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June 3, 2024
Binance, the world’s largest crypto exchange, is ceasing support and trading on all spot and margin pairs for four altcoins.
Starting June 17, Binance announced that it will delist altcoins including Waves (WAVES), OmiseGo (OMG), Wrapped NXM (WNXM) and NEM (XEM).
The exchange noted that these altcoin removals come in line with its periodical review of each digital asset. This ensures whether tokens continue to meet a high level of standard and industry requirements, Binance’s blog post read.
“When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it. Our priority is to ensure best services and protections for our users while continuing to adapt to evolving market dynamics.”
Some of the factors evaluated during the periodical review includes token’s trading volume and liquidity, network stability and safety. The exchange also evaluates whether the token shows evidence of any fraudulent conduct, regulatory requirements, among others.
Further, Binance said that deposits of these altcoins will not be credited to user accounts after June 18. Additionally, it will not support withdrawals of these four tokens after September 18, 2024.
Following the delisting, WAVES token saw a sharp plunge of 25%, with the token currently trading at $1.67. The altcoin’s trading volume has jumped over 1340% as investors readjusted their holdings.
Binance Halts Cash Payments for P2P Trades in India
In the meantime, Binance’s India arm has stopped cash payment option for peer-to-peer trades.
The announcement to halt cash payments has affected local traders, who used Indian rupee (INR) option to avoid tax regulations.
Purushottam Anand, founder of Bengaluru-based blockchain firm Crypto Legal told Economic Times that P2P cash transactions expose parties to serious physical and financial risk, irrespective of whether any exchange is involved or not.
“There have been cases where traders have been physically assaulted and forced to transfer their virtual assets or hand over cash during physical meetings,” he added.
Giko Cat, Sudeng and inSure DeFi emerged as the top gainers in the last 24 hours with a double-digit surge.
CoinGecko data shows that while top coins like Ethereum (ETH) and Solana (SOL) are recovering with a 1-3% surge after the recent dump, some meme coins pulled off double-digit gains.
Cat-themed meme coin Giko Cat (GIKO) is up by 52% in the last 24 hours. It is the largest gainer as per CoinGecko’s top gainers list during this period.
The coin has a market cap of $63 million. GIKO’s surge can be attributed to the popularity of cat-inspired meme coins, which is led by Popcat (POPCAT).
GIKO is up by over 280% in the last seven days and up 2,100% in the last 30 days. This notable surge happened amidst the highly volatile market conditions.
Source: CoinGecko InSure DeFi pumps 40% InSure DeFi (SURE) is second on the list as the top gainer with its 40% surge. Trading at $0.003166, the coin has surged from its seven-day low of $0.00203.
Even though its 24-hour pump is commendable, the meme coin is down by over 35% in the last 30 days.
Source: CoinGecko Unlike GIKO, InSure DeFi is not a meme coin and is part of a crypto and RWA portfolio insurance ecosystem.
However, the exact reason for the surge of InSure is not clear as there haven’t been any notable development announcements in the last 24 hours.
Sudeng bags the third position Sudeng (HIPPO) is another spin-off token inspired by the Moo Deng hippopotamus. According to CoinGecko, HIPPO is the third-largest gainer in the last 24 hours.
Source: CoinGecko Amid the not-so-bullish market conditions, this meme coin has managed to surge by over 36%. HIPPO has gained investor attention as analysts are shilling the coin all over X.
With the meme coin now standing at a $169 million market cap, analysts speculate that $200 million could be next.
Key NotesGalxe's $50M fund seeks to revolutionize blockchain ecosystems by supporting decentralized projects.The fund was backed by venture capital companies like HashKey Capital and DAO5, supporting Galxe's vision for decentralized innovation.Galxe has added an additional $5 million in grants to bolster innovation. Galxe, a leading Web3 identity and rewards platform, has announced the launch of a $50 million ecosystem fund to accelerate innovation within its newly upgraded Gravity blockchain.
According to an announcement on Tuesday, this initiative, known as the Gravity Ecosystem VC Alliance, seeks to support developers and projects in building high-performance decentralized solutions while expanding the capabilities of the blockchain’s ecosystem.
A $50M Boost for Blockchain Developers The Gravity Ecosystem VC Alliance was established to provide funding, resources, and strategic backing for developers aiming to create scalable and efficient applications on the Gravity blockchain. Prominent investors, including HashKey Capital, DAO5, Draper Dragon, and Spartan Group, supported the new initiative.
Galxe’s co-founder, Charles Wayn described the initiative as a vital step toward supporting innovative projects that align with the platform’s mission.
“We wanted to start to build out the ecosystem and allow more developers to come over and build here. The advantage of building on Gravity is that you get instant access to the 1 million daily active users of Galxe,” Wayn told Cointelegraph.
To complement the ecosystem fund, Galxe has also allocated an additional $5 million in developer grants to encourage further innovation. These grants aim to attract developers looking to capitalize on Gravity’s robust technical infrastructure and vast community of 31 million users.
Introducing Grevm 1.0 In addition to the ecosystem fund, Galxe has introduced Grevm 1.0, an open-source parallel Ethereum Virtual Machine (EVM) to upgrade Gravity. The new blockchain solution was developed using the Rust programming language to offer a simplified and more efficient alternative to traditional EVMs.
The Grevm 1.0 seeks to provide a better foundation for developers compared to existing solutions.
The Gravity network boasts impressive technical capabilities, including 1 gigagas per second throughput, sub-second transaction finality, and robust Proof-of-Stake (PoS) security.
The protocol launched its Alpha Mainnet in August 2024, marking a strategic shift away from centralized infrastructure. During the transition, Galxe moved its core applications — such as Passport, Quest, Compass, and Identity Protocol — on-chain.
Galxe provides developers with a decentralized framework to build and grow their projects independently. The full mainnet is scheduled for launch next year.
A Vision for Interconnected Innovation Gravity’s infrastructure supports seamless integration across 70 interconnected blockchains, enabling developers to build applications that cater to a wide array of use cases. Additionally, its native token, G, facilitates uniform payment for gas fees across these networks, simplifying user interactions and improving accessibility.
The blockchain also has its own native SDK dubbed “Gravity SDK”, currently under development. According to Galxe, the open-source toolkit will enhance developer capabilities by providing a streamlined framework for creating decentralized applications.
Xia has high ambitions for the SDK, noting that it is being developed to outperform existing solutions like the Cosmos SDK by offering greater flexibility and efficiency.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
As blockchain networks grow and serve more users, their scale—measured by the volume of transactions and participants—can both solve and create challenges.
Blockchains running programs that automate agreements, like smart contracts, often face significant challenges, especially those with large, active user bases. Too many users are trying to do things simultaneously, and the Ethereum Virtual Machine (EVM) at its center simply can’t do all the transactions the ecosystem wants in quick succession, one after another. Limited space on the blockchain can also increase competition for inclusion in blocks, driving up transaction fees during times of heavy use.
If there’s one thing that stops a growing platform from keeping its users happy, it’s slow and expensive transactions on its applications. Web3 distribution platform Galxe, one of the crypto world’s busiest platforms with over 31 million users, sought to address these common issues when designing its own tailor-made blockchain, Gravity.
In August 2024, Gravity introduced its Layer 1 Blockchain with the launch of its alpha mainnet: a proof-of-stake (PoS) blockchain and smart contract platform, built specifically to cater to the needs of the Galxe community’s 31 million-strong user base.
What is Grevm 1.0?Grevm 1.0 is an open-source, parallel Ethereum Virtual Machine (EVM) runtime that is “the technological core” of Gravity, facilitating almost 800,000 daily transactions running on Galxe’s ecosystem. It’s based on revm, an EVM written in the programming language Rust.
What makes Parallel EVMs different from conventional EVMs is that they provide a way to run multiple transactions or smart contract operations simultaneously, rather than sequentially, which can help avoid performance bottlenecks during periods of very high demand.
How does Grevm work?Grevm uses an algorithm inspired by BlockSTM, a type of parallel execution engine, to run its smart contracts. BlockSTM was put together by a team of researchers from Aptos, Mystem Labs, UCL, Chainlink Labs and MIT in 2022. BlockSTM is inspired by an academic approach in computer science known as Software Transactional Memory (STM).
Galxe’s team enhanced BlockSTM using data derived from its simulation results. Grevm also uses Asynchronous I/O in its algorithm, a design feature that enables programs to do other tasks while waiting for input or output tasks to finish, instead of pausing and waiting.
According to Galxe, incorporating Asynchronous I/O, a feature not present in the vanilla version of BlockSTM, allows it to perform better in many circumstances, such as when high latency is present.
What's so special about Grevm?Galxe’s benchmark testing indicates that Grevm is the fastest current open-source parallel EVM implementation to date.
For transactions that are fully parallelizable, Galxe claims that Grevm can be 4.13× faster than sequential execution, running at up to 26.50 gigagas/s. When Galxe simulated a high latency environment of 100 μs, it was found to run 50.84x faster than sequential execution, with 6.80 gigagas/s throughput.
This leap in performance is attributed to both the use of parallelized execution and the integration of asynchronous I/O operations—enabled by parallelism—which further amplifies the speedup by efficiently overlapping I/O operations.
In practice, Galxe explained that Grevm’s ability to handle computations in parallel will “elevate” DeFi protocols and dapps running on Gravity’s network, by allowing them to execute multiple transactions in parallel, minimize latency, and boost throughput.
Who's building on Grevm and Gravity? Galxe Quest is a platform for building and engaging Web3 communities. Using a no-code solution, it allows numerous projects to create reward-based loyalty programs. Optimism, Arbitrum, Base and over 6,500 other Web3 projects use it to provide users with freebies like loyalty points and complementary NFTs. Galxe Passport is a digital identity product that allows users to securely store their identity information and use it across hundreds of supported applications. Galxe Score evaluates users based on their on-chain activities, project participation, and overall engagement in the Web3 community, providing a comprehensive view of their presence and reputation. Symbiosis is a cross-chain automated market maker (AMM) and decentralized exchange has integrated Gravity into its platform, which allows users to bridge assets between Gravity and over 35 blockchain networks. What is Gravity’s G token?The Gravity blockchain uses G as its native utility token, following a token migration from GAL in July. G is used to pay for gas fees on the network and to make payments on apps like Galxe Quest, Galxe Passport, and Galxe Score. G also grants users a variety of opportunities to participate in deciding the future of the Gravity network.
Users can stake their tokens to secure the network and participate in future governance decisions, deciding the future of the blockchain.
Where can you buy Gravity's G token?G can be purchased via major exchanges such as Binance, OKX, Upbit, and KuCoin. It’s also traded on decentralized exchanges (DEXs) such as Uniswap.
On Binance, you can buy G directly using USD; other exchanges offer trading pairs with Tether (USDT), USD Coin (USDC), Wrapped BNB (WBNB), or Wrapped Ethereum (WETH).
What does the future hold for Grevm?Grevm’s successor, Grevm 2.0, is pegged for release in early Q1 2025. The second iteration of Grevm will focus on refining parallel transaction processing to increase efficiency and precision. With continued testing and enhancements, Galxe expects that Grevm 2.0 will enable faster, more scalable solutions within Gravity’s ecosystem.
Grevm 2.0 will introduce fully Asynchronous I/O as well as “finer-grained” transaction-level concurrency, allowing related transactions to run in parallel once their dependencies are resolved.
Discover Grevm 1.0 here, or explore how Gravity is empowering projects to build scalable decentralized solutions with its $50 million initiative here.
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[PRESS RELEASE – New York City, New York, January 6th, 2025]
Galxe, web3’s largest onchain distribution platform, with over 30 million users and 6,000 partners, announces the launch of Galxe Earndrop, a cutting-edge token distribution tool that eliminates the complexities and inefficiencies often associated with airdrop campaigns and Token Generation Events (TGEs).
Designed to enhance user experience while streamlining processes for projects, Earndrop offers an automated, scalable solution for secure and transparent token distribution. Galxe Earndrop launches today in partnership with XRP, with additional partners including Solayer, Diam, Jambo, and SlamNet rolling out later this month, underscoring the platform’s reliability and market trust.
For projects, token distribution presents several technical and operational challenges:
Technical complexity: Custom token claim pages and eligibility checks require significant time and expertise. Security risks: Weak Sybil prevention exposes projects to bot abuse. Poor user experience: Clunky interfaces and confusing workflows lead to frustration and decreased trust. Reliability issues: Many unproven platforms are prone to bugs, creating an inconsistent process. “Token distribution shouldn’t be a roadblock to growth or community engagement,” said Charles Wayn, Co-Founder of Galxe. “ Galxe Earndrop allows projects to focus on their communities and products by providing a seamless, secure, and scalable solution for distributing rewards.”
Earndrop is revolutionizing airdrops for users, consolidating reward claims from multiple projects onto one platform. Users simply log in with their wallets, check eligibility, and claim tokens through an intuitive interface. By removing the need to navigate multiple platforms or worry about malicious links, Earndrop delivers the seamless experience users have been waiting for.
Galxe’s extensive track record ensures reliability, trust, and scalability for both Web3 projects and users:
Established trust: With millions of users and thousands of partners, Galxe minimizes the uncertainty of unfamiliar links and platforms. Proven reliability: Galxe’s infrastructure ensures accuracy and eliminates the bugs often seen in token claim processes. Enhanced security: Leveraging Sybil prevention and credential verification mechanisms, Earndrop guarantees a secure distribution process. As the web3 ecosystem grows, tools like Earndrop are essential to removing friction in the user and project experience. With Earndrop, Galxe delivers a solution that fosters trust, efficiency, and growth—helping blockchain projects focus on building stronger connections with their communities.
For more information about Galxe Earndrop and how it’s reshaping token distribution, users can visit XRP Earndrop homepage.
About Galxe:
Galxe is a decentralized super app and web3’s largest onchain distribution platform, empowering seamless web3 experiences through AI, digital identity, and blockchain technologies. Through its robust infrastructure and product suite — Quest, Passport, Score, Compass, Alva, and Earndrop — Galxe offers advanced tools and self-sovereign digital identity management to empower users to explore Web3 effortlessly.The recent introduction of Gravity, a Layer-1 blockchain designed for omnichain experience and full-chain abstraction, enables developers to tap into Galxe’s 30 million users and create new products that help onboard the world to web3.
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We haven’t heard much about Sony’s Layer-2 blockchain Soneium since its testnet’s introduction in 2023. Now, the company has announced a four-week contest where creators, developers, and users can explore Soneium’s capabilities.
The campaign will be hosted on the Galxe platform and will focus on gaming, communication, and creativity.
Sony is heavily invested in media production and distribution through Sony Pictures and Sony Music, so Soneium gives power back to artists, game developers, and fans through accessible, inclusive content.
This sense of unity lies at the core of Web3 philosophy, particularly decentralized autonomous organizations (DAOs) like Lido and MANTRA. Community governance drives these projects toward shared goals and is often more effective than centralized decision-making.
If Soneium gains mainstream adoption, these DAOs could also benefit from growing demand for projects that put the community first.
1. Wall Street Pepe ($WEPE) Raises $63M with Community-Centric Approach Wall Street Pepe ($WEPE) is an interesting DAO-like crypto project. Still on presale, it raised over $63M, becoming the second-most-popular presale to date (behind only Pepe Unchained).
The reason for such strong momentum is community support against institutional investors – presale buyers have become tired of whales manipulating the market and decided to rise up against them.
$WEPE holders will receive key trading insights to help them find hidden crypto gems and profit like never before.
While technically not a DAO, Wall Street Pepe checks all the boxes of one:
Strong community incentives and a loyal foundation Rewarding users for participating in ecosystem decisions The project is all about giving power back to the unbanked and creating a freer crypto market where regular traders don’t get hoodwinked by large whales.
The concept of DAOs is not new, but never before has a project encouraged active participation this way. In traditional DAOs, users often forget to exercise their governance rights because they don’t have a strong incentive. Wall Street Pepe changes this.
The presale hasn’t ended; there’s still an opportunity to buy $WEPE at a low price and join this rapidly growing community. Experts predict $WEPE to surge 100x after it’s listed on exchanges.
2. MIND of Pepe ($MIND), an AI Agent with a Bright Future MIND of Pepe ($MIND) is another community-centric meme coin presale that takes a different approach to DAO-based rewards.
The AI agent will curate crypto recommendations and insights after analyzing trends and crypto intelligence in real time.
Better yet, this will be an automated process. The AI will interact with influencers and engage with decentralized communities and platforms all by itself.
Although not a traditional DAO project, $MIND behaves like one in every way. Holders will receive exclusive rewards in the form of crypto insights and analyses.
And everyone is incentivized to HODL and contribute to the ecosystem by staking their tokens. So far, over 670M tokens have been staked for a jaw-dropping 522% APY.
One $MIND is now $0.0032144, and the presale has raised $4.2M, with the price increasing in the next 14 hours.
Considering the AI industry is estimated to reach $826B by 2030, it’s easy to see how AI agent projects like $MIND are catching so much investor attention.
3. Audius ($AUDIO), With Soneium, Might Reignite the Decentralized Music Revolution Audius is an established project that hit the market in 2020. However, after the initial hype wore off, it struggled to gain adoption, and the value of the $AUDIO token dropped from $4 to $0.13.
The Soneium mainnet launch might breathe new life into $AUDIO.
Audius is a decentralized music streaming protocol that gives creators full control over their content. It also connects artists with fans through direct messaging and live streams.
Traditional music streaming apps like Spotify take up to 70% of artist revenue. This means that indie creators can barely earn enough for coffee, so Audius implements a tipping system where artists get 100%.
Soneium’s and Audius’ vision aligns, so the project might very well migrate from Solana to this new network in the future.
4. MANTRA ($OM) Surges 4,503% Year-to-Date, New Records Ahead? MANTRA ($OM) is the second-largest DAO token with a $4.4B market cap. It grew 4,503% since January 2024 and hit a new all-time high of $5 three days ago.
What’s so special about it? And is this the top?
MANTRA is a decentralized finance protocol that offers services like staking, lending, and real-world asset tokenization. But community-led governance is one of MANTRA’s main appeals.
On top of that, MANTRA integrates the Cosmos ecosystem for interoperability with other blockchains through the Inter-Blockchain Communication protocol.
As an Ethereum-based project, MANTRA could also integrate with Soneium and lead as an example for other DeFi platforms on the network.
Final Remarks The main difference between Web2 and Web3 isn’t the technology – it’s the vision. Projects like Soneium, Wall Street Pepe, MIND of Pepe, Audius, and MANTRA create new governance and economic models where anyone can make an impact.
But remember, while these projects hold much promise, no gains are guaranteed in the crypto world. We remind you to DYOR and diversify to offset potential losses.
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
Trading agents that autonomously manage crypto wallets and optimize portfolios based on vast data sets top the list of practical applications exciting Charles Wayn, co-founder of Galxe and Gravity, as AI and Web3 converge.
In an interview with Benzinga over the weekend, Wayn detailed how these vertical AI agents, tailored for crypto trading, leverage blockchain's transparency and AI's analytical power to outpace traditional financial advisors, signaling a shift toward automated, data-driven investing.
His insights, drawn from Galxe's work with over 25 million users and Gravity's Layer-1 blockchain, highlight a burgeoning trend in the Web3 space.
Wayn pinpointed trading agents as a standout use case, emphasizing their potential to transform how users interact with crypto markets.
"Trading agent for crypto is the biggest use case in my opinion," he said.
"An agent that gives you all the information you need, sends you all the information you care [about], and operates your wallet, or even based on your preset risk preference, automate[s] your portfolio for you."
Unlike general AI tools like ChatGPT, these agents require deep domain knowledge, pulling from crypto-specific data—on-chain transactions, Twitter sentiment, and market trends—to execute trades and manage assets with precision.
Galxe, a decentralized super app and Web3's largest on-chain distribution platform, already supports this vision. Wayn highlighted their product Alva, a crypto-savvy AI tool, as part of this push.
He noted that trading agents' access to comprehensive data sets them apart: "They have the agent itself supposed to have more access to more information than any financial advisor because they know everything everywhere."
This capability, he argued, allows agents to aggregate insights across blockchains and social platforms, delivering real-time decisions that traditional systems can't match.
Also Read: Stablecoins Are Future Of Commerce, Says Base’s Tom Vieira
The trend extends beyond crypto, with potential applications in traditional finance looming on the horizon.
Wayn's excitement stems from a broader AI agent narrative he sees driving the next market cycle.
Vertical AI agents, unlike their general counterparts, focus on niche industries—crypto trading being a prime candidate due to its data-rich, fast-paced nature.
He contrasted this with past Web3 tools like tokens, which bootstrapped communities but lacked longevity without sustainable revenue models.
Trading agents, he suggested, thrive on utility, not gimmicks, reducing the need for token incentives.
Companies on Solana (CRYPTO: SOL) and Galxe's own ecosystem are already exploring this, though Wayn cautioned that success hinges on delivering tangible value, not just launching tokens.
The interview also touched on Galxe's broader mission. Gravity, their high-performance Layer-1 blockchain launched in 2024, enhances cross-chain interoperability, supporting applications like trading agents by simplifying data access across ecosystems.
Wayn's experience—from co-founding DLive to steering Galxe's 1 million daily active users—shapes his pragmatic view: Web3 must prioritize real applications with revenue, a lesson from past market downturns.
Trading agents, with their blend of AI and blockchain, embody this shift, promising a future where automation and trust redefine financial engagement.
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Galxe, a top Web3 platform for identity and credential infrastructure, has officially integrated with an Arbitrum-based DeFi-native L3 Superposition. The partnership is poised to considerably improve the DeFi infrastructure by merging the strengths of Galxe and Superposition. The platform revealed this joint effort in a recent social media post.
Galaxy and Superposition Integrate to Advance Decentralized Infrastructure The partnership leverages Galxe’s resilient tools for on-chain identity and the cutting-edge trading architecture of Superposition. The Arbitrum ecosystem-based Superposition operates as an advanced L3 protocol to exclusively facilitate DeFi applications. It delivers a suite of new features taking into account an on-chain order book, account abstraction, as well as permissionless and shared liquidity tools. The respective tools intend to streamline consumer experience while offering cost-efficient and rapid transfers to traders and developers.
The integration with Galxe permits Superposition to utilize seamless decentralized identity validation, reputation-building, and credential issuance capabilities. This could significantly serve in providing relatively sophisticated use cases dealing with DeFi. They include Sybil-resistant airdrops, identity-associated governance engagement, and access to diverse financial products.
Driving Permissionless Innovation, Scalability, Interoperability, and Privacy As per Galxe, Superposition’s integration aims to enhance scalability, interoperability, and privacy. With this, Superposition reaches a robust community of users and developers to redefine the DeFi future. The mutual endeavor signifies the shared commitment of both the entities to permissionless innovation as well as open ecosystems. It also underscores a promising move to further evolve the overall Web3 infrastructure.
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.
Onyxcoin price continued its strong recovery, reaching its highest point since Oct. 2. It has soared by nearly 200% from its lowest point this year, bringing its market cap to over $422 million.
Summary
Onyxcoin price has surged by ~200% from its lowest level this year. The futures open interest and volume in the spot market jumped to the highest level in months. The token’s funding rate has crashed, while oscillators show that it is highly overbought Onyxcoin (XCN) token jumped in a high-volume environment, a sign of strong investor demand. Its 24-hour volume rose to over $224 million, continuing a trend that has persisted this year.
Most importantly, activity in the derivatives market has surged in the past few days. CoinGlass data indicate that futures open interest rose to $5.8 million, its highest level since November 3. It has jumped from this year’s low of $1.2 million.
XCN’s surge has also led to a substantial increase in short liquidations, which is usually seen as a positive development. Short liquidations occur when crypto exchanges are forced to close bearish positions as losses escalate. Short positions worth over $343,000 were liquidated on Tuesday, higher than the previous day’s $127,000.
The risk, however, is that the token’s funding rate has plummeted to the lowest level since Oct. 10, it has remained in the red since Sunday this week.
Funding rate is an important metric that looks at the small fees that bulls and bears in the perpetual futures market pay each other to ensure that the spot and futures prices are not further apart. A negative funding rate indicates that most investors anticipate that the future price will be lower than the current price.
Onyxcoin is a cryptocurrency project that enables users to stake and earn returns, with data on its website indicating a staking yield of nearly 30%. According to DeFi Llama its ecosystem has not much going on, with Onyx having a total value locked of less than $100k.
Onyxcoin price technical analysis XCN price chart | Source: crypto.news The daily timeframe chart shows that the XCN price rebounded after finding substantial support at $0.00411. Its surge happened as investors bought the dip and as the crypto market rally continued.
A closer look shows that the coin has become highly overbought, with the Relative Strength Index and the Stochastic Oscillator reaching their highest levels in months.
Therefore, the price will likely retreat in the near term, potentially to the key support level at $0.00695, its highest swing on Dec. 11, which is 40% below the current level.
Onyxcoin [XCN] has rallied 4.4% in 24 hours and 27% over the past week. The token price gains came after a multi-week retracement from $0.013 to $0.0046.
At the beginning of the year, the altcoin 217% within a week, rallying from $0.0041 to $0.013.
It spent the rest of January and the first week of February retracing this sizeable move.
At the same time, Bitcoin [BTC] and the wider crypto market also saw a downturn in momentum.
The past week has been bullish for Bitcoin and many altcoins. This shift in short-term sentiment might have brought attention and capital to XCN. Can the bulls keep the rally going?
Warning signs from volume indicators Source: XCN/USD on TradingView The A/D indicator maintained its steady decline in recent months. The CMF was still at -0.06 despite the price bounce. Both the indicators showed that there has been no sustained buying pressure driving the past week’s rally.
This was a warning to swing traders that Onyxcoin might not be able to keep going higher. High buying pressure in the coming days would change this cautious outlook toward a more bullish view.
The price action perspective offered a more encouraging signal for buyers. The strong rally in January and the subsequent retracement were part of a healthy market.
Onyxcoin even saw a month of consolidation near the $0.005 lows before the recent breakout.
A strong rally, a sizeable retracement and consolidation before the next move is more reliable. The coin has spent time at the lows, confirming them as a steady demand zone.
The $0.0068-$0.0075 levels are the next resistances to watch out for.
Short-term XCN price trajectory Source: XCN/USD on TradingView In the short-term, a retracement toward $0.0057-$0.00545 was possible.
This conclusion was drawn based on the short-term Fibonacci retracement levels. The MACD formed a bearish crossover on Sunday, signaling that momentum has slowed down.
Such a retracement would offer swing traders an opportunity to go long. This idea would be invalidated if XCN falls back below the $0.005 level, which would mean the momentum has faded.
Final Summary Onyxcoin spent the past two months in a deep retracement phase, but has built up steam to attempt a recovery. A short-term retracement toward $0.00545 is possible before the upward momentum continues.
Onyxcoin (XCN) climbed to a 3-month high after South Korean exchange Upbit confirmed it will list the token today.
The altcoin saw a notable price surge after the announcement, reaching an intraday peak of $0.0086, its strongest level since mid-January.
Onyxcoin (XCN) Price Jumps to January Highs Ahead of Upbit DebutAt press time, XCN was trading at $0.0077, up 64.48% since the announcement. The sharp rally has propelled the token to the top of the gainers’ list among the 1,000 largest cryptocurrencies by market capitalization on CoinGecko.
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Onyxcoin (XCN) Price Performance. Source: TradingViewThe daily trading volume also jumped 629% to reach $37 million. South Korea’s second-largest crypto exchange accounted 25.45% of the total volume. Historically, Upbit listings have produced sharp short-term price reactions in newly listed altcoins.
Meanwhile, the exchange revealed that XCN trading will start at 16:00 Korean Standard Time (KST). The altcoin will be available to trade against two pairs: the Korean Won (KRW) and Tether (USDT).
“Please be sure to verify the network before depositing digital assets. Deposits and withdrawals through networks other than the one specified are not supported,” the notice read.
The exchange also noted that it will apply short-term trading restrictions. For the first five minutes after trading opens, traders will not be able to place buy orders, and sell orders priced more than 10% below the previous day’s closing value will be blocked.
Additionally, the exchange will permit only limit orders for approximately two hours after trading support begins. The temporary measures are meant to reduce volatility and ensure a fair, controlled start to XCN trading.
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Onyxcoin [XCN] emerged as one of the market’s top performers over the past 24 hours, posting gains of more than 50% as underlying fundamentals strengthened at press time.
In most cases, rallies backed by strong spot demand tend to draw alignment across the market, with derivatives traders reinforcing the move through long positioning. This time, however, that alignment has fractured, as perpetual traders increasingly position against further upside.
Spot demand underpins the rally XCN’s latest move appears rooted in aggressive accumulation within the spot market.
Over the past day, investors recorded one of their largest buying sprees in over a year, driving net inflows of approximately $1.74 million, according to CoinGlass.
Source: CoinGlass Such a surge in capital inflow, particularly after a prolonged lull, points to renewed conviction among market participants. Part of this demand may be linked to increased staking activity, with more than 6.3 billion XCN locked over the same period.
Sentiment indicators further reinforce this trend. Data from CoinMarketCap shows that 82% of tracked participants currently hold a bullish bias, up from 72% just a day earlier, reflecting a rapid shift in market outlook.
Holder growth signals sustained interest Accumulation trends are also evident in on-chain participation.
At the time of writing, the number of XCN holders has climbed to a new yearly high, surpassing 146,940 addresses, with most of the expansion occurring throughout April. This steady increase suggests broadening adoption and sustained investor interest.
Source: CoinMarketCap At the same time, the Accumulation/Distribution indicator continues to trend upward, highlighting persistent buying pressure over the past 24 hours.
Bears tighten grip in derivatives market Despite the strength in spot markets, derivatives traders are increasingly betting against the rally.
Funding Rates across perpetual contracts remain deeply negative at -4.5009% as of writing, indicating that short sellers are paying a premium to maintain their positions. This dynamic typically reflects dominant bearish sentiment.
At the same time, Open Interest (OI) has risen sharply, suggesting that traders are not only holding but actively adding to their short exposure.
Source: CoinGlass OI, which tracks total capital deployed in derivatives, has surged by more than 200% to $6.35 million. The parallel rise in OI and negative Funding Rates underscores strong conviction among bearish traders.
Still, the divergence between spot demand and derivatives positioning remains critical. Historically, strong fundamental backing can absorb selling pressure and limit downside, even when short interest builds aggressively.
Final Summary Spot-driven demand and improving fundamentals continue to support XCN’s upside momentum. Perpetual futures data shows a sharp increase in short positions, signaling growing bearish conviction.
Bitcoin's (CRYPTO: BTC) pump to $63,000 prompted traders to indicate how market sentiment is changing back to a bullish bias.
What Happened: Crypto trader DonAlt reiterated his July 9 tweet on how market scenarios change, stating that “coins are good again”. Bitcoin's real obstacle is $63,000 and there is very little reason for it to not make new highs. He also noted that he did not expect this to come back this quickly.
He concluded, "Just needs to hold $60,000 and break that and we’re firmly in bear cope territory."
Heavily followed crypto trader Loma reflected that despite his seven years in the crypto markets, he does not understand how quickly sentiment changes. He noted how a week ago the market sentiment was showcasing “structural breaks across the board, 4-month breakdown, Mt. Gox distribution, Germany selling, see you 2025."
However, the current situation is "new ATHs soon, no pullbacks" with price targets like $80,000 to $100,000.
Also Read: ‘Bitcoin Is A Legitimate Financial Instrument,’ Says BlackRock CEO Larry Fink
Why It Matters: The biggest cryptocurrencies have rallied double digits over the past week:
Cold Blooded Shiller, in his latest X post, outlined how Twitter has a major impact on the decisions people make. He highlighted the statements with the "it's so over" – "we're so back" meme, with sentiment changing from fear of missing out to desperation in a matter of days.
Shiller suggests some plans on how to overcome the feeling, such as timeframes to take advantage of, risk positions, rational thought and taking control of your finances.
What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Read Next:
Top Crypto Trader Contemplates Retirement, Looks For ‘One Last Bullish Trade’ On Bitcoin, Ethereum, Solana Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
China Bitcoin Ban? Nope. That myopic, foolhardy era of Chinese economics is over. A Shanghai court has dropped a surprise verdict, declaring that owning cryptocurrency isn’t illegal under Chinese law, finally giving crypto holders some legal peace of mind.
Sun Jie, a Shanghai Songjiang People’s Court judge, broke it down in a statement on the Shanghai High People’s Court’s WeChat account. The takeaway? Citizens can legally hold crypto as personal property, but businesses can’t invest in or issue tokens without strict oversight.
Only 11 countries have a GDP higher than the value of Bitcoin. Soon there will be only 7. At the peak of this cycle, there will likely only be 2 countries whose economy is bigger than Bitcoin: China and the USA.
— FRANCIS – BULLBITCOIN.COM (@francispouliot_) November 21, 2024
The statement emerged from a case involving a spat over an initial coin offering—labeled as illicit financing under China’s hardline policies.
Beijing still views crypto as a financial grenade, banning related business activity outright to avoid economic chaos. While crypto might carry property rights for individuals, using it commercially or as payment for shady dealings remains off-limits.
Owning Crypto in China Isn’t Illegal, Says Judge Judge Sun Jie of the Shanghai Songjiang People’s Court provided the first legal clarity in years regarding cryptocurrency ownership. Writing on the official WeChat account of the Shanghai High People’s Court, Sun stated that individual ownership of cryptocurrencies does not violate Chinese law.
“It is not illegal for individuals to hold cryptocurrency,” Judge Sun emphasized, adding that the government primarily targets speculative trading activities and attempts to ensure financial stability.
(TradingView) This revelation surfaced during a lawsuit involving two companies over an initial coin offering (ICO), an activity China considers illegal. While cryptocurrency transactions and mining remain banned, this new perspective by a Shanghai court marks a subtle yet significant differentiation between owning digital assets and actively trading them.
China’s crackdown started in 2017 with ICO bans and exchange shutdowns, hitting warp speed in 2021 with mining bans and an all-out prohibition on crypto business.
Yet, reports suggest that individuals and institutions remain involved through subterranean channels, often utilizing foreign exchanges for transactions.
Remarkably, China still controls a majority of the global Bitcoin hash rate, a stark contradiction given the ban. Behind the scenes, investors and miners appear to be finding ways to circumvent restrictions without openly defying regulatory authorities.
DON’T MISS: Last Chance To Scoop Up Bitcoin With PayPal Before 100K BTC Price Explosion
The Bigger Picture After The China Bitcoin Ban China’s influence on the cryptocurrency market extends far beyond its borders. Despite its domestic trading ban, the country’s mining dominance contributes significantly to the Bitcoin ecosystem.
With Bitcoin currently reaching record-breaking highs globally, the growing demand for digital assets—even within China’s borders—is hard to ignore.
For investors and industry leaders, this nuanced clarification offers cautious optimism. While trading remains off-limits, the legal validation of ownership could inspire discussions about reevaluating China’s stringent policies in the wake of global adoption trends.
DISCOVER: 16+ Next Cryptocurrency to Explode in December 2024
Final Thought’s on China’s Bitcoin Reversal By distinguishing between holding and trading, China may signal a more pragmatic approach toward digital assets.
Though far from lifting its crypto ban, China might be edging closer to recognizing the undeniable impact of blockchain technology on the future economy.
For now, the global crypto community watches closely, aware that any shift in China’s policies could send significant ripples through the market.
EXPLORE: BONK Flips WIF Targets DOGE Crown: Some Traders Are Now Storing Profits In BONK Rather Than SOL
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I lost everything to Melania, bros. $400k. Now I have nothing to put into John McAfee’s scam coin and get out of my part-time McDonald’s shift! RIP.
So, here we are —one week into Donald Trump’s presidency—and, on the crypto side at least, we’ve gotten several meme pump-and-dumps and “Free Ross.”
We’re not complaining. It’s a start. Not a fun one for me. However, this week has a few other highlights, including a 2028 Trump presidential run and BTC Maxi cope from the Strategic Reserve announcement. Here’s what’s happening on this week’s Feel Crappy … I mean Feel Good Friday!
Is John McAfee Alive and Launching a Cryptocurrency? (X) That’s not John McAfee pictured above. It’s his even more deranged little brother Chad Mcafee Jr.
Why Jr.? Because in this family, being ‘Jr.’ means you’re twice as nuts.
Right now, the internet is debating whether McAfee is alive and whether a recently launched AI project and cryptocurrency are his creations. Spoilers: the token is a scam, but the AI project is real; his late wife just confirmed it.
Good morning everyone😊
I hope this video answers everyone's concerns about whether mine and John's account has been compromised. @AIntivirus @officialmcafee pic.twitter.com/uVOyuxnwGV
— Janice Elizabeth McAfee (@theemrsmcafee) January 23, 2025
The McAfee Anti-virus software founder is crazy enough to fake his death, and the “conspiracy” is he just went into hiding. This dude could be alive and well!
Except he’s not. According to his widowed wife, Janice McAfee, John is gone, but his digital ghost lives on. Using an AI-powered account on X called ‘@AIntivirus’, his thoughts stream onto the platform, sparking conversations and keeping his fans engaged with the virtual version of his mind.
If you have bought ANY crypto tokens from ANY MAJOR FIGURE ON X OR TWITTER this week, be careful! Do your own research and make sure that person isn’t a John McAfee pozer.
You think I got hacked? I wrote the damn playbook. Every “hack” you’ve ever heard of is just someone fumbling through tricks I mastered decades ago while chain-smoking on a yacht.
— John (@AIntivirus) January 23, 2025
Trump 2028 Just Became a Reality Rep. Andy Ogles (R-Tenn.) has introduced a constitutional amendment to clear the path for Donald Trump to serve a third term as president. The proposal seeks to rewrite presidential term limits, allowing someone to hold office up to three times, provided they haven’t served more than two consecutive terms.
(X) Franklin Roosevelt is the only U.S. president to break the two-term limit alone. His popularity was such that many believe that had he not died in office, a fifth term was his for the taking.
Kinda feels like Trump, doesn’t it?
Under the 22nd Amendment, Trump is currently barred from seeking a third term, but Ogles argues that the nation needs Trump’s leadership to “reverse decay” and restore stability.
For his part, Trump jokingly floated the idea of a third term during a post-election meeting with House Republicans last year. “I suspect I won’t be running again, unless you do something,” he said, riffing on his recent victory. “Unless you say, ‘He’s so good, we have just to figure it out.’”
BTC Maxi Cope After Strategic Reserve Rejection
Bitcoin maximalists are seething. The US “Strategic Reserve” won’t be BTC but several cryptocurrencies.
The reserve will likely include:
Bitcoin XRP Ethereum Solana Sui Chainlink Cardano You won’t see us crying. We’re not even sure why BTC maxis are seething so hard, but BTC is still on the list. We guess they wanted an exclusive BTC reserve because “there’s no second best.”
Regulating crypto was never solely about Bitcoin.
If BTC is as untouchable as its hardcore maxis say, the market will decide who performs best. That might not be what some of you want to hear, but it’s reality – and that’s coming from someone who holds a lot of Bitcoin,
Well, that’s all we got for Feel Good Friday! Please tune in next week when I make everything back on Melania and reinvest it in Iggy Azalea Coin.
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The conclusions of recent analyses are thought-provoking: what seemed anecdotal a few years ago is now confirmed on a large scale. Behaviors labeled as “desperate” now trace a new path in the financial landscape. Once marginal, crypto is now established as a real escape route for generations excluded from the real estate dream. In the shadow of a crisis that does not name itself, tokens replace bricks. This shift, now documented, redraws the lines of a strained economy.
In brief Young people abandon classic savings, lacking hope to one day buy their own home. For many, crypto becomes a substitute for the American dream that has become out of reach. Traditional finance is seen as complicit in a system that favors speculative bubbles. Cryptos mainly attract those excluded from ownership but still solvent enough to take a chance. When traditional finance becomes a maze, cryptos take over Between soaring rents and frozen wages, the path to ownership resembles a desert crossing. For thousands of young people, classic saving leads nowhere anymore. According to a study, researchers identify a sharp turning point: as soon as the dream of buying fades, the desire to save fades too. Instead, some bet on cryptos, seen as a last lever.
Not out of blind faith in blockchain. But because one has to believe in something when anchors collapse.
Crypto becomes a disruption strategy. It offers the possibility, however slim, to take the social elevator in one transaction. This is summed up by this researchers’ formula:
Crypto becomes a substitute for the American Dream
This shift is not only American. In South Korea and Japan, the scenario repeats. Young people excluded from the real estate market rush into the crypto market. A survival behavior more than a technophile craze. And this shift redraws the borders of personal finance.
The rise of crypto is also explained by the faults of institutional finance. Since 2008, monetary policies have continuously fueled bubbles: artificially low rates, quantitative easing, massive liquidity injections… Result: between 2020 and 2022, real estate prices jumped 40 to 70% in several American cities, as highlighted by Wolf Street.
And while some accumulated assets, others dug deeper into debt.
On X, journalist Ben Norton accuses:
The US housing bubble popped in 2007-08, causing a massive financial crisis. So what did the US do after? It inflated another housing bubble, which is even bigger now. Because the US economy is a financialized house of cards built on asset price bubbles.
Several voices denounce a perverse dynamic: the rich prosper thanks to cycles of crashes. Others bear the losses.
And when the future closes in, professional engagement collapses. The report draws a direct connection between giving up ownership and the “quiet quitting” phenomenon. Young people stay at work, but without passion. The social contract is broken.
Last ticket for hope: cryptos, risks and temptations It’s no coincidence that those with assets between $50,000 and $300,000 are the most active in the crypto market. Too solvent to give up entirely, but too poor to access real estate. Trapped in this “no man’s land,” they seek escapes.
And they are not alone: anonymous voices resonate online. On X, a user sums up :
Let it pop. So much suffering is coming from enabling cheaters be parasitic to eachother. Let the US house of cards self created fall, once and for all.
This silent rage fuels the attraction to cryptos. Not just Bitcoin. Ethereum, Solana, XRP, Dogecoin, Toncoin: all become bets on a better life. A fighting finance, for those whom traditional finance has forgotten.
5 figures and facts to keep in mind: +64%: increase in house prices in Austin (TX) between 2020 and 2022; +210%: price rise in Sarasota (FL) over 10 years; 24%: price drop observed in Austin since the peak; $2.25 trillion: assets held by the Fed at the end of 2008 (versus $950 billion in September); $50,000 to $300,000: asset bracket with the highest crypto participation. Because of the crisis, more and more young people seek to reshuffle the cards. They no longer dream of real estate, they dream of returns. Especially when it comes to preparing their retirement differently. And in this new game, crypto is no longer a wild card: it becomes a long-term strategy.
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Mikaia A.
La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
PANews reported on March 12th that it will host a Space event at 8 PM tonight titled "The Shrimp Farmers Alliance: Tencent's Entry, Government Subsidies, Xianyu's Outsourcing—How Does the Crypto Community Cope with 'Shrimp' Anxiety?" Hosted by senior PANews reporter Frank, the event will feature in-depth discussions with Pundi AI founder Danny, ResearchNothing partner 0xTodd, Biteye/XHunt/XClaw founder DeFi Teddy, and SlowMist operations manager Lisa. Topics will include real-world user experience with OpenClaw, the security boundaries of on-chain transactions using AI Agents, application scenarios within the crypto industry, and comparisons between domestic and international ecosystems.
Space live stream address: https://twitter.com/i/spaces/1pKdRbVZrNQJW
Dive deep into Velas’ role in the crypto sphere with our comprehensive analysis of Velas price predictions for 2024 and its long-term growth potential.
In the crypto market dominated by Bitcoin (BTC) and Ethereum (ETH), Velas (VLX) is gaining traction among investors and enthusiasts looking to diversify their portfolios.
We looked into Velas price predictions for 2024 and what they suggest for this digital asset’s future. We also examined the long-term price prediction for the Velas coin.
Is Velas a good investment? Will the Velas price rise or fall? And for those considering Velas for their portfolio: Is it a wise choice? Let’s explore these questions, analyzing the potential investment outlook for the coin.
What is Velas (VLX)? Combining the flexibility of Ethereum and transaction speeds reminiscent of Solana (SOL), Velas is a blockchain platform designed to be the bedrock for smart contracts and decentralized applications (dapps).
Domiciled in Switzerland, this blockchain enterprise has crafted an ecosystem operated by artificial intuition-delegated proof of stake (AIDPoS).
It has set itself apart by allowing for interoperability and scalability, with secured transactions reportedly reaching up to 75,000 per second. According to the platform’s developers, it also has confirmation times capped at 1.2 seconds.
The network’s introduction of an EVM-compatible mainnet in 2020 signified a major leap in facilitating seamless transitions for Ethereum-based dapps and decentralized finance (defi) protocols into its domain.
Velas has seemingly positioned itself as a decentralized utopia for developers, eliminating the burden of back-end fees and allowing them to innovate without financial impediments.
Its native token, VLX, stands at the heart of the platform’s economy, serving a trifold purpose: staking for block validation with a flexible delegation mechanism, fueling the ecosystem’s services, like BitOrbit, and acting as a tradable asset within exchanges such as HitBTC.
Overview of the Velas ecosystem Alex Alexandrov and co-founder Farkhad Shagulyamov conceived the Velas blockchain ecosystem in 2019, hoping it would stand at the forefront of technological innovations tailored for everyday use.
The vital underpinnings of the Velas blockchain include a consensus mechanism known as proof of history (PoH) that streamlines blockchain chronology.
It also features an optimized algorithm to bolster blockchain efficiency known as Tower BFT, as well as a suite of technologies including Turbine, Gulf Stream, Sealevel, Pipelining, Cloudbreak, and Archivers, which are focused on enhancing transaction speed, smart contract operations, database management, and decentralized storage solutions.
The Velas network hosts hundreds of applications and projects, including WagyuSwap, a decentralized exchange that reportedly offers users remarkably low transaction fees.
Meanwhile, another project, BitOrbit, is trying to push the envelope in social media, empowering privacy-conscious creators to monetize content sans intermediaries and engage users on a secure, direct-supporting platform.
Furthermore, the Velas ecosystem’s compatibility with Ethereum means a seamless functionality transfer between the two, encompassing defi services, non-fungible tokens (NFTs), and gaming.
It is essentially an invitation to Ethereum-based applications to capitalize on the burgeoning smart contract environment on Velas and reap the benefits of relatively lower transaction costs compared to other EVM-compatible blockchains and a staking feature that allows holders to earn interest from their VLX tokens.
Velas has captured numerous other projects—from AstroSwap’s trading innovations on the Cardano (ADA) chain to Autofarm’s yield aggregation—and a slew of NFT collections, such as Velas Punks and Velas Dogs.
Additionally, the network not only fosters tech developments but also grants programs and financial sustenance, striking partnerships and evoking interest in a broad spectrum of crypto enthusiasts.
Velas price prediction: short-term outlook So, how do the developments in the Velas ecosystem affect the VLX price predictions? At the time of writing, Velas boasted a market capitalization of approximately $51 million and was ranked #535 on CoinMarketCap.
VLX 30-day price chart | Source: CoinMarketCap Per data from the crypto price tracker, VLX has performed dismally over the last 30 and 14-day periods, shedding more than 22% of its value in the month and 17% over the fortnight. However, the last seven days have been much rosier, with VLX recouping at least 6% of its lost value.
Now, let’s take a journey into the future of VLX price predictions for 2024. Fueled by deep-learning algorithms and technical analysis, insights from CoinCodex suggest a possible rise to $0.021257 by Feb. 18, with the overarching sentiment being neutral.
On its part, PricePredictions.net’s short-term VLX projections, specifically in 2024, suggest a moderately positive trend, with the token potentially reaching a minimum price of $0.0286 and possibly surging to a maximum of $0.0328, settling around an average price of $0.0296 during the year.
It suggests a year of stabilization and incremental gains, indicating cautious interest from the investor community.
Velas coin price prediction: long-term possibilities Looking further into the future toward the Velas price prediction for 2025, the coin is expected to gain stronger momentum, with PricePrediction estimating a minimum potential value of $0.0406.
According to the website, VLX’s growth expectations may push prices up to $0.0493, with an average forecast price of $0.0418.
Price forecasts stretching into the next decade predict a steady ascent, with PricePrediction.net again projecting a notable rise with a minimum, average, and maximum Velas price prediction for 2030 of $0.2585, $0.2677, and $0.3071, respectively.
The bullish sentiment is expected to carry forward, with the Velas price forecasts for 2026 predicting lower and upper price bands of $0.0584 and $0.0702, respectively, with an average price hovering around $0.0601. Continued adoption and technological developments could be key drivers of this trend.
By 2027, predictions start to reflect more robust confidence in VLX, signaling a minimum worth of $0.0849, a maximum reach of $0.1022, and average trading values consolidating around $0.0873.
Moving into 2028 and beyond, PricePrediction’s deep technical analysis anticipates further growth, with its Velas crypto price predictions for 2028 indicating a substantial rise to a minimum of $0.1212 and a possible peak at $0.1456, averaging at $0.1256.
The positive trend continues through 2029, forecasting a potential minimum of $0.1780 and a maximum of $0.2139, with average prices likely to be around $0.1843.
Coming to the long-term Velas price forecast for 2030, the culmination of the decade could witness VLX at a minimum level of $0.2585, potentially reaching up to $0.3071, with the mean price settling at $0.2677. It suggests a decade of solid growth, with Velas potentially carving out a significant position within the crypto landscape.
In conclusion As VLX finds its place in the unpredictable crypto world, potential investors must conduct thorough research and analysis. While we provide hopeful insights, it’s important to approach them skeptically, acknowledging the inherent risks of digital asset investment.
Therefore, investors should exercise caution, gathering information from various sources and seeking advice from financial experts when necessary.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
FAQs Is Velas a good investment? Technical analysis of Velas price anticipates further growth. Yet, the potential of any cryptocurrency, including Velas, depends on various factors like market trends, technology, and community support. As with any investment, it’s important to research and consider your risk tolerance before investing thoroughly.
Will Velas go up or down? Short-term VLX projections for 2024 suggest a moderately positive trend. The long-term forecast for 2030 suggests a decade of solid growth. However, the price of Velas, like all cryptocurrencies, is subject to volatility and can fluctuate widely due to market conditions. Monitoring market analysis and news that could influence its price movements is advisable.
Should I invest in Velas? Velas is gaining traction among investors and enthusiasts looking to diversify their portfolios. However, deciding to invest in Velas should be based on personal financial goals and due diligence. Consider consulting with a financial advisor to understand if it aligns with your investment strategy and risk profile.
No wallet, no gas – Evrloot brings seamless blockchain gameplay to all players. Evrloot, the anticipated blockchain-based RPG (role-playing game), is set to exit its closed beta and officially launch with a free-to-play campaign at the end of November 2024.
Developed by a global team of 13 passionate builders, Evrloot offers a rogue-like, light-MMO experience in a medieval fantasy world, combining deep gameplay with innovative on-chain mechanics.
Evrloot distinguishes itself from most Web 3.0 games with a unique approach – build a fun on-chain game first, talk later.
The game empowers players by treating NFTs as save games, making progress and achievements tangible and tradable on-chain.
Players’ in-game experiences – whether mastering fishing or crafting a powerful weapon – are captured as soulbound or equipable ERC-6220 – essentially NFTs 2.0 that can be seamlessly accessed across ecosystems, ensuring every victory stays with the players.
Players will have the opportunity to explore idle missions, tactical auto-battler dungeons and on-chain crafting systems.
Key features include the following.
Idle missions – Players can deploy special bait to send their character on a six-hour fishing expedition, offering the chance to discover rare items. Crafting – Resources such as fish and herbs can be combined to mint health potions. Tactical dungeons – Players equip their loot to navigate dangerous dungeons. Only those who exit safely keep their spoils, which are minted on-chain. NFT trading marketplace – Valuable items, such as a ‘damaged battle axe,’ can be exchanged for health potions and other resources through the game’s native marketplace. Evrloot began as a passion project from Polkadot fans who believed NFTs could do more than just exist as collectibles.
The game has grown steadily during its beta phase, recording over 1.5 million on-chain transactions on Kusama and Polkadot and fostering a community of around 400 NFT owners.
It peaked at 1,000 MAU (monthly active users) during the successful ‘Pink Event.’
For the full release, the game will launch on Moonbeam, with a seamless onboarding experience featuring wallet and gas abstraction.
Evrloot’s launch prioritizes accessibility. Players can dive into the full gameplay experience without barriers – no crypto wallet or upfront payment required.
As they progress, players have the option to upgrade their free-to-play characters to NFTs for enhanced features.
However, the game ensures that free players enjoy the complete experience without any pressure to upgrade.
Tobi ‘Deckard’ Amann, CEO of Chainfood Studio, the developers of Evrloot, said,
“Our goal with Evrloot is to create an immersive and thrilling dark fantasy Web 3.0 world that prioritizes fun and player enjoyment, transforming the world into a canvas for its players.
“Through their in-game actions, players shape the story and forge the lore of this world.
“As RPG enthusiasts, creating a canvas like this has always been our dream – and with Evrloot, we’ve found an exciting and ethical opportunity to bring our vision fully on-chain.”
Sicco Naets, head of ecosystem development at Moonbeam, said,
“I am very excited to see Evrloot enter its next growth phase.
“Chainfood Studio has a very special game in Evrloot with a fiercely loyal community – moving to a free-to-play model will give them a lot more exposure and will allow a lot more players [to] discover what makes this game so special.”
Evrloot’s player onboarding uses a gamified affiliate campaign. Players join in-game clans that link back to the affiliates that brought them to the game.
Being part of an active in-game clan not only shows player alliance with existing communities – it boosts the points they can potentially earn that are important for phase two of the campaign.
Players join for free and can optionally upgrade to one of 1,299 exclusive NFT 2.0 characters.
With ‘freemium’ upgrades, cosmetics and marketplace fees driving the business model, Evrloot offers a sustainable economy without compromising the player experience.
While Evrloot operates without a token at launch, players are able to gather points by completing tasks and referring friends.
Evrloot will also run a giveaway campaign to coincide with the game’s launch.
Players who participate in specific in-game activities will have the chance to win one of three exclusive merch packs, featuring original hand-drawn concept art on handmade medieval paper, an Evrloot t-shirt and stickers.
Players can enter by joining the ‘???’ clan for at least one day between the release date and December 21, 2024.
Winners will be drawn on December 21 and contacted via X (if linked in-game).
For more information, users can follow Evrloot on social media for the most current updates.
About Evrloot Evrloot is a blockchain-based RPG with a medieval fantasy setting, developed by a global team passionate about ethical Web 3.0 gaming.
Combining engaging gameplay with NFT-based mechanics, Evrloot allows players to keep their progress on-chain and trade assets in a dynamic marketplace.
Built on Moonbeam, Evrloot aims to redefine blockchain gaming with fun, accessibility and sustainability at its core.
About Polkadot Polkadot is the powerful, secure core of Web 3.0, providing a shared foundation that unites some of the world’s most transformative apps and blockchains.
Polkadot offers advanced modular architecture that allows developers to easily design and build their own specialized blockchain projects, pooled security that ensures the same high standard for secure block production across all connected chains and apps connected to it and robust governance that ensures a transparent system where everyone has say in shaping the blockchain ecosystem for growth and sustainability.
With Polkadot, users are not just participants – they’re co-creators with the power to shape its future.
Contact Jonathan Duran, communications and PR manager at Distractive
[PRESS RELEASE – Boston, Mass, December 5th, 2024]
No Wallet, No Gas – Evrloot Brings Seamless Blockchain Gameplay to All Players
Evrloot, the anticipated blockchain-based RPG, is set to exit its closed beta and officially launch with a Free-to-Play campaign at the end of November 2024. Developed by a global team of 13 passionate builders, Evrloot offers a rogue-like, light-MMO experience in a medieval fantasy world, combining deep gameplay with innovative on-chain mechanics.
Evrloot distinguishes itself from most Web3 games with a unique approach: Build a fun on-chain game first, talk later. The game empowers players by treating NFTs as save games, making progress and achievements tangible and tradeable on-chain. Players’ in-game experiences—whether mastering fishing or crafting a powerful weapon—are captured as soulbound or equipable ERC-6220, essentially NFTs 2.0 that can be seamlessly accessed across ecosystems, ensuring every victory stays with the players.
Players will have the opportunity to explore idle missions, tactical auto-battler dungeons, and on-chain crafting systems. Key features include:
Idle Missions: Players can deploy special bait to send their character on a six-hour fishing expedition, offering the chance to discover rare items. Crafting: Resources such as fish and herbs can be combined to mint health potions. Tactical Dungeons: Players equip their loot to navigate dangerous dungeons. Only those who exit safely keep their spoils, which are minted on-chain. NFT Trading Marketplace: Valuable items, such as a ‘Damaged Battle Axe,’ can be exchanged for health potions and other resources through the game’s native marketplace. Evrloot began as a passion project from Polkadot fans who believed NFTs could do more than just exist as collectibles. The game has grown steadily during its beta phase, recording over 1.5 million on-chain transactions on Kusama and Polkadot and fostering a community of around 400 NFT owners. It peaked at 1,000 Monthly Active Users (MAU) during the successful “Pink Event.” For the full release, the game will launch on Moonbeam, with a seamless onboarding experience featuring wallet and gas abstraction.
Evrloot’s launch prioritizes accessibility. Players can dive into the full gameplay experience without barriers—no crypto wallet or upfront payment required. As they progress, players have the option to upgrade their free-to-play characters to NFTs for enhanced features. However, the game ensures that free players enjoy the complete experience without any pressure to upgrade.
Tobi “Deckard” Amann, CEO of Chainfood Studio, the developers of Evrloot shared, “Our goal with Evrloot is to create an immersive and thrilling Dark Fantasy Web3 world that prioritizes fun and player enjoyment, transforming the world into a canvas for its players. Through their in-game actions, players shape the story and forge the lore of this world. As RPG enthusiasts, creating a canvas like this has always been our dream—and with Evrloot, we’ve found an exciting and ethical opportunity to bring our vision fully on-chain.”“I am very excited to see Evrloot enter its next growth phase. Chainfood studio has a very special game in Evrloot with a fiercely loyal community – moving to a Free-To-Play model will give them a lot more exposure and will allow a lot more players discover what makes this game so special.” said Sicco Naets, Head of Ecosystem Development at Moonbeam.
Evrloot’s player onboarding uses a gamified affiliate campaign. Players join in-game clans that link back to the affiliates that brought them to the game. Being part of an active in-game clan not only shows player alliance with existing communities, it boosts the points they can potentially earn that are important for Phase II of the campaign. Players join for free and can optionally upgrade to one of 1299 exclusive NFT 2.0 Characters.
With freemium upgrades, cosmetics, and marketplace fees driving the business model, Evrloot offers a sustainable economy without compromising the player experience. While Evrloot operates without a token at launch, players are able to gather Points by completing tasks and referring friends.
Evrloot will also run a giveaway campaign to coincide with the game’s launch. Players who participate in specific in-game activities will have the chance to win 1 of 3 exclusive merch packs featuring original hand-drawn concept art on hand-made medieval paper, an Evrloot T-shirt, and stickers. Players can enter by joining the “⭕️” clan for at least one day between the release date and December 21st. Winners will be drawn on December 21st and contacted via X (if linked in-game).
For more information, users can follow Evrloot on social media for the most current updates.
About Evrloot
Evrloot is a blockchain-based RPG with a medieval fantasy setting, developed by a global team passionate about ethical Web3 gaming. Combining engaging gameplay with NFT-based mechanics, Evrloot allows players to keep their progress on-chain and trade assets in a dynamic marketplace. Built on Moonbeam, Evrloot aims to redefine blockchain gaming with fun, accessibility, and sustainability at its core.
About Polkadot
Polkadot is the powerful, secure core of Web3, providing a shared foundation that unites some of the world’s most transformative apps and blockchains. Polkadot offers advanced modular architecture that allows devs to design and build their own specialized blockchain projects easily, pooled security that ensures the same high standard for secure block production across all connected chains and apps connected to it, and robust governance that ensures a transparent system where everyone has say in shaping the blockchain ecosystem for growth and sustainability. With Polkadot, users are not just participants, they’re co-creators with the power to shape its future.
