Dogecoin continues to slide lower, but has now reached price levels that hold historical significance.
The Dogecoin (DOGE) price struggles mirror a broader market downtrend. With Bitcoin sliding below $63,000 amid Strategy’s STRC preferred stock’s drop to $84 on Thursday, the crypto sector has followed suit.
The meme coin is down 1.3% already at the time of writing, building on its nearly 3% drop on Thursday. Since this week, DOGE has dropped 7%, as bears remain in full control of the market. Meanwhile, the meme coin is now approaching a zone that once sparked a price recovery.
Dogecoin at Historical Accumulation Zone On the weekly chart, Dogecoin has drifted back into a price region that once acted as a foundation for a major price move. Since dropping to $0.080 in early February, the token appears to have started forming a price range.
Dogecoin 1W Chart/TradingView Its price rebounded to $0.118 in May, but faced selling pressure there, forcing a retracement. Now, Dogecoin has retested the support level near the February lows. In the first week of June, DOGE slumped to $0.077 before bulls stepped in to prevent further downside.
Currently, it trades at $0.082, still around this key weekly support. This places the meme coin at a critical point in its long-term structure.
Notably, the current setup resembles a previous period when DOGE spent months consolidating near a multi-year support before eventually breaking into a stronger upward trend.
For context, between May 2022 and February 2024, prices remained close to the lower boundary of a broad accumulation range. Dogecoin hovered around the $0.050 support before eventually breaking out to December 2024’s high of $0.484.
Long-Term Support Remains Intact What stands out is that Dogecoin continues to respect the current support around $0.080. Despite the current price weakness, every downtrend has ultimately found relief near this zone, preventing a deeper structural breakdown.
DOGE broke above the current support in February 2024 and has since not fallen below it. Notably, a quick pullback in August 2024 ended in a lower-price rejection. The asset is again testing an area that has historically attracted long-term accumulation.
Interestingly, similar conditions occurred before the recovery in the previous cycle. The extended periods of weakness gradually gave way to renewed momentum because Dogecoin did not lose key support levels.
Dogecoin Breakout Targets Higher Prices If this $0.080 support area continues to hold, the focus will shift toward whether DOGE can reclaim higher resistance levels and establish a new upward trend. A decisive move away from the current range to reclaim key moving averages is a good start.
One of the important resistance levels to watch for long-term recoveries is the March 2024 high of $0.228, a 178% growth from here. Another one is the September 2025 high of $0.306, representing a 273% increase from the current price.
An 802% price surge to the current all-time high of $0.74 is a possibility if bullish momentum sustains. Meanwhile, the $1 dream could still come true. If the broader market enters a prolonged uptrend and the 2021 market conditions repeat, DOGE could explode by 1,120% to the long-anticipated price level.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Groestlcoin (GRS) is a rather strange sounding cryptocurrency that has been receiving quite a bit of interest lately.
It was launched back in March of 2014 as a proof-of-work coin just like Bitcoin, and like Bitcoin it was created as a payment and transactional cryptocurrency. It boasts having almost zero fees, the coin is semi-anonymous, and it is one of a few coins that remains ASIC-resistant.
However, can the coin compete with some of its newer rivals?
In this Groestlcoin review I will give you what you need to know about the project's technology, development and mining. I will also take a look at the long term growth potential of the GRS token and whether it could develop wider use cases and adoption.
Groestlcoin TechnologyGroestlcoin was created strictly as a peer-to-peer (P2P) payment cryptocurrency just like Bitcoin and Litecoin. That said, it has some unique attributes that distinguish it from Bitcoin and Litecoin.
Because of these unique attributes Groestlcoin was able to achieve several important “firsts” in the cryptocurrency ecosystem. It was the first coin to implement Segregated Witness and it was also the first to perform a Lightning Network transaction on the mainnet. That’s partially because the Groestlcoin development team has been active and hardworking since day 1, releasing major development updates every 3 months like clockwork.
Groestlcoin compared. Image via docroid
The developers have also created a wallet called Samourai that allows for anonymous Groestlcoin transactions. The wallet was created with support for Tor and VPN, it doesn’t recycle addresses, and has on-board AES-256 encryption. There’s also a stealth mode to the mobile application that causes it to disappear from your phone’s app list, launcher and home screen.
In addition to the Samourai wallet you’ll find a wallet for nearly any platform you could want. There are desktop wallets for Windows, Linux and OSX. There are mobile wallets for Android, iOS and Blackberry. And there are web based and ChromeOS wallets. For those who like using the same wallet on several platforms there’s the GroeslPay wallet.
Groestlcoin is also very proud of the fact that its transactions are nearly free. You can send 10,000 GRS and the cost will be far less than a penny ($0.00007 to $0.0003 as a matter of fact). The transaction cost varies based on the wallet you’re using, with the cheapest transactions coming from the Core Groestlcoin wallet.
Groestlcoin MiningWhen it comes to the hashing algorithm, the coin uses the Grøstl-512 mining algorithm, which is where it got its name. It is a less complex algorithm than Bitcoin's SHA-256. This means that it can still be mined on GPUs which makes it easier for home miners.
Groestlcoin uses two rounds of pure Grøstl-512 which makes it ASIC resistant. Currently, there are no ASICs that are in production to mine it. Apart from the benefits that this has for GPU miners, it also means that the coin is relatively more decentralised than its larger Bitcoin cousin.
The Groestlcoin developers have also created some simplified mining software which makes it easier for the community to mine GRS with their CPU / GPU. This is the Groestlcoin easyminer that was coded from the ground up and it has a number of useful features. You can follow these instructions if you want to set up the software on your PC.
Groestlcoin began with a mining reward of 512 GRS per block, with a halving occurring every week. That halving occurred until the block reward got to 5 GRS per block, which is where it is now and where it will stay until all GRS have been discovered.
There is a maximum supply of 105 million GRS and so far just over 72 million are in circulation. Groestlcoin has 1 MB blocks and block times of just 1 minute. This gives it 80 transactions per second, and the developers have said they will increase the block size if more transactions per second are needed.
Team MembersGroestlcoin was launched on March 22, 2014 by an anonymous developer with the username Gruve_P on the Bitcointalk forum. Since that time the team has grown to include over 20 dedicated individuals from all over the world. The team members remain anonymous, with most sharing only their first name and country of origin.
Some of anonymous Groestlcoin Team Members
While that might raise a red flag for some cryptocurrency projects, that hasn’t been the case for the Groestlcoin team. The fact that they have consistently released development updates every three months has given the team acceptance and trust from the cryptocurrency community.
That dedication is also what allowed Groestlcoin to be the first to implement SegWit and the first to conduct a mainnet transaction on the Lightning Network. More quick and impressive developments can be expected in the future too.
Community involvement is often a potent ingredient in the adoption of a cryptocurrency.
The Groestlcoin is quite an active and involved one. For example, there have been many calls for rebranding as the community doesn’t feel a cryptocurrency with such a strange name can enjoy widespread adoption, but so far it doesn’t look like any name-change is forthcoming.
Taking a closer look at the size of this community, they have over 38,000 Twitter followers, which isn’t bad and over 8,000 Facebook page likes, which is pretty large for a crypto project since Facebook isn’t really the platform for following cryptocurrency.
The platform that is for following cryptocurrency is Reddit, and you can see the enthusiasm for Groestlcoin when you look at the sub-Reddit for the project as it has over 100,000 followers. There are daily posts and loads of comments and at any time there will be several thousand followers online.
The GRS TokenNot surprising given the cryptocurrency markets, the price of GRS has been on a rollercoaster ever since its introduction in 2014. In fact, in a space known for volatility, GRS is far more volatile that most cryptocurrencies.
Everything was fairly calm in the early years, with the price of one GRS hovering between $0.002 and $0.003 until the beginning of 2017. That’s when the coin first broke out and volatility became the norm.
Register at Binance and Buy GRS Tokens
From early 2017 until July 13 the price went from $0.001 to a high of $0.41 before crashing. Over the next three months price declined steadily to reach $0.08 by October 22. And then it took off higher once again, reaching $0.85 in just 9 days! That spike came as cryptocurrency investors became increasingly interested in ASIC-resistant coins.
Price pulled back modestly in November, but then got caught up in the fever surrounding cryptocurrencies at the end of 2017, which took it to an all-time high of $2.69 on December 21, 2017.
During the 2018 bear market in cryptocurrencies GRS remained in fairly good standing, and even rallied in April and May. However, by February 2019 the price briefly touched levels below $0.20.
More recently price is seeing another jump, going from $0.25 on March 10, 2019 to $0.74 on March 11, 2019 after the Groestlcoin team announced the release of a GRS Mastercard debit card that can be used for purchases, or withdrawals at ATMs. Price has rapidly come off those highs, and as of March 17, 2019 it is at $0.416770.
GroestlPay mobile wallet features and benefits. Image Source
As mentioned earlier the Samourai wallet is a great place to store Groestlcoin, as is the GroestlPay wallet. One of the great things about Groestlcoin is you’ll find a wallet for nearly any platform you could want.
If you feel ready to buy some GRS you can find it on Upbit, Binance, and Bittrex and the liquidity on these exchanges is quite substantial. It’s also available on a number of other exchanges, but trading volumes are quite small on these.
Of course, if you have a reasonably powerful computer on you then you can always fire up the easyminer and start hashing for some GRS. Even with added competition the developers claim that mining GRS with a CPU / GPU is still profitable.
DevelopmentThere is one great rule of thumb that you can use in order to determine how much development work is being done on a project. This is to take a look into the project's GitHub repositories and see how much code has been pushed.
Moreover, given that Groestlcoin is an open-source project, their GitHub is fully public which makes it easy for the community to view the code. I decided to jump into their repositories and take a look at the number of commits they have pushed into their core, electrum and lightning repos.
Commits over past 12 months for chosen repositories
As you can see above, there has been extensive activity in these repositories. These are also only a small selection of the countless other repositories of the project. These are more commits than we have seen for a number of the newer coins that completed ICOs in the past 2 years.
As a point of comparison, Groestlcoin ranks 47 in commits to their core repo when compared to other projects. This places them above the likes of other privacy coins such as Monero (XMR) and Zcash (ZEC).
So, all together a very active project with a great deal of development taking place. This is perhaps understandable when placed in the context of their pretty extensive roadmap.
RoadmapThe Groestlcoin team keeps a pretty extensive roadmap with a detailed list of features and integrations that are due to be implemented. For example, below are just some of the upcoming features that they hope to releasing this year.
Upcoming features for 2019
Whether the developers will be able to meet these timelines I cannot be certain of. However, if you are to take a look into the updates that they have pushed over the past 5 years, they have broadly been in line with the Roadmap timeline.
There are also a number of other features that they have put on their 2019 Roadmap although these have not been given a specific timeline. The team also has a list of features and functions that they have placed in their development wish list.
Some of the most interesting of these include the likes of confidential transactions, Schorr signatures and atomic swaps. Confidential transactions will increase the privacy of the coin whereas Schnorr signatures will make these transactions more efficient. The off-chain atomic swaps will allow you to exchange GRS for other coins such as Bitcoin etc.
So, it seems as if there is a great deal that we can look forward to over coming year. Groestlcoin has also supplied a handy development progress page that you can use to monitor the stages of completion for the various updates that I have mentioned above.
ConclusionWhile it may not be in the top 100 cryptocurrencies, Groestlcoin has a solid history of development, and the team is working towards improving on Bitcoin and making a better peer-to-peer payment system.
The improvements so far include the nearly fee-less transactions of Groestlcoin, the continuing ASIC-resistance, and the continuing regular development to keep the cryptocurrency at the forefront of advancing blockchain technology.
One thing possibly holding the project back is its name, which isn’t user-friendly. If the team decided to re-brand and begin a marketing campaign it could be just what the project needs to catapult it into the top 100 cryptocurrencies.
This is especially true since they launched their Mastercard debit card, as this type of integration with the traditional financial systems is something needed for mainstream adoption. It’s just another sign of Groestlcoin being a first-mover.
Time will tell if they are able to capitalize on the advantage.
**December 2 Update** South Korean crypto exchanges Bithumb and Upbit announced the same day they will list Grostlcoin (GRS) as a "Trade Caution" project and suspend deposits simultaneously. DAXA, the self-regulatory body for Korean exchanges, noted in its review that the GRS project team failed to disclose sufficient key information impacting the token’s value. The project’s actual progress also showed multiple non-compliant issues, posing a potential risk of harm to investors.
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MXC, the native token of the Layer 3 blockchain platform Moonchain, surged as much as 247% recently, thanks to the reactivation of its mining program and a wave of ecosystem updates.
According to Coingecko data, Moonchain (MXC) reached an intraday high of $0.00525 on the morning of May 29, Asian time, pushing its market cap past $11.6 million. When writing, the token was up 675% from its lowest point this year, marking one of its strongest moves in 2025 so far.
MXC crypto also recorded a sharp uptick in trading activity, with daily volume spiking over 500% compared to the previous day, reaching nearly $22.5 million, signalling a flood of new interest and momentum.
What’s behind the rally? There are three main catalysts driving MXC’s breakout:
First, the Moonchain team officially reactivated MXC mining on its network using MatchX’s M2 Pro and NEO miners, following a temporary outage on May 21. This reactivation also came after a community poll conducted by MatchX on X on May 19, where 97.9% of participants voted in favor of resuming MXC mining.
For context, MatchX is a German tech company that builds low-energy mining hardware specifically for the Moonchain ecosystem. Their devices help power Moonchain’s data infrastructure and allow users to earn MXC by participating in its Proof of Participation (PoP) system.
Second, Moonchain teased the upcoming launch of its Initial Hardware Offering (IHO). This campaign will send out free physical mining devices, possibly wearables like smartwatches or rings, to Moonchain token holders using an Ethereum smart contract.
According to the project’s Q2 2025 roadmap, the IHO will also include “health-based” mining devices and limited-edition high-hash-rate models to reward users who lock up their tokens early. Distribution hubs are also being set up in key regions to ensure faster deliveries.
Third, Moonchain recently completed an integration with OKX Wallet, a leading multi-chain wallet in the Web3 space. The integration allows users to easily access Moonchain’s dApps, staking features, and token tools across mobile, browser, and Telegram.
With OKX Wallet’s support for over 1,000 protocols, the move better positions both existing and new users to engage with the ecosystem.
What Is Moonchain? For those unfamiliar, Moonchain is a Layer 3 blockchain platform that combines AI, IoT, and DePIN (Decentralized Physical Infrastructure Networks). Its native token, MXC, powers transactions within the network, supports an inter-chain NFT marketplace, and rewards participants via its energy-efficient Proof of Participation model.
The project also features MXProtocol and is building on Ethereum’s Layer 2 tech, including its own zkEVM, to improve compatibility with existing Ethereum-based apps. This positions Moonchain as a solid pick for developers working on real-world use cases, especially in smart devices and data-sharing networks.
MXC price outlook On the technical side, MXC has broken out of a multi-month descending channel, which often signals the start of a potential new uptrend. It also held above the key 61.8% Fibonacci retracement level at $0.0048 before cooling off to around $0.0041 at press time.
MXC price, MACD and RSI chart — May 29 | Source: crypto.news Momentum indicators support the bullish case. The MACD lines are crossing upward, and the Relative Strength Index is in the overbought zone, often a sign of sustained buying pressure and strong buyer conviction in an emerging uptrend.
However, overbought conditions can also bring short-term selling pressure if traders begin to lock in profits.
If MXC continues upward, the next likely target is around $0.0061, a key level it failed to reach in its earlier push. But if it drops below the $0.0030 support, it could slide further down toward the $0.00060 range, which is currently acting as a psychological support zone.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Moonchain is a token that has seen a big bullish wave recently and pumped over 300% in the past week. Investors are keen to see if there is more upside left to this token, as the crypto market in general, has a bullish sentiment these days.
Let’s find out the short-term and long-term price forecast in this Moonchain price prediction.
Table of Contents
What is Moonchain?Moonchain price predictionMoonchain coin price prediction: short-term outlookMoonchain price prediction 2025Moonchain price prediction 2030 Since its launch, Moonchain (MXC) has seen an all-time high of $0.030019, followed by a 1016.96% drop in price. At the time of writing, it is now trading at $0.002669, which is around a 328% decrease from its price of $0.011562, which was recorded four months ago in December 2024.
MXC 1d chart | Source: crypto.news In this article, we’ll discuss MXC price prediction by giving you its short-term and long-term price forecasts and exploring whether this token can continue its bullish run.
What is Moonchain? According to the project’s official whitepaper, Moonchain is designed to function as the Ethereum of artificial intelligence (AI), decentralized physical infrastructure networks (DePIN), and the internet of things (IoT). Moonchain, in contrast to other blockchains, is specifically made to enable DePIN, AI, and IoT scalability. At the front of the Web3 revolution, our team of seasoned developers and blockchain specialists is pushing the envelope of what is feasible.
Its core features include:
IoT/DePIN Scaling: Making IoT and DePIN applications more scalable by utilizing the Moonchain (MXC) token as the infrastructure’s underlying base. Numerous Uses: Giving programmers the ability to create, test, and launch any application on the Moonchain Layer 3 blockchain. Advanced Features of Tokens: Using cutting-edge protocols like MEP-600 to enable Sensor Token Offerings (STOs) and NFT issuances for tangible assets Now let’s discuss MXC price prediction for this year and in the coming years as well.
What can be a realistic projection for the MXC token? Let’s dive into the MXC price prediction for 2025 and 2030.
Moonchain coin price prediction: short-term outlook According to CoinCodex’s Moonchain price prediction for the near future, the token is projected to drop by -0.58% and reach $0.002614 by July 2, 2025.
As of June. 3rd, 2025, the overall sentiment of the MXC price outlook has turned slightly bullish, with 13 technical analysis indicators showing bullish signals, 11 indicating bearish trends, and 10 indicators showing neutral forecasts.
Moonchain price prediction 2025 For the remaining months of 2025, DigitalCoinPrice predicts that the MXC token’s price could fluctuate between $0.0199 and $0.0487, and may likely hold a yearly average of $0.0440.
CoinCodex projects that the MXC token can trade in the price channel of $0.002542 and $0.002614 in 2025.
While the general sentiment in the financial markets is that 2025 will be the year of the bull, it is important to understand that this prediction also has a chance of being wrong. BTC has already breached the $100k mark, and there is a possibility that it may be at the top of this bull cycle.
Hence, it is advised to do your research before investing in MXC or any other cryptocurrency with the hopes of gaining on your investment in 2025.
Moonchain price prediction 2030 As per CoinCodex’s Moonchain crypto price prediction for 2030, MXC’s price could vary between $0.003633 and $0.003647.
DigitalCoinPrice expects that MXC’s price could climb to $0.11 or $0.12 by the end of 2030.
Before trusting any source that is trying to predict the MXC price prediction for 2030, you should understand that it is a cryptocurrency and, like all other tokens, the MXC token’s price can be highly volatile.
2030 is five years away, and many cryptocurrencies can become obsolete in that time. This is why it is hard to give a realistic price prediction for any token, including MXC. A great way for MXC to survive these five years and continue its ascent in the crypto market is to continue building its blockchain technology and partner with key players in the digital crypto space. You should research and keep yourself updated with the latest developments in the upcoming years to make an informed investment decision in the MXC token.
Is Moonchain a good investment? Before investing in any cryptocurrency, including MXC, please identify and understand the inherent risks that can come due to market volatility. Also, it should be noted that the sentiment in the cryptocurrency market changes quickly, and a token that was once considered the future may also be delisted from major exchanges. Hence, it is advisable to do your research on the token’s fundamentals before having any price expectations for the future of the MXC token.
Will Moonchain go up or down? Cryptocurrencies in general experience rapid price swings that are directly driven by market sentiments, community engagement, events like token burns, and so on.
While it is hard to determine how high the MXC token will go, it is important to look out for potential buying factors that may include new partnerships, increased token holders, or viral campaigns in general.
It is also vital that you rely on financial experts and consult them for Moonchain price prediction, but even after all that, you should remain cautious, as no one can accurately predict how high or low MXC can go.
Should I invest in Moonchain? Before investing in any cryptocurrency or trusting any Moonchain price forecast, please identify and understand the inherent risks that can come due to market volatility. Also, it should be noted that cryptocurrencies in general are a highly speculative investment, and their success not only relies on market volatility but also on the constant and sustainable growth of their community. Hence, it is advisable to do your research on the token’s fundamentals, which may very well decide the future of the MXC token.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
MXC price has reclaimed a key level around $0.0040 and keeps holding above it, potentially printing a higher low and keeping on track to resume the uptrend.
Moonchain (MXC) has surged 70% in the past 24 hours and is currently trading at $0.0042. The token is rebounding strongly after a sharp pullback to $0.0023, following a parabolic rally that saw its price skyrocket from around $0.0010 to a peak of $0.0061 in just two days — a 500%+ gain. The trading volume is still elevated compared to the pre-breakout levels, indicating sustained interest and the potential for continued volatility.
Looking at the 4-hour hour chart, MXC price recently reclaimed the EMA 20 and keeps holding well above it as the moving average begins to slope upwards — a bullish sign. With the latest explosive move, it has also reclaimed a key level at around $0.0040, having peaked briefly at $ 0.0048. At press time, it continues to hold this $0.0040 level, a former resistance from a previous swing high that has now flipped into support.
Source: TradingVolume The current structure suggests the formation of a higher low, hinting at a possible continuation of the upward trend if momentum and buying pressure persist.
The immediate resistance to watch is $0.0048 — the intraday peak from earlier today, marking a potential new swing high in the uptrend market structure. A decisive move above this level, would open the door for a push toward the next resistance at $0.0051, a prior rejection zone during the late May rally before the second leg up to the $0.0061 peak.
If $0.0048 marks the latest swing high, the potential higher low might form somewhere around the $0.0040 level. However, there’s still a chance the latest 4-hour candle closes higher, which could mark a higher swing high, potentially around $0.0051.
PANews reported on September 1st that Gate will officially launch Moonchain (MCH) spot trading at 20:00 (UTC+8) on September 3rd. The 286th Moonchain (MCH) HODLer Airdrop event is now open and ends at 18:00 (UTC+8) on September 3rd. Users holding 1 GT can participate in the airdrop for free and receive a share of 240,000 MCH.
Author: PA一线
This content is for market information only and is not investment advice.
PANews reported on September 1st that Binance announced that its Alpha platform will be the first to list Moonchain (MCH) on September 3rd. Eligible users can claim the airdrop using Binance Alpha Points through the Alpha event page after Alpha trading opens.
Author: PA一线
This content is for market information only and is not investment advice.
MCH, the native token of the AI-powered DePIN protocol Moonchain, is set to be listed on Binance Alpha and crypto exchange Gate today.
Summary
MCH will be available on Binance Alpha and Gate.io later today. The token will launch with a total supply of 1 billion MCH. According to a recent official X post, Binance Alpha said it will be the first platform to feature the MCH token on Sep. 3 at 11:00 AM UTC.
For the uninitiated, Binance Alpha is a spotlight section within the main Binance crypto exchange that highlights early-stage or trending crypto projects
The listing is set to align with the project’s TGE set to take place on the same day.
As part of the listing, Binance also revealed an MCH airdrop for eligible users based on the Alpha Points they’ve accumulated by participating in Binance Alpha events and campaigns. The total amount of tokens to be airdropped was not revealed at the time of writing.
Investors should note that the Binance Alpha listing does not guarantee a full listing on the main Binance exchange. However, if the project demonstrates strong community engagement, healthy liquidity, and sustained growth, it stands a strong chance of benign support by the main platform.
An hour following the Binance Alpha listing, the MCH will also be listed on the crypto exchange Gate.io on the same day.
According to its released tokenomics, the TGE will establish its total supply at 1 billion MCH tokens. Notably, 5% of the max supply, or 50 million tokens, are earmarked for airdrops in the TGE event.
Out of the total, 5% or 50 million MCH tokens have been earmarked for airdrops in the TGE event. Meanwhile, 9% is reserved for ecosystem growth, 10% for liquidity, and 42% for ZK + AI mining.
Other allocations include 8% for IHO mining and 20% for the Moonchain team, while the rest is split between private sale investors and advisors.
What is Moonchain? Moonchain is an AI-powered DePIN protocol that enables users to mine real-world data through hardware devices while securing transactions on a zkEVM Layer-3 chain. The network blends AI, zero-knowledge proofs, and IoT mining to create a decentralized infrastructure for physical-world data and applications.
The project was originally launched in 2018 as Machine Xchange Coin (MXC), an IoT-focused blockchain, before rebranding to Moonchain in May 2024 to reflect its expanded focus on AI, DePIN, and zkEVM compatibility.
At present, Moonchain supports Initial Hardware Offerings (IHOs), a model where free devices such as wearables, sensors, and trackers are distributed to users, who can then earn tokens by contributing real-world data. This positions Moonchain as a next-generation infrastructure provider for AI data and decentralized physical networks.
The project is backed by CITIC Group, UOB Ventures, OKX Ventures, and JDI Ventures, giving it institutional credibility in both finance and infrastructure deployment.
Its native token, MCH, will power the ecosystem through staking, governance, transaction fee discounts, mining incentives, and ecosystem rewards.
Looking ahead, Moonchain plans to expand its DePIN footprint, enabling large-scale deployments of AI-verified devices, advancing zkEVM-based applications, and scaling hardware mining into a global, community-driven infrastructure network.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
PANews reported on May 26 that, according to on-chain analyst Ai Yi, there is a price difference of up to 45% between ESPORTS on-chain and Binance futures contracts, with negative funding fees. The current on-chain price is $0.04072, while the Binance futures price is $0.0492, a difference of 20.8%.
The reasons are as follows: Currently, Gate, MXC, and Bitget have all suspended token deposits, resulting in price discrepancies between on-chain and centralized exchanges that cannot be balanced. Binance Futures' price index references Gate (10.52%), MXC (15.78%), Bitget (15.78%), PancakeswapV3 (52.63%), and Binance Futures (5.26%). When the latest price of a price source deviates more than 3% from the median price of other prices, the value of that price source is intervened at 1.03 or 0.97 times. Because prices on other centralized exchanges are significantly higher than on-chain prices due to deposit suspensions, Binance Futures' prices are distorted.
Bitcoin-focused blockchain Elastos is partnering with the decentralized physical infrastructure networks (DePIN) network IoTeX on digital identity validation. However, the collaboration also aims to bring Bitcoin's robustness and trust to the forefront of DePIN, marking a significant leap toward integrating digital and physical assets using Bitcoin.
The partnership represents an effort to leverage Bitcoin's Layer-2 capabilities, specifically through Elastos' approach, to enhance the functionality and accessibility of real-world assets (RWA) like buildings, equipment, and other capital-intensive assets. By integrating these assets with blockchain technology and IoT (Internet of Things), the collaboration aims to create a seamless, secure, and efficient ecosystem for managing and monetizing physical infrastructure.
At the heart of this partnership is the direct integration with ‘Layer 2' Bitcoin, a move that Raullen Chai, IoTeX's co-founder and CEO, describes as an “important milestone.” He commented,
“Extending our offering to the Elastos Smart Chain (ESC) offers some compelling advantages, including direct integration with ‘Layer 2’ Bitcoin, meaning that agreements can be embedded and reconciled direct in the World’s most popular and trusted digital currency. This is an essential capability as DePINs become more mainstream.”
This integration allows for agreements to be embedded and reconciled directly in Bitcoin. This capability may be crucial as DePINs become more mainstream, offering a secure and transparent mechanism for managing agreements and transactions within the physical infrastructure space.
This integration is facilitated by Elastos' BeL2's BTC Oracle, which enables secure and efficient communication between Bitcoin and EVM blockchains through zero-knowledge proofs (ZKPs), laying the groundwork for complex decentralized applications directly on Bitcoin Layer 2.
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IoTeX's modular infrastructure platform connects smart devices and real-world data to blockchains, while its middleware solution, W3bstream, brings real-world data on-chain. This capability is vital for seamlessly integrating IoT devices with blockchain technology, ensuring integrity, and optimizing speed and scalability.
Jonathan Hargreaves, Elastos' Global Head of Business Development & ESG, encapsulates the essence of this partnership as Web3's “next frontier.” By reducing intermediaries and increasing transparency and privacy in the physical domain, Elastos and IoTeX are bridging the gap between the digital and physical worlds, powered by the security and trust of Bitcoin.
Bitcoin had a successful halving event last Friday, April 19, at the block height of 840,000 further reducing the mining rewards by 50%. Bitcoin price has regained more than 10% from the lows of $60,000, seen just ahead of the halving event. As of press time, Bitcoin price is trading with a market cap of $1.3 trillion. However, along with BTC, several Bitcoin Layer 2 coins have surged by a staggering 5-20% in the last three days since halving.
STX, the native cryptocurrency belonging to Bitcoin Layer 2 network Stacks, has surged by a staggering 20% to $2.87 in the last three days since the fourth Bitcoin halving. This also makes STX one of the best-performing cryptos in the top 25 list over the last 24 hours.
Since the halving event, Elastos’ ELA token has surged by 11%, while SatoshiVM’s SAVM has seen a 5% increase in value. Bitcoin Layer 2 solutions are typically projects addressing transaction speed and scalability limitations on the Bitcoin blockchain network. Built atop the Bitcoin blockchain network, this Layer 2 solutions enhance scalability by processing transactions off-chain.
Bitcoin Transactions Fee Fluctuates According to Glassnode’s data, the average transaction fee surged to almost 0.0020 BTC following the halving, marking its highest level since early 2018. This increase in fees can be attributed to the introduction of a new protocol called Runes, enabling users to “etch” and create tokens on the Bitcoin blockchain. The launch of Runes led to a surge in speculation, token minting, and meme coin trading, driving up transaction volumes and consequently raising transaction costs.
By April 20, a day after halving, the Bitcoin transaction fees skyrocketed to $128 leading to millions of dollars in profits for miners. However, the transaction fees have once again cooled down in the range of $8–$10 for medium-priority transactions. During the period from April 15 to 20, Bitcoin’s transaction fees have consistently exceeded those of Ethereum for six consecutive days. The seven-day average fee for Bitcoin now stands at $17.8 million.
Along with the native tokens of the Bitcoin Layer 2 solution, the Bitcoin Ordinals NFTs have also been in the limelight over the weekend. With the 60% drop in the floor price of Bitcoin Runestone, the floor price of Ordinals like Bitcoin Puppets and NodeMonkes has surged by 20% and 7% respectively.
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.
Bitcoin News, Cryptocurrency News, News
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Following the Bitcoin halving, three so-called BTC layer 2 protocols have outperformed crypto’s leading token.
At press time, Bitcoin (BTC) traded over $65,000 and had gained 2.9% in the past 24 hours, according to CoinGecko data. The short-term price action following BTC’s halving is not unusual compared to previous cycles.
Historical data shows volatility and price swings leading to the quadrennial events, followed by a parabolic Bitcoin run in the mid to long term. However, previous increases have hardly ever been in a straight line.
BTC price chart | Source: TradingView While BTC displayed modest gains after its halving, protocols buildings around crypto’s largest blockchains posted higher increases in the last 24 hours and over the past week. Three tokens stood out from five BTC L2 solutions categorized by CoinGecko, which holds over $4 billion in value.
SatoshiVM SatoshiVM (SAVM) claims to be a BTC zero-knowledge rollup compatible with the Ethereum Virtual Machine, or EVM, as it’s commonly known in crypto. The protocol uses native BTC as gas fees and allows builders to issue assets, dapps, and solutions linked with Bitcoin’s ecosystem.
SAVM surged 12% over the past day and returned more than 17.9% to holders in the last week.
Elastos Elastos (ELA) holders gained north of 5.5% in 24 hours but only 3.6% within the past week. The protocol aims to bolster BTC efficiency and scalability by providing its L2 dubbed BeL2, a layer 2 offering built using SmartWeb technology to power smart contracts on Bitcoin.
Stacks Stacks (STX) tailed Elastos for daily growth at 5.4% but outpaced ELA on the weekly timeline with a 10.6% increase. According to the team, Stacks supports dapp developments and on-chain settlement on Bitcoin.
The protocol says its Stacks layer unlocks around $500 billion in BTC capital through this direct settlement mechanism.
[PRESS RELEASE – Hersham, United Kindom, June 28th, 2024]
Elastos Partners with BEVM for Bitcoin Native Peer-to-Peer Loans. Partnership aims to unlock up to $1.3 trillion of dormant Layer 1 Value, as US consumers get excited about the 3rd Age of Bitcoin
Elastos, the SmartWeb ecosystem provider, has announced a partnership with the L2 provider, BEVM, to develop a peer-to-peer Bitcoin-denominated loan offering around the former’s BeL2 protocol. Together the companies believe they can unlock up to $1.3 Trillion of dormant Layer 1 Bitcoin Value, which is supported by data from the latest Elastos’ BIT (Bitcoin; Innovation & Trust) Index suggesting more than two-thirds of US tech-savvy consumers are comfortable using Bitcoin.
Collateralizing 80% of assets while the Bitcoin Layer is untouched
Elastos believes momentum is building around the Third Age of Bitcoin, where users will be able to transact using Native Bitcoin. Partnering with BEVM to develop this Bitcoin Native loan product will allow users to collateralize up to 80% of their assets in return for L2 credit (stable coins, for instance) based on terms defined in a Bitcoin-assured smart contract. The integrity of the currency is assured by BeL2’s unique ZK-proof process which means the Bitcoin Layer is untouched as the process can be completed without bridging, wrapping or otherwise interfering with the Bitcoin Layer. This maintains the integrity of the currency and avoids network congestion and additional fees that would otherwise result. This approach enables Elastos and BEVM to deliver a genuinely peer-to-peer loan product, which is completely disintermediated and anonymous. Verification (potentially through third party services) and resulting costs/delays would only be required in the event of a dispute between the two parties.
“The BeL2 protocol perfectly reflects what BEVM is all about; developing and supporting EVM-compatible DApps which can run in the Ethereum ecosystem to operate on Bitcoin L2. The loan offering is the perfect illustration of how such services could revolutionize the finance sector,” Hakan Sezikli, Co-founder of the BEVM Foundation.
Enabling Insight via BTC Oracle
Launched in December ’23, the Bitcoin Elastos Layer2 (BeL2) protocol is a Layer 2 solution for Bitcoin, enabling multiple functionalities such as staking and smart contracts to be denominated directly in the World’s most popular digital currency. BEVM will be collaborating with the Elastos’ BeL2 protocol to deliver a BTC Oracle to monitor and analyze all Bitcoin-based activity in real time. As the BeL2 protocol enables Bitcoin users to manage any relationship through the currency – from staking (‘interest’), to complex multi-party agreements through smart contracts – the BTC Oracle will potentially become a vital source of insight into how the currency is being used.
US tech-savvy consumers trust Bitcoin
This partnership comes as new data from the Elastos’ BIT (Bitcoin; Innovation & Trust) Index indicates growing excitement among US tech-savvy consumers for Bitcoin. 63% of ‘tech savvy’ consumers feel either ‘perfectly comfortable’ or, even, ‘excited’ about transacting in Bitcoin and over half respondents in the US are using Bitcoin at least once a month. Among the use cases:
44% have already used Bitcoin to store savings 42% have used the digital currency to purchase online 34% to send/receive money from abroad 23% turn to it to mitigate the effects of inflation 15% use it to reduce their banking costs Respondents to the survey also suggest they trust Bitcoin as much as online banking or cash to protect savings:
24% US respondents would place most trust in Bitcoin Compared with 25% who place most trust in online banks 23% who place their trust in cash “What this data shows is that we’re reaching an inflection point in the understanding and embrace of crypto-currencies among early adopters in the US that reflects the global trend towards the Third Age of Bitcoin,” said Rong Chen, co-founder, Elastos. “We are on the verge of Bitcoin delivering a new era commerce, where users are in charge of their data and are no longer beholden to the Web 2 tech giants. This data shows there is work to do to encourage broader adoption in the US, but at Elastos it is our mission to develop technologies that will make it easier to interact and transact with Bitcoin.”
The BIT Barometer also revealed sizable constituencies uncomfortable with the data sharing requirements of Web2. Globally and in the US, one in three (31%) described themselves as “uneasy” or “completely uncomfortable” about the requirement to share personal information to message or transact on web2 social media.
About Elastos
Elastos is a public blockchain project that integrates blockchain technology with a suite of reimagined platform components to produce a modern Internet infrastructure that provides intrinsic protection for privacy and digital asset ownership. The mission is to build accessible, open-source services for the world, so developers can build an internet where individuals own and control their data.
The Elastos SmartWeb platform enables organizations to recalibrate how the Internet works for them to better control their own data.
https://elastos.info
https://www.linkedin.com/company/elastosinfo/
Elastos’ BIT (Bitcoin; Innovation & Trust) Index Methodology
The data was compiled from over 1,400 self-defined ‘tech savvy’ respondents from 7 countries across the globe. The research was compiled from online interviews conducted in Brazil, Germany, Nigeria, South Korea, UAE, UK, and US. The interviews were completed by a third party, registered market research company and completed between 30 March and 04 April ’24.
About BEVM
BEVM is the first fully decentralized EVM-compatible Bitcoin L2 that uses BTC as Gas. It allows all DApps which can run in the Ethereum ecosystem to operate on Bitcoin L2.
[PRESS RELEASE – Singapore, Asia, July 29th, 2024]
Elastos BeL2 will partner with StarkWare to integrate Starknet ZKPs and Cairo programming language with BeL2 for Native Bitcoin DeFi apps Starknet integration enables BeL2 to deliver smart contracts and dapps without moving Bitcoin assets off the mainnet Starknet Grant validates strength of BeL2 innovation and leadership in the Native Bitcoin ecosystem Elastos BeL2 (Bitcoin Elastos Layer2) has secured a $25,000 grant from Starknet, a technology leader in zero-knowledge proofs (ZKP). This significant endorsement highlights the Elastos BeL2 infrastructure and its critical role in advancing Native Bitcoin DeFi, particularly native Bitcoin lending. By integrating Starknet ZKPs and the Cairo programming language, Elastos’ BeL2 will enhance its ability to deliver smart contracts and decentralized apps (dapps) without moving Bitcoin (BTC) assets off the main network. This strategic partnership with Starknet demonstrates the growing acceptance and maturity of the BeL2 infrastructure, reinforcing Elastos’ commitment to market leadership in the evolving Bitcoin DeFi market.
Starknet, developed by StarkWare, is renowned for its advances in ZKP technology, which enhance the privacy and security of blockchain transactions. ZKPs allow one party to prove to another that a statement is true without revealing any information beyond the validity of the statement itself. This technology is fundamental to scaling blockchain networks, which will enhance BeL2’s ability to integrate complex smart contracts while maintaining Bitcoin’s integrity and security.
“We are delighted to receive this Starknet grant and announce our partnership to build tighter integrations with its ZKP technology and the Cairo programming language,” said Sasha Mitchell, Head of Bitcoin Layer 2, Elastos. “This is a major milestone for BeL2 and a real endorsement of the maturity and capabilities of our core technology. This support will allow us to further build out our Native Bitcoin lending innovation, as we look to leverage the growing acceptance of Bitcoin as a viable alternative financial system.”
Closer integration with Cairo will enable BeL2 to use this powerful programming language to enhance Bitcoin’s capabilities and deliver secure, efficient, and scalable decentralized finance (DeFi) applications. Specifically, the relationship with Cairo strengthens BeL2’s leading technical innovations, which include:
ZKPs to ensure secure and private transaction verification Decentralized arbitration using collateralized nodes to supervise and enforce fairness in Native Bitcoin DeFi BTC Oracle facilitating cross-chain interactions where information, not assets, are exchanged while Bitcoin remains on the main infrastructure BeL2’s vision extends beyond technical innovation to pioneering a new financial system. The goal is to build a Bitcoin-backed Bretton Woods system, addressing global debt crises and enhancing Bitcoin’s role as a global hard currency. This new system will be anchored by the integrity and security of Bitcoin, providing a stable foundation for decentralized financial applications.
As the integration with Starknet and the Cairo programming language expands, BeL2 will deliver further advancements in smart contract capabilities, decentralized arbitration, and innovative financial products. At Token 2049, BeL2 will demonstrate further innovations in its core technologies, particularly around arbiters, which will underline the Elastos vision to deliver a more equitable, decentralized financial system anchored by Bitcoin.
About Elastos Elastos is a public blockchain project that integrates blockchain technology with a suite of reimagined platform components to produce a modern Internet infrastructure that provides intrinsic protection for privacy and digital asset ownership. The mission is to build accessible, open-source services for the world, so developers can build an internet where individuals own and control their data.
The Elastos SmartWeb platform enables organizations to recalibrate how the Internet works for them to better control their own data.
The Stacks (STX) protocol has initiated the Nakamoto Upgrade, which introduces Bitcoin (BTC) finality to its network. Over the next 21 days, the ecosystem is set to experience a range of activities linked to this significant upgrade.
Stacks is one of the largest Bitcoin Layer-2 (L2) networks by market capitalization. Earlier this year, the STX community approved the Nakamoto upgrade, aiming to make the network faster and enhance block times.
Bitcoin L2 Stacks Initiates Nakamoto UpgradeThe Nakamoto Upgrade marks a new era of scalability for decentralized finance (DeFi) within the Bitcoin ecosystem and is one of the most significant changes to the Stacks network. Activated on Wednesday, this upgrade enhances transaction speeds and reduces settlement times.
Bitcoin’s standard settlement times previously ranged from 10 to 30 minutes or more. The Nakamoto Upgrade has slashed this to around five seconds—a 10X improvement that significantly boosts the Stacks network’s usability.
The upgrade received strong community support earlier this year and sets the stage for several key developments in the Stacks ecosystem. One of the major upcoming events is the introduction of sBTC, a decentralized asset backed 1:1 by Bitcoin.
Stacks is specifically designed to enable smart contracts and dApps to use Bitcoin as a secure base layer. By extending Bitcoin’s capabilities without altering it, Stacks unlocks billions in latent capital, allowing for a more dynamic and functional ecosystem.
Read more: A Beginner’s Guide to Layer-2 Scaling Solutions
The Nakamoto Upgrade comes as projects built atop the Stacks blockchain endured less-than-desirable speeds. These slow transaction times negatively impacted the user experience, making it challenging to support high-volume use cases and limiting developers from delivering complex DeFi products.
Despite the positive changes brought by the upgrade, which began on Wednesday, the total value locked (TVL) on the Stacks network has decreased by over $7 million, dropping from $98.10 million to $90.62 million. This decline in TVL suggests that the upgrade’s immediate impact on market confidence was mixed, even as the network undergoes notable improvements.
Stacks TVL. Source: DefiLlamaBeInCrypto data shows STX, the native token of the Stacks network, is trading for $1.59 at press time, down 8.5% since Thursday session openned.
Bitcoin L2s Could Initiate New WaveBitcoin L2 solutions are progressively gaining popularity, and have attracted significant investment. As BeInCrypto previously reported, VC funding towards Bitcoin L2s continues to grow, collectively raising an impressive $94.6 million in the second quarter of 2024.
This represents a substantial 174% increase quarter-over-quarter. Experts also revealed that at least 65 projects identified themselves as Bitcoin Layer-2.
“The crypto industry is catching on to the fact that much of what is done on alternative blockchains can be built on top of Bitcoin. Fortune 500 companies like MicroStrategy are tailoring their entire business towards Bitcoin’s Layer-2. Layer-2 faces no more regulations than other crypto platforms. The only challenges are technical, and the brightest minds are being pulled towards Bitcoin along with nation-states, etc,” Manuel Ferrari, Money On Chain Co-Founder, told BeInCrypto.
Read more: Beginner’s Tutorial to Start Using the Lightning Network
There is also speculation that L2s could spark a new bullish wave for Bitcoin, especially as the focus on scaling increases. This rising demand might lead to capital rotation, with overflow potentially moving into Layer-2 tokens like STX, Elastos (ELA), SatoshiVM (SVM), and BVM (BVM).
[PRESS RELEASE – Singapore, Asia, September 12th, 2024]
Since announcing their partnership at Bitcoin Nashville, Elastos and Particle Network have quickly reached a key milestone in simplifying user onboarding. Developers can now build dApps that make it easier for Web2 users to get started, expanding adoption. Elastos, a SmartWeb ecosystem provider, today announced that Particle Network, an L1 blockchain aggregator, has integrated the Elastos Smart Chain (ESC) Mainnet. This marks the first major milestone since their partnership announcement at Bitcoin Nashville 2024. The development allows users to interact with Elastos decentralized applications (dApps) using familiar Web2 logins, like Google, for a smoother onboarding experience. This step helps Elastos developers attract Web2 users to their dApps, opening new opportunities for revenue.
By simplifying the typically complex blockchain onboarding process , users can now engage with Elastos dApps without the need for crypto wallets, seed phrase management, or paying gas fees. For example, a user can log in with a Bitcoin wallet to take out a stablecoin loan using collateralized Bitcoin via Elastos’ BeL2. This funding can be used right away on the Elacity marketplace without needing ELA for gas, as those fees are covered automatically in the background. This makes the process more convenient while retaining the benefits of decentralization, including control over personal data, direct peer-to-peer interactions, and strong security and integrity.
The ability to hide complexity from users is a strategic driver for Elastos. By working with Particle Network, Elastos is able to simplify the process for users to interact with decentralized applications and BTC-backed services. This complements the work it has been doing with the BeL2 protocol to keep Bitcoin secure on its main network using zero-knowledge proofs to verify transactions and transfer collateral information across chains.
Pengyu Wang, Particle Network’s Founder, describes Particle Network’s effort toward simplifying the Web3 user experience as a major milestone in making Web3 experiences a part of everyday life.
“Web3 has introduced a wide array of blockchains and protocols that developers and users need to manage. Simplification is essential to improving this experience, enabling users to have a single, unified on-chain address and balance across various blockchains,” said Wang. “Our mainnet launch in collaboration with Elastos reflects our shared vision of making it easier for developers and users to build and experience Web3 services.”
Jonathan Hargreaves, Elastos’s Global Head of Growth, explained that, to truly rival Web2 in terms of adoption, one of the key milestones for Web3 is making it easy to interact with a dApp.
“The significance of this announcement is the simplicity that Particle Network brings to the table allowing multiple technologies to deliver a Web3 experience in an environment that will feel exactly the same as any current social media or sharing app, all assured by the World’s most ubiquitous, popular and integral decentralized currency through Elastos’ BeL2 protocol,” continued Jonathan.
Elastos’ BeL2 protocol enables users to operate easily using Bitcoin – as if they were operating in a purely native Bitcoin environment – without actually impacting the BTC layer.
“Building out a robust ecosystem around the BeL2 protocol with partners like Particle Network will be key to enabling a new economic model based around Native Bitcoin. At Token 2049, we will be hosting an event at RWA which will further demonstrate how working with our partners we will enable developers to build a whole new range of decentralized finance, music and entertainment applications.”
About Elastos
Elastos is a public blockchain project that integrates blockchain technology with a suite of reimagined platform components to produce a modern Internet infrastructure that provides intrinsic protection for privacy and digital asset ownership. The mission is to build accessible, open-source services for the world, so developers can build an internet where individuals own and control their data.
The Elastos SmartWeb platform enables organizations to recalibrate how the Internet works for them to better control their own data.
https://elastos.info
https://www.linkedin.com/company/elastosinfo/
About Particle Network
Particle Network is addressing Web3’s fragmentation of users and liquidity through Universal Accounts. Particle’s chain abstraction is powered by a Cosmos SDK L1 blockchain enabling the experience of a single account, balance, and address that can be used across all chains, allowing users to interact with any dApp and pay gas with any token.
For more information, users can go to: https://particle.network/
[PRESS RELEASE – Singapore, Asia, October 23rd, 2024]
Users can convert staked ELA and rewards into tradable NFTs, burn them anytime for Bitcoin-secured ELA APY rewards, and claim the staked ELA when the lock period ends. Anyone can stake ELA with a validator and earn 2–3% APR, with higher rewards for longer lock periods. Elastos continues to build momentum for a new decentralized finance model, offering flexible liquidity, Bitcoin-backed security, and simple wallet access. Elastos, a SmartWeb ecosystem provider, has expanded incentives for crypto users and validators with the launch of Bonded Proof of Stake (BPoS) NFTs. This new system offers users liquidity for staked assets by converting ELA and accumulated rewards into tradable NFT receipts, without interrupting rewards or waiting for the lock period to end. Through the Essentials Wallet, users can stake Bitcoin-secured ELA with a validator to earn 2–3% APR, with higher rewards for longer lock periods.
Today’s announcement underscores Elastos’ commitment to delivering value across the Smart Web ecosystem. Users can easily stake ELA tokens with BPoS validators on the Elastos Mainchain using the Essentials Wallet and issue BPoS NFTs. These NFTs can be freely traded or transferred on the Elastos Smart Chain (ESC), offering liquidity without affecting the staking period. Market participants can acquire NFTs to gain access to Mainchain rewards and the underlying staked asset. While the staked ELA remains locked until the staking period ends, NFT holders can burn their NFTs anytime to claim accumulated APY rewards.
“We are committed to delivering technologies that will create long-term value for our users and the ecosystem,” said Jonathan Hargreaves, Head of Global Growth at Elastos. “We are now in a position to deliver the tools and architecture that enable users to trade Bitcoin-backed value through ELA on Elastos without unstaking the underlying asset. This unlocks new market opportunities and sets the stage for BPoS NFTs to be used as collateral in BeL2’s upcoming Arbiter network. Ultimately, we aim to build a new model for decentralized finance backed by Bitcoin security, and we are entering a phase where users will increasingly benefit from these innovations.”
Backed by Bitcoin Security These NFTs represent receipts to claim ELA assets secured by Bitcoin’s hash power through Auxiliary Proof of Work (AuxPoW) and validators via the BPoS mechanism on the Elastos Mainchain. With 293.69 EH/s of Bitcoin’s total 580.74 EH/s hash rate, nearly half of Bitcoin’s security reinforces Elastos’ ELA, anchoring it in Bitcoin’s infrastructure without additional energy use and introducing new utility through mintable and burnable NFTs.
“With ELA’s fixed supply cap of 28.22 million, Bitcoin miner-shared security, and a 4-year halving cycle, ELA embodies Satoshi’s merge-mining BitDNS and Generalizing Bitcoin vision laid out on the Bitcoin forum in 2010,” added Sasha Mitchell, Head of BeL2. “Our roadmap continues to progress with the upcoming BeL2 arbiter network, which will support Native Bitcoin DeFi, allowing nodes to collateralize BPoS NFTs and unlock multiple revenue opportunities beyond ELA APY by supporting BTC-based services.”
Launching the BeL2 Arbiter Network Elastos plans to launch the BeL2 arbiter network by the end of 2024. This network will allow BPoS NFTs to be used as collateral for supporting time-based transactions such as loans and stablecoin pegs, including dispute resolution services. Arbiter nodes using these NFTs will earn Bitcoin and ELA rewards without moving Bitcoin from the mainnet. This approach combines security, liquidity, and financial innovation, positioning Elastos as a key player in the evolution of blockchain-based finance.
About Elastos Elastos is a public blockchain project that integrates blockchain technology with a suite of reimagined platform components to create a modern internet infrastructure that provides intrinsic protection for privacy and digital asset ownership. Its mission is to build accessible, open-source services that empower developers to create an internet where individuals own and control their data.
The Elastos SmartWeb platform allows organizations to recalibrate how the internet functions to better manage their data and privacy.
Majuro, Marshall Islands, January 30th, 2025, Chainwire
Funding accelerates the development of Elastos’ ELA token, Native Bitcoin DeFi protocol, and Web3 data economy – positioning Elastos as the utility layer for Bitcoin.
Elastos, a decentralized web infrastructure pioneer, today announced a $20 million strategic investment from Rollman Management to scale its Bitcoin-aligned ecosystem. Rollman Management, recognized for its high-profile investments in blockchain projects like Ripple, Ethereum, Solana, and Planck, now ranks Elastos among its top five holdings. The partnership will fuel the launch of Elastos’ Native Bitcoin DeFi protocol, BeL2, expand its merge-mined ELA token as a Bitcoin reserve asset, and accelerate Elacity—a Web3 data marketplace that enables creators to monetize content without intermediaries on top.
With Bitcoin’s market cap surpassing $2 trillion, Elastos solves critical gaps in Bitcoin’s ecosystem:
ELA as Bitcoin’s Merge-Mined Reserve Asset: ELA tokens have been secured by Bitcoin’s hash power through merge-mining since 2018, aligning with Satoshi Nakamoto’s 2010 vision for decentralized networks. With a total of 28,220,000 by 2105 and around 50% of Bitcoin’s hashrate, ELA gains security and decentralization, provides additional revenue for BTC miners at no extra cost, and creates a crypto economically sound reserve asset for Elastos’ Bitcoin-native DeFi system. BeL2: Bitcoin’s DeFi Breakthrough: Launching in Q2 2024, BeL2 allows Bitcoin holders to collateralize BTC in personal wallets and access Ethereum smart contract services. These include minting stablecoins, performing swaps, and borrowing assets peer-to-peer, unlocking its value all whilst eliminating reliance on synthetic BTC (e.g., WBTC) and centralized custodians. BeL2 combines locking scripts, zero-knowledge proofs, oracles, and an arbiter network where ELA stakeholders can stake ELA and earn BTC fees as decentralized nodes to support the protocol. Elacity: Web3’s Creator Revolution: Already proven in early tests, where one creator earned $5,600 in 24 hours through tokenized podcast access, Elacity v2 will launch in April with channels and subscription models. It enables influencers to encrypt, tokenize, and sell content/royalties on Elastos for audio and video markets, with plans to extend its technology to support the tokenization of AI markets. “Leveraging Bitcoin’s trillion-dollar consensus to empower Web3 users with scalable utilities—that’s where Elastos comes in,” said Rong Chen, Elastos Founder. “Merge-mining ties ELA’s security to Bitcoin’s, and BeL2, Elastos’ decentralized finance protocol, unlocks BTC-backed DeFi without compromises, whilst Elacity creates a decentralized digital goods economy on top. Rollman’s investment supports our role as Bitcoin’s utility layer”.
The $20M investment from Rollman will drive the advancement of Elastos technologies and also help Elastos reorient its branding, mature its technological stance, and go to market. This includes enhancing marketing efforts, which will further position Elastos as a leader in the growing Bitcoin-native DeFi space.
Elastos as a Pioneer in Bitcoin-secured Governance
Beyond its technological advancements, Elastos stands out for its Cyber Republic Consensus (CRC) governance model, formalized as a DAO LLC in the Marshall Islands, which signed this agreement with Rollman. This delegate-based system allows community members to stake Bitcoin merge-mined ELA, earn APY, and annually elect—or run as—one of 12 council members who vote on proposals, drive innovation, sign contracts, and validate Elastos’ Smart (EVM) and Identity (DID) sidechains. This ensures governance decisions reflect the community’s interests and demonstrates Elastos’ commitment to a truly decentralized and transparent ecosystem rooted in Bitcoin.
As Elastos enters its next phase of growth, participants can join the ecosystems CRC DAO by acquiring merge-mined ELA, which has a market cap of $48,542,586 and is secured by nearly 50% of Bitcoin’s hashrate (366.01 EH/s, equivalent to 244.008 Frontier Supercomputers). ELA offers 6+ years of proven security, a fixed cap of 28.22M tokens to be fully mined by 2105, and 3.29% emissions via its Essentials Wallet, ensuring scarcity and predictability for holders. Available on Centralized Exchanges (Coinbase, KuCoin, Gate.io, Huobi, Bitget, Crypto.com) and Decentralized Exchanges (Uniswap, Chainge Finance, Glide Finance), ELA empowers holders to shape Elastos’ future through CRC governance—driving innovation, reinforcing Bitcoin-level security, and building the next generation of decentralized applications.
Additional Information
ELA Merge Mining BeL2 Elacity Cyber Republic Consensus (CRC) Users can contact [email protected] for partnership inquiries or media requests. About Elastos
Elastos is a SmartWeb ecosystem builder focused on enabling decentralized application creation and cross-chain connectivity. Built on top of Bitcoin merge-mining, Elastos relies on the security of the world’s largest public blockchain and extends it with additional layers. The introduction of BeL2 and its Arbiter Network marks Elastos’ latest effort to advance a more open, clear, and trustless global financial system.
Website: Elastos.info
X/Twitter: @ElastosInfo
About Rollman Management Digital
Rollman Management Digital is a private investment and management consulting boutique that is incorporated in the British Virgin Islands. The firm seeks to invest in talented teams and their blockchain protocols to further develop their technology and business while adding significant value to the future of the modern economy.
RMD is led by Victor R. Ch. Rollman, the founder of Rollman Capital, Rollman Mining, and Rollman Management. The Group offers a wide range of investment opportunities, financial services, and management consultancy to UHNWIs, entrepreneurs, developing governments, commodity trading firms, banks, family offices, and pension funds.
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Majuro, Marshall Islands, January 30th, 2025, Chainwire
Funding accelerates the development of Elastos’ ELA token, Native Bitcoin DeFi protocol, and Web3 data economy – positioning Elastos as the utility layer for Bitcoin.
Elastos, a decentralized web infrastructure pioneer, today announced a $20 million strategic investment from Rollman Management to scale its Bitcoin-aligned ecosystem. Rollman Management, recognized for its high-profile investments in blockchain projects like Ripple, Ethereum, Solana, and Planck, now ranks Elastos among its top five holdings. The partnership will fuel the launch of Elastos’ Native Bitcoin DeFi protocol, BeL2, expand its merge-mined ELA token as a Bitcoin reserve asset, and accelerate Elacity—a Web3 data marketplace that enables creators to monetize content without intermediaries on top.
With Bitcoin’s market cap surpassing $2 trillion, Elastos solves critical gaps in Bitcoin’s ecosystem:
ELA as Bitcoin’s Merge-Mined Reserve Asset: ELA tokens have been secured by Bitcoin’s hash power through merge-mining since 2018, aligning with Satoshi Nakamoto’s 2010 vision for decentralized networks. With a total of 28,220,000 by 2105 and around 50% of Bitcoin’s hashrate, ELA gains security and decentralization, provides additional revenue for BTC miners at no extra cost, and creates a crypto economically sound reserve asset for Elastos’ Bitcoin-native DeFi system. BeL2: Bitcoin’s DeFi Breakthrough: Launching in Q2 2024, BeL2 allows Bitcoin holders to collateralize BTC in personal wallets and access Ethereum smart contract services. These include minting stablecoins, performing swaps, and borrowing assets peer-to-peer, unlocking its value all whilst eliminating reliance on synthetic BTC (e.g., WBTC) and centralized custodians. BeL2 combines locking scripts, zero-knowledge proofs, oracles, and an arbiter network where ELA stakeholders can stake ELA and earn BTC fees as decentralized nodes to support the protocol. Elacity: Web3’s Creator Revolution: Already proven in early tests, where one creator earned $5,600 in 24 hours through tokenized podcast access, Elacity v2 will launch in April with channels and subscription models. It enables influencers to encrypt, tokenize, and sell content/royalties on Elastos for audio and video markets, with plans to extend its technology to support the tokenization of AI markets. “Leveraging Bitcoin’s trillion-dollar consensus to empower Web3 users with scalable utilities—that’s where Elastos comes in,” said Rong Chen, Elastos Founder. “Merge-mining ties ELA’s security to Bitcoin’s, and BeL2, Elastos’ decentralized finance protocol, unlocks BTC-backed DeFi without compromises, whilst Elacity creates a decentralized digital goods economy on top. Rollman’s investment supports our role as Bitcoin’s utility layer”.
The $20M investment from Rollman will drive the advancement of Elastos technologies and also help Elastos reorient its branding, mature its technological stance, and go to market. This includes enhancing marketing efforts, which will further position Elastos as a leader in the growing Bitcoin-native DeFi space.
Elastos as a Pioneer in Bitcoin-secured Governance
Beyond its technological advancements, Elastos stands out for its Cyber Republic Consensus (CRC) governance model, formalized as a DAO LLC in the Marshall Islands, which signed this agreement with Rollman. This delegate-based system allows community members to stake Bitcoin merge-mined ELA, earn APY, and annually elect—or run as—one of 12 council members who vote on proposals, drive innovation, sign contracts, and validate Elastos’ Smart (EVM) and Identity (DID) sidechains. This ensures governance decisions reflect the community’s interests and demonstrates Elastos’ commitment to a truly decentralized and transparent ecosystem rooted in Bitcoin.
As Elastos enters its next phase of growth, participants can join the ecosystems CRC DAO by acquiring merge-mined ELA, which has a market cap of $48,542,586 and is secured by nearly 50% of Bitcoin’s hashrate (366.01 EH/s, equivalent to 244.008 Frontier Supercomputers). ELA offers 6+ years of proven security, a fixed cap of 28.22M tokens to be fully mined by 2105, and 3.29% emissions via its Essentials Wallet, ensuring scarcity and predictability for holders. Available on Centralized Exchanges (Coinbase, KuCoin, Gate.io, Huobi, Bitget, Crypto.com) and Decentralized Exchanges (Uniswap, Chainge Finance, Glide Finance), ELA empowers holders to shape Elastos’ future through CRC governance—driving innovation, reinforcing Bitcoin-level security, and building the next generation of decentralized applications.
Additional Information
ELA Merge Mining BeL2 Elacity Cyber Republic Consensus (CRC) Users can contact [email protected] for partnership inquiries or media requests. About Elastos
Elastos is a SmartWeb ecosystem builder focused on enabling decentralized application creation and cross-chain connectivity. Built on top of Bitcoin merge-mining, Elastos relies on the security of the world’s largest public blockchain and extends it with additional layers. The introduction of BeL2 and its Arbiter Network marks Elastos’ latest effort to advance a more open, clear, and trustless global financial system.
Website: Elastos.info
X/Twitter: @ElastosInfo
About Rollman Management Digital
Rollman Management Digital is a private investment and management consulting boutique that is incorporated in the British Virgin Islands. The firm seeks to invest in talented teams and their blockchain protocols to further develop their technology and business while adding significant value to the future of the modern economy.
RMD is led by Victor R. Ch. Rollman, the founder of Rollman Capital, Rollman Mining, and Rollman Management. The Group offers a wide range of investment opportunities, financial services, and management consultancy to UHNWIs, entrepreneurs, developing governments, commodity trading firms, banks, family offices, and pension funds.
[PRESS RELEASE – Majuro, Marshall Islands, January 30th, 2025]
Funding accelerates the development of Elastos’ ELA token, Native Bitcoin DeFi protocol, and Web3 data economy – positioning Elastos as the utility layer for Bitcoin.
Elastos, a decentralized web infrastructure pioneer, today announced a $20 million strategic investment from Rollman Management to scale its Bitcoin-aligned ecosystem. Rollman Management, recognized for its high-profile investments in blockchain projects like Ripple, Ethereum, Solana, and Planck, now ranks Elastos among its top five holdings. The partnership will fuel the launch of Elastos’ Native Bitcoin DeFi protocol, BeL2, expand its merge-mined ELA token as a Bitcoin reserve asset, and accelerate Elacity—a Web3 data marketplace that enables creators to monetize content without intermediaries on top.
With Bitcoin’s market cap surpassing $2 trillion, Elastos solves critical gaps in Bitcoin’s ecosystem:
ELA as Bitcoin’s Merge-Mined Reserve Asset: ELA tokens have been secured by Bitcoin’s hash power through merge-mining since 2018, aligning with Satoshi Nakamoto’s 2010 vision for decentralized networks. With a total of 28,220,000 by 2105 and around 50% of Bitcoin’s hashrate, ELA gains security and decentralization, provides additional revenue for BTC miners at no extra cost, and creates a crypto economically sound reserve asset for Elastos’ Bitcoin-native DeFi system. BeL2: Bitcoin’s DeFi Breakthrough: Launching in Q2 2024, BeL2 allows Bitcoin holders to collateralize BTC in personal wallets and access Ethereum smart contract services. These include minting stablecoins, performing swaps, and borrowing assets peer-to-peer, unlocking its value all whilst eliminating reliance on synthetic BTC (e.g., WBTC) and centralized custodians. BeL2 combines locking scripts, zero-knowledge proofs, oracles, and an arbiter network where ELA stakeholders can stake ELA and earn BTC fees as decentralized nodes to support the protocol. Elacity: Web3’s Creator Revolution: Already proven in early tests, where one creator earned $5,600 in 24 hours through tokenized podcast access, Elacity v2 will launch in April with channels and subscription models. It enables influencers to encrypt, tokenize, and sell content/royalties on Elastos for audio and video markets, with plans to extend its technology to support the tokenization of AI markets. “Leveraging Bitcoin’s trillion-dollar consensus to empower Web3 users with scalable utilities—that’s where Elastos comes in,” said Rong Chen, Elastos Founder. “Merge-mining ties ELA’s security to Bitcoin’s, and BeL2, Elastos’ decentralized finance protocol, unlocks BTC-backed DeFi without compromises, whilst Elacity creates a decentralized digital goods economy on top. Rollman’s investment supports our role as Bitcoin’s utility layer”.
The $20M investment from Rollman will drive the advancement of Elastos technologies and also help Elastos reorient its branding, mature its technological stance, and go to market. This includes enhancing marketing efforts, which will further position Elastos as a leader in the growing Bitcoin-native DeFi space.
Elastos as a Pioneer in Bitcoin-secured Governance
Beyond its technological advancements, Elastos stands out for its Cyber Republic Consensus (CRC) governance model, formalized as a DAO LLC in the Marshall Islands, which signed this agreement with Rollman. This delegate-based system allows community members to stake Bitcoin merge-mined ELA, earn APY, and annually elect—or run as—one of 12 council members who vote on proposals, drive innovation, sign contracts, and validate Elastos’ Smart (EVM) and Identity (DID) sidechains. This ensures governance decisions reflect the community’s interests and demonstrates Elastos’ commitment to a truly decentralized and transparent ecosystem rooted in Bitcoin.
As Elastos enters its next phase of growth, participants can join the ecosystems CRC DAO by acquiring merge-mined ELA, which has a market cap of $48,542,586 and is secured by nearly 50% of Bitcoin’s hashrate (366.01 EH/s, equivalent to 244.008 Frontier Supercomputers). ELA offers 6+ years of proven security, a fixed cap of 28.22M tokens to be fully mined by 2105, and 3.29% emissions via its Essentials Wallet, ensuring scarcity and predictability for holders. Available on Centralized Exchanges (Coinbase, KuCoin, Gate.io, Huobi, Bitget, Crypto.com) and Decentralized Exchanges (Uniswap, Chainge Finance, Glide Finance), ELA empowers holders to shape Elastos’ future through CRC governance—driving innovation, reinforcing Bitcoin-level security, and building the next generation of decentralized applications.
Additional Information
ELA Merge Mining BeL2 Elacity Cyber Republic Consensus (CRC) Users can contact [email protected] for partnership inquiries or media requests. About Elastos
Elastos is a SmartWeb ecosystem builder focused on enabling decentralized application creation and cross-chain connectivity. Built on top of Bitcoin merge-mining, Elastos relies on the security of the world’s largest public blockchain and extends it with additional layers. The introduction of BeL2 and its Arbiter Network marks Elastos’ latest effort to advance a more open, clear, and trustless global financial system.
Website: Elastos.info
X/Twitter: @ElastosInfo
About Rollman Management Digital
Rollman Management Digital is a private investment and management consulting boutique that is incorporated in the British Virgin Islands. The firm seeks to invest in talented teams and their blockchain protocols to further develop their technology and business while adding significant value to the future of the modern economy.
RMD is led by Victor R. Ch. Rollman, the founder of Rollman Capital, Rollman Mining, and Rollman Management. The Group offers a wide range of investment opportunities, financial services, and management consultancy to UHNWIs, entrepreneurs, developing governments, commodity trading firms, banks, family offices, and pension funds.
Compound, the builders behind one of the most popular decentralized finance apps on Ethereum, just raised an impressive $25 million war chest in a Series A fundraising round that was backed by some of the cryptocurrency arena’s biggest investors.
Revealed on November 14th, the Series A raise saw venture capital firms like Andreesen Horowitz (a16z), Polychain Capital, Paradigm, and Bain Capital Ventures, throw a new round of chips behind the promise of the DeFi app’s future and growing ecosystem. a16z was the raise’s largest investor, although at an unspecified sum.
With the new funding secured, Compound chief executive officer Robert Leshner told Fortune that the name of the name going forward will be making the project’s crypto lending services readily usable by mainstream, non-tech users. As a step in that direction, Leshner said the DeFi protocol will be integrated with other major cryptocurrency companies, e.g. Coinbase, by the end of next year .
And while the Compound team is the main driving force behind its associated dApp, the company plans to continue phasing out their direct stewardship in favor of a more decentralized governance process. To that end, Leshner said:
“As with Bitcoin, we want to ensure that no one, including the company that built it, can exert undue influence on Compound’s protocol. Corporations come and go but we want to build a protocol that lasts forever.”
Of course, lasting forever is a big aim; but that Compound will last a long time already seems clear considering all the other rising Ethereum DeFi “money lego” projects that are currently relying on Compound’s open infrastructure.
Take the example of InstaDapp, which recently raised its own seed round of $2.4 million on the appeal of its automated “bridge” for crypto lenders wanting to move positions between Compound and Maker and vice versa. For context, both Maker and Compound are currently in the top three DeFi projects per value locked within their protocols according to tracker site DeFi Pulse.
a16z: a Big DeFi Believer Both in word and in deed, powerhouse private venture capital firm a16z has been betting big on DeFi.
First, the firm made waves last fall when its crypto arm conducted a “strategic purchase” of MakerDAO’s MKR governance token, which is used to guide the growth of the popular Dai stablecoin. In spending $15 million on the acquisition, a16z bought up six percent of the entire MKR supply at the time.
The VC firm also created a buzz last month when it bought up $235,000 worth of SNX, the associated token of Synthetix, another current top 3 DeFi project per DeFi Pulse that lets users create synthetic assets on Ethereum.
Now with a16z’s investment in the Compound team, the company has completed the “skin in the game” trifecta where decentralized finance’s biggest fledgling projects are concerned. On the news of Compound’s Series A raise, general partner Chris Dixon hailed the project as poised to achieve:
“Compound is a lending protocol that is open to anyone in the world, that disintermediates banks and allows anyone to earn interest on their money. We’ve worked with Robert [Leshner] and his team for over two years and think they are world class technologists and entrepreneurs.”
But a16z isn’t just content to back the promising DeFi projects of today, as the firm is also interested in fostering the next waves of innovation in the sector. Last week, the company unveiled its new Crypto Startup School (CSS), a seven week educational program for crypto startup founders.
“We think that sharing the most important lessons we’ve learned could accelerate the development of existing projects, and inspire more talented people to join the space,” Chris Dixon said of the program.
William M. Peaster
William M. Peaster is a professional writer and editor who specializes in the Ethereum, Dai, and Bitcoin beats in the cryptoeconomy. He's appeared in Blockonomi, Binance Academy, Bitsonline, and more. He enjoys tracking smart contracts, DAOs, dApps, and the Lightning Network. He's learning Solidity, too! Contact him on Telegram at @wmpeaster
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Solana (SOL), one of the leading cryptocurrencies by market cap, has recently shown signs of a potential price recovery after a bearish performance in August.
The asset, which experienced nearly a 10% decline in the past week, has started to regain momentum as it entered September. Solana has risen from a recent low of $124 to above $134 in early trading hours today, showing a 2.7% increase in the last 24 hours, now trading at $132.
Amid this recovery, renowned crypto analyst Javon Marks has recently maintained a bullish outlook on Solana, with a long-standing target of $233.8 for the asset.
Why Is A $233 Target in Sight For Solana? According to Marks, Solana has shown signs of a continued upward trend, with its price potentially rising to $233.8 and even higher if momentum continues.
The analyst’s projection for SOL reaching this mark and beyond is based on a hidden bullish divergence pattern, which SOL has been trading within for quite a while now.
Solana’s price chart. | Source: Javon Marks on X Marks particularly noted in the prediction post on X:
Our $233.8 Target for SOL (Solana) has been maintained since mid 2023 at $16.12, with prices seeing an approximately 1,203% climb afterwards towards the meeting of it. Now, with the pullback just under, this target goes unchanged as the breakout bringing it in play, continues to hold, and with bullish signals coming in, a nearly +72% climb to finish that process of meeting it could be in development.
The analyst further suggested that if Solana breaks past this $233.8 price level, it could see a further rise towards $457, representing an additional 93% increase.
SOL Breakpoint Approaches In addition to the price outlook from Javon Marks, other analysts have weighed in on Solana’s potential price movements, particularly around the upcoming SOL Breakpoint event.
Crypto analyst Marty Party, responding to a post by another analyst named Sai on X, pointed out that historically, Solana’s price has seen significant gains leading up to this event.
Marty Party noted: “Solana Breakpoint pump average is 62%. With SOL currently trading at $133, a 62% increase could push it to $215.46.”
Sai’s post highlighted Solana’s price behavior before previous Breakpoint events. In 2021, Solana saw a 68% price surge leading up to the conference, followed by a 42% rise in 2022 and a 58% increase in 2023.
The Breakpoint event, which showcases the Solana ecosystem’s innovation and development, has historically attracted attention from investors, contributing to the pre-event price rallies.
#Solana Breakpoint in 16 days. Do you know how the Solana price behaves before the breakpoint?
68% price surge in 2021 before Breakpoint
42% price surge in 2022 before Breakpoint
58% Price surge in 2023 before Breakpoint
Follow the 🧵Thread 🧵 to make sure you don’t miss 2024…
— Sai (@SaiPrathap846) September 4, 2024
This year, the Breakpoint event will take place on September 20th in Singapore, and excitement is already building in the Solana community.
With only 16 days to go, analysts like Sai anticipate a potential rally similar to previous years. Whether Solana can replicate its past price surges remains to be seen, but historical data and bullish technical signals suggest the possibility of significant upward movement.
SOL price is moving downwards on the 1-hour chart. Source: SOL/USDT on TradingView.com Featured image created with DALL-E, Chart from TradingView
In brief Thai police arrested Chinese national Tianwei at Don Mueang Airport on June 12 for allegedly stealing $6.15 million in Bitcoin. The arrest followed an April complaint and a May 16 warrant after Tianwei vanished from a business deal in Chiang Rai. It’s the latest in a series of Asian crypto fraud busts, including major cases in Vietnam and India. Thai immigration police arrested a Chinese fugitive at Don Mueang Airport Thursday morning as he attempted to flee to Singapore, ending a manhunt connected to millions in stolen Bitcoin.
The man, Tianwei, was arrested at 6 a.m. local time (7 p.m. ET) on Thursday at the international departure terminal as he attempted to board Lion Air flight SL100, according to a report by local news outlet Khaosod English.
The airport intercept ended a month-long manhunt that began when two Chinese victims reported losing $6.15 million (200 million baht) in Bitcoin to the suspect after a business meeting in Mae Sai district.
Chiang Rai Provincial Court issued the arrest warrant on May 16. Intelligence reports indicated Tianwei would attempt to flee the country, prompting authorities to alert Don Mueang immigration officers.
The suspect reportedly communicated in English during his arrest. Sergeant Suwaphan Utsaha, commander of the Don Mueang Immigration checkpoint, served as an interpreter to inform him of his rights and the charges against him.
Tianwei confirmed his identity and told officers he had never been arrested in this case before.
Thailand's notoriously tough stance on foreign fraud suspects means Tianwei faces a grim future, according to Archer Wolfe, founder of the crypto consultancy firm MohrWolfe and a former resident of Thailand.
"It's no surprise that Thai immigration continues cracking down on fraud amongst foreigners—they're famous for their hardcore measures," Wolfe told Decrypt. "However, once they're suspicious of you, and you get caught, they will dissect your entire life, starting with your smartphone and every conversation you have in it."
Wolfe predicted harsh consequences, saying that the suspect "is going to be extradited back to China" and "the Thai government is then going to keep that Bitcoin unless an exorbitant fee is paid and simply close the book."
Crypto crackdown in AsiaThe arrest comes amid a regional crackdown on crypto fraud that has netted hundreds of millions in seized assets across Asia.
India's Central Bureau of Investigation arrested Delhi resident Rahul Arora on Tuesday and seized over $327,000 in crypto from a cybercrime operation targeting U.S. and Canadian victims through caller ID spoofing and social engineering.
Last month, Vietnamese authorities dismantled the Matrix Chain pyramid scheme after a 200-day investigation, arresting five suspects accused of defrauding 185,000 victims out of nearly $400 million.
In February, Thai and Chinese police teamed up to arrest two Chinese nationals and seize $2.5 million worth of Tether's USDT stablecoin from a large-scale scam operation.
Edited by Sebastian Sinclair
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Panama City, Republic of Panama, February 18th, 2026, Chainwire
Sai today launched Sai Perps, a perpetuals trading platform built to be as fast and intuitive as a centralized exchange with the transparency and self-custody of onchain settlement. The platform features gasless transactions, removing friction for traders while maintaining full onchain security.
Sai also unveiled Let’s Go Saicho, a one-month onchain trading competition running February 18 through March 19, 2026, with $25,000 in total prizes. The campaign is structured in two phases designed to reward both performance and participation: a PNL competition for profitable traders, followed by a first-come, first-serve “Be Early” phase for traders who engage early and hit a minimum volume threshold.
“Onchain markets shouldn’t require traders to compromise between speed and self-custody,” said Matthias Darblade, a Sai contributor. “Sai Perps is designed for active traders who want a clean, CEX-like experience, while still getting the transparency and settlement guarantees that only onchain infrastructure can provide.”
Why Sai vs. Other Perps DEXs
Sai Perps is built around the premise: trading should be accessible without the usual friction of onchain perps. Compared to existing perpDEXs, Sai stands out in many ways:
CEX-like UX, onchain settlement: A streamlined trading experience designed to be fast and familiar, with trades settling onchain for transparency and verifiability. Infrastructure built for deep, smooth markets: Sai has focused heavily on liquidity, risk systems, and oracle design to support more consistent execution and robust market integrity. Accessible to both new and experienced traders: A platform experience optimized for speed and clarity, without sacrificing advanced trading capability. Roadmap beyond crypto perps: Sai’s planned expansion includes stocks, commodities, and FX markets, plus user-focused capital efficiency features like Sai Savings (yield on deposits), and cross-chain deposits. Let’s Go Saicho: $25,000 Trading Competition (Feb 18 – Mar 19, 2026)
Let’s Go Saicho is a one-month competition rewarding trading on Sai across two two-week phases:
Phase 1 (Feb 18 – Mar 4): PNL Competition | $20,000 prize pool, 50 winners Phase 2 (Mar 5 – Mar 19): Be Early (First Come First Serve) | $5,000 prize pool, 50 winners All markets listed on Sai are eligible in both phases. Traders may go long or short on any listed pair using supported collateral (e.g., USDC and other supported assets such as stNIBI, as available on Sai). For more details on Sai’s Trading Competition, visit here.
About Sai
Sai is a new perpetuals trading platform designed to feel as easy and fast as a centralized exchange, while still settling fully onchain. Sai’s mission is to make advanced trading accessible without sacrificing transparency or self-custody.
Sai is focused on finalizing its core trading infrastructure and user experience, building liquidity and risk systems for smoother execution, and laying groundwork for yield features that help users earn on idle collateral. Next on the roadmap: expanded markets (stocks, commodities, FX), Sai Savings, cross-chain deposits, and smart accounts for gasless trading.
Panama City, Republic of Panama, 18th February 2026, ChainwireBy Chainwire
Feb 18, 2026
3 min read
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Panama City, Republic of Panama, February 18th, 2026, Chainwire
Sai today launched Sai Perps, a perpetuals trading platform built to be as fast and intuitive as a centralized exchange with the transparency and self-custody of onchain settlement. The platform features gasless transactions, removing friction for traders while maintaining full onchain security.
Sai also unveiled Let’s Go Saicho, a one-month onchain trading competition running February 18 through March 19, 2026, with $25,000 in total prizes. The campaign is structured in two phases designed to reward both performance and participation: a PNL competition for profitable traders, followed by a first-come, first-serve “Be Early” phase for traders who engage early and hit a minimum volume threshold.
“Onchain markets shouldn’t require traders to compromise between speed and self-custody,” said Matthias Darblade, a Sai contributor. “Sai Perps is designed for active traders who want a clean, CEX-like experience, while still getting the transparency and settlement guarantees that only onchain infrastructure can provide.”
Why Sai vs. Other Perps DEXs
Sai Perps is built around the premise: trading should be accessible without the usual friction of onchain perps. Compared to existing perpDEXs, Sai stands out in many ways:
CEX-like UX, onchain settlement: A streamlined trading experience designed to be fast and familiar, with trades settling onchain for transparency and verifiability. Infrastructure built for deep, smooth markets: Sai has focused heavily on liquidity, risk systems, and oracle design to support more consistent execution and robust market integrity. Accessible to both new and experienced traders: A platform experience optimized for speed and clarity, without sacrificing advanced trading capability. Roadmap beyond crypto perps: Sai’s planned expansion includes stocks, commodities, and FX markets, plus user-focused capital efficiency features like Sai Savings (yield on deposits), and cross-chain deposits. Let’s Go Saicho: $25,000 Trading Competition (Feb 18 - Mar 19, 2026)
Let’s Go Saicho is a one-month competition rewarding trading on Sai across two two-week phases:
Phase 1 (Feb 18 – Mar 4): PNL Competition | $20,000 prize pool, 50 winners Phase 2 (Mar 5 – Mar 19): Be Early (First Come First Serve) | $5,000 prize pool, 50 winners All markets listed on Sai are eligible in both phases. Traders may go long or short on any listed pair using supported collateral (e.g., USDC and other supported assets such as stNIBI, as available on Sai). For more details on Sai’s Trading Competition, visit here.
About Sai
Sai is a new perpetuals trading platform designed to feel as easy and fast as a centralized exchange, while still settling fully onchain. Sai’s mission is to make advanced trading accessible without sacrificing transparency or self-custody.
Sai is focused on finalizing its core trading infrastructure and user experience, building liquidity and risk systems for smoother execution, and laying groundwork for yield features that help users earn on idle collateral. Next on the roadmap: expanded markets (stocks, commodities, FX), Sai Savings, cross-chain deposits, and smart accounts for gasless trading.
