company stated that recovery efforts launched after the attack will continue. The recovery portal will remain open and any reclaimed funds will be distributed to affected users.

Radiant Capital’s native token, RDNT, dropped in value by 4.2% following the closure announcement. RDNT had reached an all-time high of $0.58 in September 2022, but now trades at only a small fraction of that price.

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.

Radiant Capital Ends DAO Operations 18 Months After $50 Million Exploit

imgnAI raises $1.6 million seed round to support ‘digital companion’ launch

Image Generation AI (IMGNAI) witnessed a substantial price increase following the announcement of a completed seed round of $1.6 million.

The price of the IMGNAI token is up by 4.6% this week, according to CoinGecko.

In the past year, it reached a price peak of approximately $0.024, marking a 595% increase. 

Image Generation AI (IMGNAI) holds its own  The artificial intelligence (AI) token, IMGNAI, completed its seed funding round — spearheaded by top-tier venture capitalists.

In the recent $1.6 million funding round, San Francisco-based Hack VC took the lead. Additional backing came from Rana Capital, Selini Capital, West Ham Capital, and others.

Following the announcement of its completed seed round, its native IMGNAI token has experienced a decent 4.5% increase in the last seven days.

With this infusion of new funds, IMGNAI says it is now approaching the imminent launch of Naifu; a platform it describes as an all-in-one virtual companion.

The IMGNAI platform claims to be shaping the future of generative AI, enabling the creation of art through straightforward text commands.

According to information on the team’s website, Naifu will undergo training on a diverse array of datasets, aligning with the approach seen in mainstream AI products, including OpenAI’s ChatGPT.

As per CoinGecko’s data, IMGNAI is currently trading at $0.02408, representing a 10.2% increase in the last 24 hours.

CFTC sounds alarm on AI-driven cryptocurrency scams On Jan. 25, the U.S. Commodity Futures Trading Commission (CFTC) issued a statement concerning fraudulent schemes exploiting the rising interest in AI to defraud cryptocurrency investors. 

The regulatory body has pursued legal actions against numerous defendants who deceived customers by promoting commodity pools, crypto assets, or investment programs with misleading assurances of consistent, above-average returns through AI. 

Contrary to the pledged automatic profit generators, customers experienced significant financial setbacks, with instances leading to the disappearance of substantial funds, including nearly 30,000 Bitcoin (BTC) valued at approximately $1.7 billion at the time. The regulator’s cautionary statement continues:

These scams are touting extravagant returns and a 100 percent success rate through AI-generated algorithms.

The CFTC underscores the fact that AI technology cannot predict future changes in the crypto or financial markets, and any assertions suggesting otherwise should be met with skepticism.

This warning serves as a crucial reminder for investors to remain vigilant, especially when faced with seemingly too-good-to-be-true investment opportunities leveraging AI.

The CFTC urges investors to exercise caution and thorough due diligence in navigating the evolving crypto landscape.

The $NAIFU memecoin is exclusively paired with the $IMGNAI token to provide deep liquidity. The Naifu team combined cutting-edge AI with the dynamic culture of Web3 to empower the community with a new memecoin. The explosive growth of the Naifu AI agent in enabling uncensored and audacious virtual companions will be enhanced by the $NAIFU memecoin. Amid the explosive growth of memecoin projects backed by Artificial Intelligence (AI) agents in the recent past, imgnAI ($IMGNAI), a pioneer in generative AI on blockchains, has announced a major leap in the sector. Backed by HackVC, imgnAI will launch a memecoin project to complement Naifu virtual companion dubbed $NAIFU.

The $NAIFU memecoin is live on the Base network, an Ethereum’s layer two (L2) scaling project backed by Coinbase Global, on Thursday, December 12. According to the announcement, prospective $NAIFU investors will be required to hold IMGNAI tokens to trade the memecoin on the Uniswap (UNI) decentralized exchange (DEX) via the Base network.

The Naifu team noted in the announcement:

“Our mission has always been to empower creative expression without limits. With the NAIFU token, we’re combining cutting-edge AI with the dynamic culture of Web3, creating an entirely new way for people to interact with intelligent systems.”

NAIFU Roadmap and Impact on the IMGNAI Ecosystem  As a young web3 project with immense potential to disrupt the global market, imgnAI is keen to engage the community with the NAIFU memecoin. After a successful launch of the NAIFU memecoin, the team intends to focus on a new derivative NFT series.

In the near term, the NAIFU team will unveil the PUMPNAI platform to enable users to create NFT collections and easily convert them to tradeable tokens. Most importantly, the PUMPNAI platform will enable users to create AI agents akin to Naifu, which will be paired with the $IMGNAI token.

After the launch of the platform, the Naifu team will focus on introducing live-streaming capabilities for all AI agents. Eventually, the Naifu team is confident that every AI agent on the imgnAI ecosystem will have social profiles, NFT collections, and live-streaming features.

The announcement added:

“Looking ahead, imgnAI plans to expand Naifu’s capabilities with multiple personas, cross-platform integrations, and API functionality, potentially powering NPCs in Steam games.”

The strategic launch of the NAIFU memecoin will significantly increase the overall demand for the IMGNAI token. As a result, the small-cap token, with a fully diluted valuation of about $21 million and a daily average traded volume of nearly $2 million, surged over 169 percent in the past two weeks to trade about $0.0256 on Thursday, December 12.

Launched in 2022, imgnAI has grown into a complex ecosystem, with more than 130k image generation daily. Launching a memecoin on the base L2 taps on the legendary Ethereum’s security. According to the latest market data, the top Base L2 memecoins have grown to over $3.3 billion in market cap and 24-hour trading volume of about 325 million as Bitcoin hovers about $100k a few weeks to the inaugural of the first pro-crypto US president.

imgnAI Unveils PumpNai to Start a New Era in Web3 and AI Innovation

A New Dawn: Leading Web3 Data Infrastructure Provider Syntropy Rebrands To Synternet

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Oasis Protocol, an open-source decentralized blockchain, has recently made a landmark development. The company has disclosed that Synternet, a prominent blockchain that drives interoperable infrastructure across top chains, is welcoming Oasis as a data publisher. The platform took to its account on X to reveal the latest achievement.

We are excited to share that @synternet_com now includes Oasis as a data publisher, offering Sapphire & Emerald data streams via the Data Layer Portal!

This enables developers to rapidly integrate real-time, confidential data into apps across finance, healthcare, and more 👏: https://t.co/tAk8HaWIcw

— Oasis (@OasisProtocol) April 26, 2024 Synternet Includes Oasis Protocol as a Distinctive Data Publisher In its recent post, the company expressed its enthusiasm regarding this development. It mentioned that Oasis will offer Emerald and Sapphire data streams through Data Layer Portal on Synternet. As a result of this development, the developers will get significant benefits. They will swiftly integrate confidential and real-time data into applications across several departments.

Now, everyone can access the privacy-first blockchain of Oasis to get live data from Data Layer. The inclusion of Emerald and Sapphire data streams permits the developers to instantly deploy responsive and dynamic applications. Hence, the developers can begin their journey by delving into the real-time data that Oasis provides. In addition to this, they can get permissionless and rapid access.

In this respect, they would not require working with engineers or organizing an onboarding procedure. The data streams of Oasis will reportedly streamline the access to live data. Additionally, they will accelerate the procedure of real-time data inclusion into dApps. This allows for an active interaction within decentralized applications.

Data Streams of Oasis Offer Use Cases for Diverse Departments In the financial landscape, the builders could reportedly benefit from real-time transfer data to develop more secure and responsive trading forums. In healthcare, the accessible live data about patients could innovate remote observation and customized medicine apps. Oasis Saphire is the chief contributor to all this as its access makes these facilities possible.

The data streams of Oasis let the Data Layer fulfill the diverse market requirements that need confidential and real-time data. This takes into account support for decentralized artificial intelligence training, AI-driven dApp management, and prediction-based trading.

The Data Layer expands the respective AI features with its capability to train machine learning models rapidly. The exclusive features that Oasis Privacy Layer and Oasis Sapphire provide guarantee confidentiality and verifiability of computation. This unlocks likely use cases concerning privacy-driven AI across diverse industries.

AUTHOR

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

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The L1 blockchain Synternet, which powers interoperable and modular data infrastructure throughout major chains, has announced another partnership. As per the platform, peaq, a multi-chain L1 blockchain dealing with Machine real-world assets and DePIN applications, is joining Synternet as an exclusive data publisher. Synternet took to X to reveal this unique integration.

Announcing a new publisher – @peaqnetwork 👾

Starting today, builders can tap into peaq's agung testnet data streams and start building tomorrow's real-time #DePIN and Machine #RWA applications 🏔

Read the full details here 👇https://t.co/JWisLIQ1jK

— Synternet (@synternet_com) May 8, 2024 Synternet Incorporates Peaq Network as Its Latest Data Publisher The platform noted in its X post that the developers can leverage peaq as a result of the latest collaboration. In this respect, they can utilize the agung testnet-based data streams of peaq. With this, the builders can start developing Machine RWA and DePIN applications. In addition to this, Synternet shared a blog post that details the latest endeavor of the platform.

In the post, the company disclosed that peaq will provide the services of a data publisher. After the integration of peaq, the resilient DePIN ecosystem of the platform provides live data. Hence, the developers can utilize it to bring innovation to the Web3 sector to increase its adoption in the real world. Synternet added that it welcomes the data feed of peaq on its Data Layer Portal.

According to the company, it is promoting real-world app developers to leverage blockchain data with this integration. The development reportedly displays the crucial significance of decentralized and accessible data in advancing DePIN and so on. Following the integration, builders on peaq can reach a wide reservoir of multi-chain data. This accelerates this with rapid and customizable data feeds with no requirement for separate nodes.

The Integration Provides Real-Time Data to the DePIN Developers This remarkable data integration strengthens developers to build real-world applications along with broadening DePINs’ data abilities. Apart from that, Synternet pushes the growth of the DePIN ecosystem by providing modifiable data triggers and filters. This optimizes data utility to facilitate the developers. The respective adjustable and versatile instrument also decreases the entry obstacles for developers.

As the data streaming of peaq is live now, the developers can straightly leverage the peaq ecosystem-based real-time feed. It allows the innovators and developers to expand the possibilities regarding Web3 and DePIN to revolutionize device management. The integration permits the developers to access a diverse tool letting them craft various decentralized apps without requiring lengthy data onboarding.

AUTHOR

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

As blockchain technology evolves, the need for seamless interoperability and efficient data access has become more crucial than ever.

Enter Synternet, a groundbreaking blockchain that is set to revolutionize the way we interact with and utilize data across multiple chains. Just as the Internet connected isolated computers in the late 20th century, Synternet aims to bridge the gap between disparate blockchains, creating a unified and synchronized ecosystem that tears down the barriers of walled gardens.

At the heart of Synternet lies the Data Layer, a protocol that serves as a customizable execution layer between all major blockchains.

This innovative architecture enables developers, organizations, and users to access and execute on cross-chain data seamlessly, without the limitations imposed by centralized services.

By providing swift and secure access to both real-time and historical on-chain data, Synternet empowers the creation of truly decentralized applications that can leverage the collective power of multiple blockchains.

With over 580 million cryptocurrency global users alone, blockchain has become one of the dominant technologies of our times. The benefits of decentralization have now proven too big for giant conglomerates like IBM, Walmart, Microsoft, JP Morgan, and Alphabet to resist using the tech.

While the rapid growth of blockchain is certainly beneficial to its users, it also comes with some problems. Most blockchain networks are efficient when it comes to data storage.

To fulfill its mission of rethinking how blockchain data is accessed, the Synternet blockchain effectively operates as a blockchain oracle specifically designed to improve access to decentralized data. Whereas most blockchain oracles like Chainlink focus on providing networks access to off-chain data, Synternet is designed to operate with on-chain data.

For instance, it is estimated that the entirety of the Bitcoin network’s data requires about 570 GB of storage. While this means that all of Bitcoin’s data could be stored by the average consumer-grade computer, the issue this data represents is of an entirely different nature.

With Bitcoin and Ethereum no longer being the sole viable players in the blockchain space, data has become increasingly segmented across networks and protocols. As each of these operates as its own separate database, sometimes even segmenting themselves, data silos have started to become more common.

This is the issue that many blockchain developers, analysts, and users have to deal with when trying to create multi-chain solutions, aggregate data, or operate across multiple protocols.

Fortunately, Synternet has developed a solution to this problem by connecting isolated blockchain networks and making it easy to access multi-chain data.

What is Synternet? Synternet is a blockchain-based platform that powers modular, interoperable data infrastructure across all major chains. It serves as a unified, synchronized evolution of decentralized networks, breaking down the barriers between isolated blockchains and enabling seamless access to and execution on any cross-chain data.

At its core, Synternet aims to be the backbone of a fully decentralized data exchange, eliminating the need for centralized services and empowering developers, organizations, and users to harness the true potential of blockchain technology.

The foundation of Synternet is the Data Layer, a protocol that acts as a customizable execution layer between all blockchains. This layer allows builders to see, interpret, and act on data from any chain, supercharging their applications and opening up a world of possibilities.

By providing swift and secure access to both real-time and historical on-chain data, Synternet enables the creation of truly decentralized applications that can leverage the collective power of multiple blockchains.

One of the key innovations of Synternet is the introduction of Autonomous Economic Agents (AEAs).

These agents empower developers to create composable, use-case-specific applications that can adapt and interact with data from various sources. AEAs unlock unprecedented opportunities for innovation, allowing developers to build applications that can seamlessly integrate with multiple blockchains and harness the power of cross-chain data.

Synternet represents a step forward in blockchain interoperability. While previous solutions have focused on asset transfers or cross-chain messaging, Synternet’s Data Layer enables instant smart contract execution on any data from any chain.

This opens up a new world of possibilities for builders, who can now create applications that leverage data from multiple blockchains in real-time, without the limitations imposed by centralized services.

Collaborative Data Infrastructure for a Truly Decentralized World Synternet’s On-Chain Streaming Oracle allows anyone to quickly and easily access both real-time and historical on-chain data.

This data is aggregated using the network’s Data Layer, which relies on publishers, subscribers, brokers, and observers to ensure its decentralization.

Publishers are users who stream data to Synternet’s broker network, creating a market in which free competition ensures the quality of the data provided. As there is no limit to the number of “messages” a Publisher can submit, the network’s data availability is constantly growing. The data offered by Publishers is available to Subscribers looking to use it. These users pay a fee to the Publishers for the data after reaching an on-chain agreement. As this agreement is backed by smart contracts, the network operates autonomously and trustlessly. Once an agreement is made, Brokers deliver the information to the subscribers after doing the necessary validations. For this service, Brokers receive a part of the network fee as a reward once the Proof of Delivery (PoD) is submitted. This incentivizes Brokers to deliver the highest amount of messages in the most efficient way possible. Observers ensure that every transaction in the network can be trusted by auditing every data stream between Publishers, Subscribers, and Brokers. They also receive part of the network fees as a reward for providing these logistical services. It is important to note that both Brokers and Observers are required to credit NOIA tokens before providing their services.

This ensures that no user can take advantage of the network by accessing data as a freeloader or any other way. As a result of this collaborative effort, the network is also highly scalable, stable, and secure.

NOIA Token The Synternet network is powered by the NOIA token, which is used to power transactions, incentivize users, secure the network, and manage governance.

The token was designed with scalability, sustainability, community governance, and stable value in mind. For this reason, NOIA offers various features that include staking, delegation, slashing, proof challenging, and voting features.

With a circulating supply of over 72.9%, most of the token’s supply is already available to Synternet’s users looking to participate on the network.

A dedicated pool of tokens is also in place for the reward pool, which provides incentives for chain security and the data layer, as well as the community pool.

Synternet users can participate in the governance of the network by using the standard model of on-chain governance used by the Cosmos ecosystem. This means that proposals can be submitted by any user willing to deposit a required amount of NOIA.

While the deposit is recovered if the proposal is rejected or no quorum is met, it will be burned if the proposal is vetoed. This approach ensures all users act with the network’s best interest in mind.

The Team Behind the Data Revolution Any blockchain project is only as strong as the team behind it, and Synternet boasts an impressive lineup of talent and experience. The company began as a tech startup in Lithuania after its co-founders joined forces to revolutionize the internet infrastructure. This mission progressively evolved until it became all about the blockchain and web3 ecosystems.

Jonas Simanavicius, Synternet’s co-founder and current Chief Technology Officer (CTO), brought valuable experience from his prior roles at major financial institutions like J.P. Morgan and the Royal Bank of Scotland. Daniel Haudenschild, Synternet’s current CEO, is a former Ernst & Young partner who also held leadership roles in companies such as HCL-Axon, Swisscom, Sibex, and the Crypto Valley Association. Just like Jonas and Daniel, Synternet’s core team is full of talented individuals with plenty of experience in the technology, financial services, blockchain, and data science ecosystems. They are backed by prominent investors such as CMCC Global, Faculty Group, Moonrock Capital, Wave Capital, and Polygon Ventures.

Conclusion By powering modular, interoperable data infrastructure across all major chains, Synternet aims to revolutionize the way we interact with and utilize blockchain data.

As the blockchain landscape continues to evolve, the need for seamless interoperability and efficient data access will only become more pressing. Synternet’s modular approach to data infrastructure, coupled with its commitment to decentralization, security, and efficiency, positions it as a key player in shaping the future of decentralized applications.

Nicholas Say

Nicholas Say was born in Ann Arbor, Michigan. He has traveled extensively, lived in Uruguay for many years, and currently resides in the Far East. His writing can be found all over the web, with special emphasis placed on realistic development, and the next generation of human technology.

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Synternet, a well-known blockchain that powers integrated data infrastructure on prominent chains, has announced a new move. As per the platform, it is releasing the mainnet thereof on the popular blockchain Cosmos, denoting the accomplishment of the Monaco phase. The company mentioned in the announcement that this assists in an exclusive epoch concerning the decentralized economy.

Synternet Announces the Accomplishment of Monaco Phase with Mainnet Release on Cosmos In addition to this, this development reportedly unlocks the complete potential of $SYNT (the native token of Synternet). The company added that the initiative activates the actual monetary value regarding data within Synternet’s multi-chain ecosystem. Apart from that, the mainnet launch allows for the practical use of the firm’s token. Additionally, it pushes forward its growth-centered roadmap “Pikes Peak.”

Furthermore, it permits the developers to develop cutting-edge applications. These apps reportedly leverage the trustless and real-time data streams coming from the chief chains. Cosmos possesses a thriving ecosystem along with a broad list of services, tools, and projects. With all of these, it offers a resilient foundation to Synternet in the case of more growth.

The release on Cosmos additionally entails advantages like rapid transfer processing and minimized gas fees. This is a milestone in comparison with the rest of the networks. Along with that, it highlights the project’s determination to democratize access to data. Jonas Simanavicius, the chief technology officer of Synternet, also remarked on this endeavor. As per the executive, the company uses $SYNT to offer real utility.

The Initiative Facilitates Businesses and Developers with Unique Opportunities Furthermore, it lets consumers recompense reduced fees regarding data services. As a result of this, the platform promotes a more effective and inclusive ecosystem, he added. Daniel Haudenschild, the chief executive officer of the platform, asserted that this launch signifies the realization of the firm’s vision. It reportedly deals with the data economy with the help of decentralization.

He claimed that, as $SYNT drives data monetary value, the firm has developed significant opportunities facilitating businesses and developers. According to him, the platform is pursuing expansion and growth as the Pikes Peak roadmap outlines. $SYNT primarily serves as a payment means concerning data services. Synternet additionally provides an attention-grasping staking mechanism to assist token holders. The company also persuades the users to visit its migration site. In this way, they can take part in the platform’s ecosystem.

AUTHOR

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

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Synternet, a trailblazer in blockchain interoperability, is reshaping the landscape of Web3 data sharing through its deep integration with the Interchain ecosystem. The company has recently announced significant milestones with the launch of its mainnet and the imminent opening of the bridge from its ERC20 $SYNT token to the Cosmos token. 

This integration marks a pivotal advancement in facilitating seamless real-time data flow across various blockchain platforms, promising a new era of connectivity and accessibility in the decentralized world.

As Synternet’s platform goes live, it not only produces blocks supported by institutional validators but also sets the stage for expansive real-time data interaction across the crypto sphere. Scheduled for July 29th, the token bridge activation is anticipated to catalyze enhanced interoperability within the Interchain Stack, a crucial framework underpinning Synternet’s operations. 

This strategic move aligns perfectly with Synternet’s core mission to deliver an open, real-time data access framework across all major blockchain networks, effectively knitting together a fragmented landscape into a coherent, accessible whole.

💥 The Future of Web3 Data is #Interchain@synternet_com adopts the Interchain Stack to revolutionize real-time data sharing and drive innovation.

Synternet's joining the Interchain paves the way for a future of open access to real-time data across the ecosystem. pic.twitter.com/hi2wTsxP0U

— Cosmos – The Interchain ⚛️ (@cosmos) July 15, 2024 The Technical Backbone of Synternet’s Integration At the core of Synternet’s innovation are the sophisticated elements of the Interchain Stack, designed to ensure a fluid and secure data exchange across diverse blockchain environments. Key among these technologies is the Inter-Blockchain Communication (IBC) protocol, which facilitates robust and scalable cross-chain interactions. 

This protocol is instrumental in allowing data to move seamlessly between different networks, thus enhancing the reliability and efficiency of real-time data exchanges.

Further enhancing Synternet’s capabilities is the Cosmos SDK. This adaptable framework supports the development of customized blockchains or “appchains,” tailored to specific needs and functionalities required by Synternet. 

This customization extends to the consensus mechanism provided by CometBFT (formerly Tendermint), ensuring a secure and fault-tolerant environment crucial for the high stakes of real-time data applications. 

Additionally, the incorporation of CosmWasm permits the deployment of intricate smart contracts, enabling dynamic, on-chain interactions that are vital for advanced decentralized applications responsive to real-time data.

Real-World Impact and Future Prospects The practical applications of Synternet’s technological integration are vast and varied. In the decentralized finance (DeFi) sector, real-time price feeds facilitated by Synternet can significantly enhance trading strategies and risk management. 

Similarly, decentralized physical infrastructure networks can utilize this timely data to improve service reliability and efficiency, impacting a wide range of industries from IoT to autonomous vehicles.

Looking ahead, Synternet’s roadmap through the latter half of 2024 is ambitious. The Pikes Peak phase aims to expand the accessibility and functionality of the platform, introducing features like Autonomous Economic Agents and Programmable Streams. 

These innovations will allow for even more sophisticated interactions with real-time data, paving the way for a new generation of responsive and intelligent decentralized applications.

AUTHOR

Mysterious crypto writer with expertise in blockchain, offering deep insights that captivate and intrigue readers. With a unique ability to uncover hidden insights and trends, Samuel delivers in-depth analysis and thought-provoking content that keeps readers on the edge of their seats. His writing style is engaging and informative, blending technical knowledge with a sense of intrigue, making complex crypto topics accessible to both newcomers and seasoned industry professionals. Samuel’s work continues to capture the attention of the crypto community, solidifying his reputation as a trusted voice in the space.

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