Jito [JTO] is up about 29% in the past 24 hours, extending its weekly rally to more than 33%. The daily trading volume has jumped by more than 161.6% to around $123 million, indicating real demand.
The growing momentum of the ‘Jito economy’ drives the demand, and here is how it is shaping JTO’s trajectory:
‘Jito economy’ pushing JTO’s price up? Many factors influenced the ‘Jito economy,’ including staking rewards, buybacks from fees, and increased trading activity. For example, different lending and staking protocols increased the average APY from 4% to 5.58%.
However, that of Bybit rose to 7.30%. This represented an 82.5% increase, framing the token as a key Solana [SOL] infrastructure play. This higher yield created a strong incentive to stake JTO, effectively locking up supply and reducing immediate sell pressure.
Source: CoinMarketCap Additionally, there was the introduction of JTX fees, which were going to JTO holders. Several revenue lines representing the ‘Jito economy,’ including JTX and JitoSOL, influenced JTO’s buybacks.
Despite JTO getting the fee share from JTX right, its core game was still staking, not the exchange trading of perps and the Spot market. JTX needs to achieve actual volume dominance to be compared with the impact of staking rewards.
This holder growth was evident as the number rose from 81.52K to 81.58K in a day of increased speculative trading. The token’s volume rose from $26.98 million to $97.14 million, reflecting real demand in JTO.
Source: DefiLlama In fact, the token was among the top volume-change leaders on major CEXs, that is, Binance, Bybit, and Coinbase. All together, this represented momentum in the ‘Jito economy’ narrative, thus pushing the altcoin’s price.
JTO’s buying spree resumes On the charts, JTO’s price has been respecting a rising trendline after breaking out from a two-month range. The head of an inverted head-and-shoulders pattern touched the rising trendline, and the price has broken above the neckline.
The MACD has had a crossover and the second green bar, which is double the first one. Additionally, the net volume spiked for the third time in the month, reaching 4.74 million JTO.
The day’s token volume indicated a resumption of a buying spree seen in May.
Source: JTO/USDT on TradingView Currently, the altcoin is testing the $0.70 level, which prevented the May rally from advancing higher. The ongoing pattern could mean continuation.
Otherwise, failure to breach this level would indicate a potential return to the neckline at $0.55 for a retest. It could even go lower, specifically to the support level indicated by the slanting trendline.
Final Summary JTO surged by more than 29% in the past 24 hours, driven by the ‘Jito economy’ narrative, which has strong momentum. JTO’s buying spree returns, but bulls struggle at the $0.70 zone—a break above would suggest uptrend continuation.
The BeInCrypto Institutional 100 Awards 2026 enters its final stage with the Access to Digital Assets pillar narrowed to 16 shortlisted firms across four categories.
This pillar focuses on companies that help institutions enter, evaluate, and manage digital asset exposure. The shortlist includes product issuers, asset managers, global banks, and market data platforms. The winners were announced at Proof of Talk in Paris on June 2, 2026.
The firms below are listed alphabetically within each category. They are not ranked.
Welcome to the BeInCrypto x @ProofOfTalk Institutional 100 Awards, live from the iconic Louvre Palace in Paris.
Tonight we recognize the institutions and leaders shaping the future of digital asset finance across 25 categories.
Thank you for being part of this historic first…
— BeInCrypto (@beincrypto) June 2, 2026 Best Digital Asset Product This category recognizes regulated investment products that give institutions exposure to digital assets. The shortlist covers spot ETFs, multi-asset crypto products, and tokenized funds.
Shortlisted FirmWhy It Made the ShortlistBitwiseBSOL became the largest US spot Solana ETF after its October 2025 NYSE launch. It captured over 80% of the category’s cumulative inflows. BITB also anchors Bitwise’s $15 billion-plus crypto product platform across the US, UK, and Europe.BlackRockIBIT scaled to roughly $67 billion in AUM by early May 2026, making it the institutional benchmark for spot Bitcoin ETF exposure. BUIDL also crossed $3 billion, leading the global tokenized money market fund category.Fidelity InvestmentsFBTC ranks second behind IBIT in the spot Bitcoin ETF cohort, with about $17 billion in AUM. Fidelity also custodies the product in-house through Fidelity Digital Assets, NA, its national trust bank.Franklin TempletonThe BENJI tokenized money market fund suite crossed $1.98 billion in AUM by April 2026. It is now deployed across more than eight public blockchains, giving it the broadest chain coverage among institutional tokenized funds. Fund Manager of the Year This category recognizes firms managing major dedicated investment vehicles in crypto. It covers venture capital, hedge funds, and tokenized strategies.
Shortlisted FirmWhy It Made the Shortlista16z Cryptoa16z closed Crypto Fund V at $2.2 billion in May 2026. The firm remains one of the largest crypto-dedicated venture managers, with portfolio companies including Uniswap, Anchorage Digital, Jito, and Kalshi.Bitwise Asset ManagementBitwise manages more than $15 billion in client assets across 30-plus crypto investment products in the US, UK, and Europe. Its BSOL launch in October 2025 helped reshape the spot Solana ETF market.Pantera CapitalPantera was the first US institutional asset manager dedicated to blockchain. Founded in 2003, it now operates across venture, hedge, and tokenized strategies with more than $5 billion in AUM.ParadigmParadigm raised a $1.5 billion fund in February 2026 to expand into AI and frontier technologies alongside its core crypto thesis. Its portfolio includes Coinbase, Uniswap, Optimism, and Flashbots. Leader in Digital Asset Adoption This category recognizes institutions putting digital assets, tokenized instruments, and blockchain settlement infrastructure into live client service at scale.
Shortlisted FirmWhy It Made the ShortlistBlackRockKinexys by J.P. Morgan brought JPM Coin (now JPMD) to public blockchains. The rollout included Base in 2025 and Canton Network in January 2026, expanding institutional access to bank-issued deposit tokens.FidelityFidelity combines spot crypto ETFs, including FBTC and FETH, with in-house custody through Fidelity Digital Assets, NA. This gives the firm one of the most vertically integrated institutional digital asset stacks in the US.HSBCHSBC Orion has enabled more than $3.5 billion in digitally native bonds globally. The bank also received an HKMA stablecoin issuer licence ahead of a planned HKD stablecoin launch in the second half of 2026.JPMorgan ChaseKinexys by J.P. Morgan brought JPM Coin, now JPMD, to public blockchains. The rollout included Base in 2025 and Canton Network in January 2026, expanding institutional access to bank-issued deposit tokens. Best Market Intelligence & Data Platform This category covers platforms that provide the on-chain, market, and index data institutions use to evaluate and monitor digital asset exposure.
Shortlisted FirmWhy It Made the ShortlistCoin MetricsTalos acquired Coin Metrics in July 2025 for more than $100 million, marking Talos’s largest deal to date. The acquisition integrated Coin Metrics’ on-chain, market, and index data with institutional trading and portfolio management infrastructure.Dune AnalyticsDune hosts more than 200,000 dashboards, 6.5 million queries, and 1.5 million datasets across 100-plus blockchains. In 2026, it launched AI Agents and the dbt Connector for institutional data workflows.GlassnodeGlassnode supports institutional on-chain analysis across more than 1,700 assets and 900 metrics. It also publishes quarterly Charting Crypto reports with Coinbase Institutional and launched a Glassnode MCP server in 2026.KaikoKaiko serves more than 200 enterprise clients globally and joined ISDA in April 2026. Its collaboration with S&P Dow Jones Indices also brought the iBoxx US Treasuries Index on-chain as a tokenized benchmark. About the BeInCrypto Institutional 100 The BeInCrypto Institutional 100 is an annual research program covering 25 categories across six pillars: Capital Markets & Infrastructure, Access to Digital Assets, Tokenization & On-Chain Finance, Enterprise Blockchain, Regulation & Governance, and Retail to Crypto Bridge.
The 2026 evaluation window ran from April 2025 through March 2026.
Shortlists were selected through BeInCrypto’s editorial research methodology and blind scoring by an external panel of institutional digital asset practitioners.
Each category follows one of three scoring tracks, depending on the data profile of the market. Public filings, regulatory registers, audited reports, on-chain data, ETF flow trackers, and nominee disclosure forms were used where available.
Final blended scores are not published. Inclusion on the shortlist reflects the combined outcome of research and judge review.
A whale-driven rally has pushed JTO, the native token of Jito, up 14% over the last 24 hours as confidence grew. Yet an ongoing change of hands is underway as retail takes over.
That handover, visible across multiple key data points, shows retail this time betting decisively against further upside, leaving the whales’ effort in vain. The effect points to a major downside move and a sharp price decline.
Retail wrests momentum from whales as netflow flips negative A clear whale-driven move powered JTO’s price and gains, with the asset rallying as the whale-retail delta surged into positive territory, hitting a high of 0.139 in the late hours of the 5th of June.
Retail has since taken over as the delta continues to drop, now reading around negative 0.014 and confirming retail’s rising presence in the market.
Source: CoinGlass The shift hands retail the momentum, and the outcome shows up in netflow. On the 5th of June, the asset logged net buys of 205,000, but by the next day its netflow had swung to roughly $860,000 in net sales.
This selling pressure could read as investors taking profit on their recent gains, closing positions to cash in on the rally.
JTO perpetual market turns against the rally The retail takeover isn’t confined to spot; it has intensified in the JTO perpetual market. At press time, the Funding Rate has turned negative at -0.0689, indicating that traders hold more short contracts open than long.
Speculative bets like these, paired with structural weakness in spot, eventually catch up with price and force a decline as JTO changes hands to sellers.
Source: CoinGlass Notably, CoinGlass puts press-time perpetual volume near $100.45 million, dominated by sellers. Moreover, continued selling volume would weigh heavily on JTO’s gains and force a price decline in the near term.
Capital floods in as bears position for a drop The pressing concern now is the shift in sentiment, with bears moving to capitalize on it.
Open Interest (OI), which measures the capital committed to an asset’s perpetual market, offers the clearest hint. At the time of writing, JTO’s OI has climbed 37% in the last 24 hours to $37.06 million.
Source: CoinGlass An influx of capital while the negative Funding Rate means positioning across the market has grown, most likely from sellers.
The risk of losing on a long bet now outweighs the risk of losing on a short bet by 3.4 to 1, making a bet on a JTO decline the more profitable play as retail signals clear bearish sentiment.
Final Summary JTO rose 14% in 24 hours on whale-driven buying, but retail traders have since taken over and are betting against further upside. Sentiment has flipped bearish, leaving JTO exposed to a possible price decline in the near term.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
5 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
16 June 2026 | 04:12 Jito has spent two years as invisible infrastructure — powering 90% of Solana's validator stake while its token traded well below its 2023 highs. That changes with JTX.
Key Takeaways:
JTO spiked 26% in seven days, driven by a Bitget staking event and anticipation around the JTX platform launching in July 2026 JTX will direct 80% of protocol revenue to open-market JTO buybacks — the first direct value mechanism for token holders Annual token emissions of $96M–$128M still outpace projected buybacks of $19M–$30M Jito (JTO), the governance token of one of Solana’s most deeply embedded infrastructure protocols, recorded a sharp price surge between June 15 and 16, 2026 — moving from around $0.55 to an intraday high of $0.79 before settling near $0.71 at publication time. The 24-hour trading volume exceeded $248 million, a multiple of its recent average. The seven-day gain of 18.7% placed JTO among the more notable moves for assets with a market capitalization above $300 million in that period. Three distinct factors are behind the move: a short-term liquidity event on Bitget, a structural change to the token’s economic design, and the announced launch of a consumer-facing product that would represent a significant directional shift for the project.
The Bitget Event: How Staking Lockups Move Prices The immediate trigger for the sharpest part of the spike was a PoolX event on Bitget, which offered a 35,000 JTO reward pool to users who staked BGSOL during a fixed window. The mechanism is straightforward: when a meaningful portion of circulating supply gets locked into a staking contract for a short period, the available float on the secondary market contracts. Any incoming buy pressure — even at relatively modest volumes — then meets thinner order books, which amplifies upward price movement. These events rarely produce durable price levels on their own, but they can accelerate moves that are already being driven by broader fundamental changes. In this case, the staking event coincided with a period of rising market discussion around Jito’s product roadmap, which likely contributed to the scale of the move.
What JTX Actually Is — and Why It Changes Jito’s Economic Position Until now, Jito has operated primarily as invisible infrastructure. Its MEV-optimized validator client processes roughly 90% of Solana’s active stake, and its liquid staking product JitoSOL holds approximately $2.4 billion in assets under management — a figure that has held relatively stable even as JTO’s price fell from historical highs of $6.01 in late 2023 to its current sub-dollar levels.
The protocol captures a significant share of Solana’s Real Economic Value through MEV tips — according to Blockworks’ Solana Financial Income Statement, Jito tips accounted for $10.5 million of the $43.2 million in total REV recorded in the most recent quarter, or roughly 25-30% of the network’s economic output. That share is lower than the 41.6%–66% range cited in the Helius H1 2025 Ecosystem Report, a decline the Solana Foundation attributes to microstructural improvements that reduced the network’s dependence on out-of-protocol tips. Either way, that revenue has historically flowed to stakers and validators rather than to JTO token holders in a direct, measurable way.
JTX introduces a direct revenue mechanism that did not exist before. The platform is being developed as a self-custodial, non-custodial onchain trading application targeting experienced retail traders who currently use centralized exchanges. It will launch with spot trading and add perpetual futures and prediction markets in subsequent phases. The economic design directly connects platform activity to JTO: 80% of all trading fees generated by JTX will fund open-market buybacks of the token. The remaining 20% goes to the DAO treasury, which under governance proposal JIP-24 already receives 100% of Block Engine fees.
The Jito Foundation has also formally relocated its operations back to the United States, citing clearer regulatory frameworks for digital assets, and announced institutional partnerships in the Asia-Pacific region aimed at establishing JitoSOL as a default collateral layer for institutional liquid staking.
JITO PROTOCOL — KEY METRICS (JUNE 2026) Metric Value Validator Client Market Share ~90% of active Solana stake JitoSOL Assets Under Management ~$2.4 Billion Share of Solana Real Economic Value (MEV Tips) 25% –30% Projected Annual Protocol Buyback (JTX revenue) $19M – $30M Annual Token Emissions $96M – $128M Block Engine Fee Distribution (JIP-24) 100% → DAO Treasury The Supply Overhang That the Buybacks Don’t Fully Address The projected $19M–$30M in annual buybacks from JTX revenue needs to be read alongside annual token emissions in the range of $96M–$128M. Jito issues tokens continuously to incentivize validators, stakers, and protocol participants — a standard design for infrastructure protocols, but one that creates persistent net inflation in the token supply. Even at the upper end of buyback projections, the net effect remains dilutive for existing holders. Additionally, vesting schedules for early investors and core contributors continue running through December 2026, generating regular multimillion-dollar unlock events that add secondary market supply.
JTX Against Hyperliquid: A Structural Comparison Jito Labs has positioned JTX as a competitor to Hyperliquid, the dominant decentralized perpetuals platform:
JTX vs. HYPERLIQUID — ARCHITECTURAL COMPARISON Feature Jito JTX Hyperliquid Architecture App-layer on Solana L1 Sovereign L1 Appchain Execution Engine Jito BAM / Block Engine (~200ms) Custom Tendermint consensus Order Book Onchain / hybrid Native decentralized onchain Asset Universe Solana ecosystem focus Broad, cross-chain Revenue Model 80% → JTO buybacks Stays within HYPE ecosystem Maturity Launching July 2026 Established, billions in daily volume Hyperliquid operates on a sovereign Layer-1 blockchain built specifically for high-frequency order book matching. Because it does not share block space with NFT minting, meme coin launches, or other Solana ecosystem activity, it can consistently process tens of thousands of trade messages per second with minimal latency variance. JTX runs on top of Solana’s shared L1, which gives it access to the full Solana liquidity ecosystem and native integration with JitoSOL, but also means execution quality is partially dependent on network conditions at any given moment.
Jito’s BAM (Block-Analytic-Matrix) client has expanded to 28% of native Solana stake and has brought block engine auction intervals down to approximately 200ms — competitive for most retail trading purposes, but a different category than a purpose-built trading chain.
“We’re targeting the pro retail, prosumer trading audience on Solana. We feel there’s a gap there. A lot of the tools people use today are made for an older era on Solana. The assets people are trading are different now than what they used to be.”
He added that the platform is explicitly going after users on centralized exchanges and traders migrating from other chains.
The economic model difference is also significant: Hyperliquid’s revenue primarily compensates validators and stakers securing its own chain, while JTX’s design explicitly directs the majority of fees toward token buybacks.
Technical Picture: RSI Neutral, Price Above 50-Day SMA The daily chart on Coinbase (June 16, 2026) shows JTO at $0.7168, having crossed above the 50-day simple moving average of $0.5044 during the surge. The RSI (14) reading of 66.20 is approaching but not yet in overbought territory. The 100-day and 200-day SMAs remain at $0.4032 and $0.3792 respectively, meaning the current price sits above all three moving averages — an unusual configuration for an asset that spent most of the past six months in a slow decline.
This article is for informational purposes only and does not constitute financial advice. Consult a professional before making investment decisions.
Author
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
Solana infrastructure platform Jito [JITO] has pumped 40% this week, bringing 2026 recovery gains to over 270%.
As of writing, the token traded at $0.78, just 30% away from the psychological level of $1. If reclaimed, the altcoin will effectively reverse the entire drawdown seen since the October 10 crash.
Can JTO bulls reclaim $1? The altcoin bottomed near $0.2 in February, and the steady recovery to $0.8 meant a 4x run in the past four months. Still, analysts were bullish and expected more potential upside.
According to analyst Ansem, the upcoming Hyperliquid-like JTX Trade will boost the JTO token, calling current levels a buy zone. For him, JTO could front another 3x pump from the current levels.
I think $JTO is a good spot to buy & hold here, extremely beaten down after 10/10 and general underperformance of SOL alts combined with JTX Trade launch soon directing 80% of all fees to $JTO buys, while they already run a lot of Solana’s core infra.
A 3x run would imply a $1.68 target. Well, the Fibonacci retracement tool (orange) marked out levels similar to Ansem.
When measured from the H2 2025 peak and the 2026 low, the $1.68 coincided with the golden zone (50%-61.8% Fib level). Notably, this would be the second upside target. But first, bulls must reclaim $1 as support before eyeing the golden zone.
Source: JTO/USDT, TradingView When zoomed down to the daily chart, JTO bulls have been using the rising trendline support as a buying zone. If the support holds, any pullbacks could attract new demand at the level to eye $1 and above.
Source: JTO/USDT, TradingView A sustained drop below the support level would invalidate the bullish outlook. In such a scenario, JTO could slip to the 200-day Moving Average (MA).
JTO: The JTX Trade factor That said, Jito Labs has been focused on infrastructures like the Jito-Solana validator client and Jito block engine. However, apps on top of these infrastructures have been capturing more revenue and could explain its planned JTX Trade.
Think of JTX Trade as a unified trading platform like Hyperliquid, complete with perps and prediction market offerings.
With 80% of JTX Trade fees set for JTX buybacks, the token’s latest run was partly influenced by the platform’s upcoming July spot trading launch.
In fact, analyst Nick Ford predicted that,
Fee generation of $10 million feels safe based on the market penetration Jito can likely acquire. This results in $8 million+ in buying pressure. Estimating a 2-5% buyback of $JTO itself within 1-yr.
Whether the rally will continue after the July debut or if it turns out to be a ‘sell-the-news’ event remains to be seen.
Final Summary JTO pumped 40% this week, marking a 4x run from February’s low of $0.2. Analysts projected another 3x was a feasible pump ahead of the Hyperliquid-like JTX Trade debut in July.
Alchemy Pay, a top payment gateway for converting regular money into cryptocurrency, has teamed up with Fusionist. It is a leader in blockchain gaming. It will make it easier for people to buy and use Fusionist’s native token, $ACE. Alchemy Pay and Fusionist will benefit from this partnership by making $ACE tokens easier to buy worldwide. Alchemy Pay’s platform now accepts preferred payment methods and local fiat currencies. This makes the service more accessible and easier to use for cryptocurrency fans.
— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) March 19, 2024 Fusionist Leverages Alchemy Pay Partnership to Enhance $ACE Token Visibility This partnership boosts Alchemy Pay’s cryptocurrency payment ecosystem dominance. Alchemy Pay adds more tokens and simplifies fiat-to-crypto conversions to promote cryptocurrency use and make the growing digital asset market easy to use. Alchemy Pay Fiat On-Ramp adding $ACE tokens shows its commitment to adapting to users’ needs and helping the cryptocurrency community.
Fusionist benefits from Alchemy Pay’s integration with $ACE, making it more visible and usable. Fusionist wants to revolutionize gaming with decentralized finance. Through a blockchain-powered gaming platform. Fusionist uses the $ACE token as its main currency, encouraging users to participate in many gaming projects. For more people to buy and use $ACE tokens, Fusionist can integrate them onto the Alchemy Pay Fiat On-Ramp and use its large network and user base.
Fusionist’s Endurance website has a “Buy ACE” section that lets community members buy $ACE tokens directly through Alchemy Pay’s ramp support. This integration makes it easier for Fusionist’s community to get $ACE tokens without third parties, improving their experience. Fusionist wants to increase user engagement by making tokens easier to get. This boosts ecosystem growth and adoption.
Alchemy Pay and Fusionist Partner for Industry Transformation Fusionist and Alchemy Pay are doing more than adding tokens. They want to boost worldwide blockchain gaming growth and innovation. Fusionist’s innovative blend of gaming and decentralized finance fits Alchemy Pay’s mission to make cryptocurrency more accessible and inclusive. The two groups want to break down the barriers between gaming and finance and create decentralized gaming experiences.
Ultimately, Alchemy Pay and Fusionist’s partnership could boost the gaming industry adoption of cryptocurrency. The partnership wants to open and decentralize the gaming ecosystem by making games more accessible, and liquid, and encouraging new ideas. These partnerships are crucial to popularizing the digital asset market and expanding blockchain gaming as the market evolves.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Fusionist (ACE) is a project that combines the advanced Web3 AAA game Fusionist with the decentralized game/social infrastructure layer Endurance. Endurance has been operating on its mainnet since January 2023, achieving significant growth with over 1.86 million token holder wallets and more than 100 million transactions. The ACE token is used for various purposes such as in-game spending, ecosystem participation, staking, and governance, and serves as gas for all transactions on the Endurance Blockchain. In this article, you can find answers to two frequently asked questions: What is Fusionist (ACE) and how to buy Fusionist (ACE) with TRY.
What is Fusionist (ACE)?Fusionist is a Web3 AAA game and decentralized game/social infrastructure layer that combines an advanced blockchain game with a robust social platform. The project includes Fusionist, a high-quality game built by experienced gaming professionals using Unity and HDRP technologies to offer players an immersive and engaging experience. In addition to Fusionist, the project also includes Endurance, a decentralized gaming and social blockchain that has been live on the mainnet since January 2023.
Fusionist offers a top-tier gaming experience designed by industry veterans to captivate and entertain users. The game leverages the latest technology to provide high-quality graphics and gameplay that appeal to both casual and hardcore gamers. The team behind Fusionist is dedicated to creating a diverse and rich gaming environment where players can fully immerse themselves in the virtual world.
The decentralized gaming and social platform Endurance enhances the Fusionist experience by providing a comprehensive infrastructure layer. This layer includes various gaming and social features such as Expedition, Auction House, ACEdomain, and Beta testing. Since its launch, Endurance has achieved significant growth by bringing together over 1.86 million token holder wallets and surpassing 100 million transactions. This robust infrastructure allows users to find their preferred ways of gaming, socializing, and earning within the ecosystem.
ACE token is the mainnet asset of the Endurance Blockchain and serves multiple purposes within the ecosystem. ACE can be used to purchase items, tournament tickets, and earn rewards within the game. The use of ACE is not limited to Fusionist, as it also encompasses new games developed by the Fusionist team and its partners. This broad application ensures that ACE remains a valuable asset for all participants in the ecosystem.
Beyond in-game usage, the ACE token is an integral part of the broader Endurance ecosystem. Users can purchase goods and services across the platform, including social products and domain names. This extensive utility increases user engagement and fosters a vibrant, interconnected community. ACE tokens also play a crucial role in staking and governance, allowing holders to stake their tokens to secure the network and participate in governance decisions, thereby influencing the platform’s future direction.
Finally, the ACE token is used as gas for all transactions on the Endurance Blockchain. This fundamental function ensures the smooth and efficient operation of the blockchain, facilitating millions of transactions and supporting the ecosystem’s growth. As Endurance continues to expand, the role of ACE as a transaction medium is expected to become increasingly vital, forming the foundation of the entire infrastructure.
How to Buy Fusionist (ACE) with TRY?Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy Fusionist (ACE). On Binance TR, where you can quickly create an account, you can trade over 100 cryptocurrencies, including ACE. To buy Fusionist (ACE) with TRY on Binance TR, you can follow the steps below.
How to Open an Account on Binance TR?Opening an account on Binance TR is quite easy. For this, you need to go to trbinance.com and proceed from the “Create Account” step. In the first step of creating an account, you will be asked to enter basic information such as your email address, phone number, name-surname, date of birth, nationality, and T.C. identification number.
After entering the requested information completely and accurately, an email/SMS verification will be conducted to confirm and verify the information. After completing this process, you will proceed to the second step, which is identity verification (KYC).
How to Verify an Account on Binance TR?Identity verification on Binance TR is one of the security procedures that need to be completed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can choose to complete the verification process from your phone or through the official Binance TR website. Note that you will need your mobile phone to perform identity verification from the website as well.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click on “Verify.” In the next step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, you can click on the “Copy URL” option to have the identity verification address sent to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, first, tap on the “Identity” option to continue.
Then a screen like the one below will appear. To continue with the verification process, first, select the document type that is suitable for you.
After selecting the document type, you can continue by tapping on the “Upload Front Side” option. After taking a photo of the front side of the document according to the selected document type, tap on the “Upload Back Side” option and take a photo of the back side of the document and upload it. When taking photos of the front and back sides of your ID card or driver’s license, make sure the images are clear and the information in the photo is easily readable.
Then you can continue by tapping on the “Selfie” option. At this point, your phone’s front camera will open, and you will need to scan your face. Once the camera opens, make sure your face fills the camera area as much as possible.
After completing all these steps accurately and correctly, your identity verification process will be completed in a short time.
How to Deposit TL on Binance TR?You can easily deposit TL into your Binance TR account through all banks. You can deposit TL 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts and perform transactions without interruption. For other banks, you can deposit up to 50,000 TL 24/7 via FAST. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, first, go to trbinance.com, hover over the “Wallet” option at the top left of the homepage, and click on the “Deposit” option from the drop-down menu.
Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST to that bank. All you need to do now is use the information shown on the page of your preferred bank to transfer the amount you want to deposit into your Binance TR account via transfer, EFT, or FAST.
After your bank completes the transfer process, the funds you sent will automatically be reflected in your Binance TR account wallet.
How to Buy ACE Coin with TL on Binance TR?After the deposit process, you can proceed to the step of buying ACE coin with TL by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking on this option, the following page will open. By typing “ACE” in the search section on the right side of this page, you can go to the ACE/TRY option and go to the page for buying ACE with TL.
Now the following ACE trading page will open. On this page, in the area marked with a red box, you need to enter the price at which you want to buy ACE in the first box and the number of ACE you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy ACE” button.
What is Binance TR?Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users supported by Binance TR with Binance’s core functions gain access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Fusionist (ACE) is the fusion of the Blockchain-based game Fusionist with the game/social infrastructure layer Endurance. The value proposition of Endurance and Fusionist is to combine the latest Blockchain technology with a high-quality gaming experience, as seen in Fusionist’s use of the Unity engine and HDRP technology. In this article, you’ll find answers to many questions such as what Fusionist is, what ACE coin is, and how to acquire ACE coin, which will soon be listed on the major cryptocurrency exchange Binance.
Fusionist is a combination of a Blockchain game (Fusionist) and a game/social infrastructure layer (Endurance). Fusionist is a Web3 AAA game built by a group with experience in the gaming industry. It uses Unity and HDRP technologies to provide all users with a first-class product and engaging gaming experience.
Endurance, on the other hand, is a decentralized game/social Blockchain that has been on the mainnet since January 2023. The infrastructure layer offers users various gaming and social options (Expedition, Auction House, ACEdomain, Beta testing, etc.), allowing all participants to easily find their own ways to play, socialize, and earn. The Endurance Blockchain provides a multi-layered architecture to ensure scalability and facilitate the reuse of existing modules. This architectural infrastructure consists of client interface execution engines, network protocols, and storage. Additionally, this architecture enables the easy and efficient modification of existing smart contracts.
Since the launch of Endurance in January 2023, it has reached wallet addresses holding over 1.86 million tokens, and the number of transactions on the network has exceeded 100 million, making a significant breakthrough.
ACE Coin OverviewACE is the native asset of the Endurance Blockchain and has many uses, including in-game spending/earning, ecosystem participation, staking and governance, and transaction fees. Let’s take a closer look at these uses:
In-Game Spending/Earning: It is used to purchase in-game items, tournament tickets, winner rewards, and more. The rewards for the game are not limited to the flagship Fusionist game but are also available in other games built by the Fusionist Team and its partners.Ecosystem Participation: It is used by users to purchase products and services throughout the Endurance ecosystem (social products, domain, etc.).Staking and Governance: ACE coin holders can stake their coins to secure the network and also vote on decisions regarding network governance.Transaction Fees: ACE coin is used as a transaction fee for all transactions performed on the Endurance Blockchain.As of December 16, 2023, the total supply of ACE is limited to 147 million units.
How to Acquire ACE Coin?ACE coin can be safely bought and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. ACE coin will be listed on Binance on December 18, 2023, and will be traded in the ACE/USDT, ACE/FDUSD, and ACE/TRY trading pairs.
To purchase ACE (if you don’t have one), you first need to register on the Binance exchange. After completing the registration process, you should transfer cryptocurrency or fiat money like Turkish lira to your account wallet on Binance. Once the transfer is complete, you can buy ACE coins in any of the three pairs mentioned above.
Binance‘s ACE/USDT trading pair to buy, you should first navigate to the interface of this trading pair. From the limit tab on the trading pair interface, enter the amount you want to purchase in the specified field. After entering the amount, the purchase is completed with the Buy ACE order.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Binance, a leading crypto exchange, has informed the delisting of spot trading pairs for several tokens, sparking speculations. The tokens are Fusionist (ACE), AC Milan Fan Token (ACM), Book of Meme (BOME), Dymension (DYM), Metal DAO (MTL), Pixels (PIXEL), QuarkChain (QKC), Radworks (RAD), and Renzo (REZ). Among these, QuarkChain (QKC) saw the steepest decline, dropping 12%. This move reflects Binance’s commitment to ensuring market quality, sparking varied reactions across the market.
Binance Announces Delisting Of BOME, ACE, & Others Binance announced on December 24 that it would remove 11 trading pairs. The affected trading pairs include ACE/BTC, ACM/TRY, BOME/BTC, DYM/BTC, MTL/TRY, PIXEL/BNB, PIXEL/FDUSD, QKC/BTC, RAD/BTC, REZ/FDUSD, and TUSD/TRY.
The exchange said that the base and quote assets of these tokens will still be available for trading through other spot pairs. Additionally, the top crypto exchange said that it would terminate its Spot Trading Bots for these pairs on the same date.
Meanwhile, the delisting will take effect at 03:00 (UTC) on December 27. Users should cancel or update their Spot Trading Bots to avoid potential losses. The exchange reiterated that delisting specific trading pairs does not affect the availability of the underlying tokens on its platform.
Will The Crypto Prices Dip Ahead? The Binance delisting announcement has sparked varied market reactions across the 10 affected tokens. Fusionist (ACE) price saw a modest 4% increase, trading at $2.157, with a 24-hour low of $2.015 and a high of $2.218. Similarly, AC Milan Fan Token (ACM) price climbed 4% to $1.634, with lows and highs of $1.566 and $1.645, respectively.
Book of Meme (BOME) price gained approximately 5%, trading at $0.0065, supported by a $450M market cap. Dymension (DYM) price experienced a 6% rise, trading at $1.50, with its 24-hour low and high recorded at $1.40 and $1.542. Metal DAO (MTL) price mirrored the positive trend, climbing 6% to $1.20, driven by a $94M market cap.
Pixels (PIXEL) price saw a 4.6% uptick, reaching $0.16. However, not all tokens benefited, as QuarkChain (QKC) price suffered a steep 12% decline, trading at $0.0112. Minor gains were recorded for Radworks (RAD) at $1.256 and Renzo (REZ) at $0.036, each with a modest 2% increase.
Historically, Binance delistings have had severe impacts on token performance. For instance, Heroes of Mavia (MAVIA) price fell by 28%, OMG Network (OMG) price dropped by 15%, and BarnBridge (BOND) price plummeted by 80% within a month of being delisted. These cases demonstrate how delistings often lead to panic selling, reduced liquidity, and long-term price declines, causing significant concerns for investors in affected tokens.
Fusionist (ACE) is a combination of the blockchain-based game Fusionist and the game/social infrastructure layer Endurance. The value proposition of Fusionist and Endurance lies in bringing together Fusionist’s Unity engine and HDRP technology with cutting-edge blockchain technology to deliver a high-quality gaming experience. This article explores what Fusionist is, what ACE coin represents, and how to acquire ACE coin, which will be listed on Binance.
What is Fusionist?Fusionist is a Web3 AAA game developed by an experienced team in the gaming industry. It aims to provide a premium product and an engaging gaming experience to all users by leveraging Unity and HDRP technologies. Its integration with Endurance supports Fusionist’s game/social infrastructure, offering users various gaming and social options.
Endurance, operating on its mainnet since January 2023, is a decentralized game/social blockchain. Its infrastructure layer provides users with diverse gaming and social options and ensures scalability with its multi-layered architecture. Endurance houses the native asset ACE coin, which has various use cases within the ecosystem.
The primary use cases of ACE coin are as follows:
In-Game Spending/Earnings: Used in Fusionist and other games to purchase items, tournament tickets, and rewards.Participation in the Ecosystem: ACE coin can be used to buy products and services within the Endurance ecosystem (social products, domain services, etc.).Staking and Governance: ACE coin holders can stake their coins to secure the network and participate in governance decisions.Transaction Fees: ACE coin serves as the transaction fee for all operations on the Endurance blockchain.The total supply of ACE coin is 147 million as of December 16, 2023.
ACE coin will be securely traded on Binance, the world’s largest cryptocurrency exchange by trading volume. ACE coin will be listed on Binance on December 18, 2023, and can be traded in the pairs ACE/USDT, ACE/FDUSD, and ACE/TRY.
To buy ACE coin, you must first register on Binance (if not already a member). After completing the registration process, fiat currency like USD or cryptocurrency must be transferred to your Binance wallet. Once the transfer is complete, ACE coin can be purchased in any of the three trading pairs mentioned above.
To buy from the ACE/USDT trading pair, first navigate to the interface of this trading pair. On the trading interface, enter the desired amount to purchase in the limit section. After entering the amount, complete the purchase by placing a Buy ACE order.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Two South Korean men have been implicated in a case of price manipulation on the crypto exchange Bithumb. The two men allegedly gained nearly $5 million from manipulating the price of the Fusionist token, ACE.
According to a Jan. 3 report on local news media Digital Asset, the Seoul Southern District Prosecutors’ Office’s Virtual Asset Joint Investigation Team arrested 33-year-old CEO of virtual asset operator M, Lee, alongside a former employee of M, Kang, for alleged market manipulation on Bithumb.
The pair were charged with price manipulation and violating the South Korean Virtual Asset User Protection Act.
Based on the police investigation conducted by Chief Park Geon-wook, the pair manipulated the price of blockchain-based gaming project Fusionist’s native token, ACE. In South Korea, Bithumb is the only crypto exchange known to list ACE for market trading.
This is the first case that the South Korean Financial Services Commission immediately categorized as a top priority, placing it on the “Fast Track” for processing since Oct. 25, 2024, for alleged violations of the Virtual Asset User Protection Act.
According to the press release, Lee and Kang allegedly sold around 1.22 million ACE tokens and made a profit amounting to 7.1 billion won ($4.8 million) by submitting fake buy and sell orders to inflate the ACE price.
On July 22, 2024, the prosecutor’s office noted that Fusionist token’s trading volume increased by nearly 15 times in a single day to about 2.45 million. This kind of suspicious trading activity tipped off authorities to the scheme happening behind the scenes.
Price chart for the Fusionist token’s performance in the past year of 2024 | Source: CoinGecko At the time of writing, ACE has dipped slightly by 0.3% in the past 24 hours, according to CoinGecko. In the past week, the token has gone up by 1.1%. However, over the past year, the Fusionist token has fallen by nearly 75%. ACE has a market cap of around $92 million and a fully diluted valuation of $319 million.
Globally, ACE’s trading volume stands at $7.8 million in the past 24 hours. Its trading volume went down by 15% from the previous day, signaling a decrease in market activity.
ACE was first listed on Bithumb in August 2024 at a starting price of around 3,722 won ($2.53).
Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
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April 3, 2025
In what has become one of the most significant cases in South Korea’s crypto market, the Seoul Southern District Prosecutors’ Office has exposed an elaborate price manipulation scheme involving the Fusionist (ACE) token, which is down 13% in the past 24 hours.
Source: CoinGeckoAccording to a local source, Lee and Kang, who allegedly orchestrated artificial price inflation on the Bithumb exchange, accumulated illicit profits amounting to 7.1 billion won ($4.8 million).
The case, categorized as a top priority under the newly enacted Virtual Asset User Protection Act, was placed on an expedited “Fast Track” for prosecution in October 2024.
The investigation revealed that the duo engaged in sophisticated methods to deceive investors and inflate trading volumes, effectively distorting market realities to their advantage.
On April 3rd, at the third trial hearing at the 14th Criminal Division of the Seoul Southern District Court, prosecutors detailed the methods employed by the accused, shedding light on two primary tactics called “’hit’ order strategy and fake buy orders.”
These manipulative trading practices not only misled investors but also artificially bolstered ACE’s market performance, triggering widespread trading activity based on fraudulent signals.
Price Manipulation Tactics: “Hit” Orders and Fake Buy OrdersOne of the key methods employed by Lee and Kang was the implementation of ‘hit’ orders.
This involved submitting limit buy orders at a price higher than the current market rate while simultaneously placing limit sell orders below market value.
This technique ensured that trades were executed unconditionally, effectively inflating the trading volume.
Prosecutors likened this to a form of “bicycle trading,” where an illusion of heightened market activity is created to lure in unsuspecting investors.
By avoiding direct self-trading, an act punishable under the Virtual Asset User Protection Act, the perpetrators circumvented legal consequences while achieving the same effect, which is manipulating market sentiment and artificially increasing trading activity.
The impact of this tactic was evident on July 22, 2024, when ACE’s trading volume on Bithumb skyrocketed nearly 15-fold in just one day, from an average of 160,000 to approximately 24.05 million.
Notably, at the time of writing, the Fusionist token is down 94.2% in the last year and 33.8% in the previous month.
Source: CoinGeckoAlarmingly, an estimated 88.69% of these transactions were identified as manipulated.
In addition to ‘hit’ orders, the accused employed a strategy involving fake buy orders.
This method involved placing multiple low-price purchase orders at predefined intervals 3%, 5%, 7%, 9%, and 11% below the most recent transaction price.
These orders were then systematically canceled within seconds before they could be executed, creating a misleading impression of strong buy-side interest.
By repeating this cycle over an extended period, the manipulators effectively induced a false sense of demand, enticing real investors into entering the market.
The prosecution’s findings revealed that between July 28, 2024, and August 5, 2024, these false buy orders escalated, with cancellation rates nearing 100%.
More strikingly, 80-90% of all purchase orders on Bithumb during this period were linked to these deceptive tactics.
The Broader Implications for the South Korean Crypto MarketThis case represents the first time the Virtual Asset User Protection Act has been enforced through the “Fast Track” prosecution process.
This case has also coincided with broader regulatory shifts in South Korea’s crypto sector.
The country’s Financial Services Commission (FSC) has recently indicated a potential policy change that could allow foreign investors to access domestic exchanges under stringent anti-money laundering (AML) requirements.
This proposed shift responds to global competitive pressures and a desire to curb market anomalies like this current case.
Looking forward, with the prosecution making a strong case against Lee and Kang, the outcome of this trial could set a precedent for future cryptocurrency fraud cases in the country.
Robinhood has launched crypto transfer services in Europe, enabling customers to move cryptocurrencies in and out of its app. This move highlights the American financial services company’s dedication to expanding its product offerings and strengthening its global presence in the crypto market.
Speculation arose that the retail investing platform is exploring the stablecoin market, but Robinhood has firmly denied this claim.
Robinhood Enables Crypto Transfers in EuropeCustomers in the European Union can now deposit and withdraw over 20 digital currencies, including BTC, ETH, SOL, and USDC, via Robinhood’s platform. They can also self-custody assets instead of storing their holdings with third parties.
With the launch of the service, European customers can receive 1% of the value of tokens deposited on the platform back in the form of the equivalent cryptocurrency they transfer into Robinhood, a limited-time marketing strategy.
This development comes barely a year after Robinhood Crypto forayed into the EU market. The venture allowed customers to buy and sell cryptocurrencies. However, they could not move them away from the platform to another third party or their own self-custodial wallet. The latest development changes that.
Read more: How to Buy and Sell Crypto on Robinhood: A Step-by-Step Guide
Robinhood’s move to bring crypto transfers to Europe acknowledges the region’s potential to become an attractive market for digital currencies. Its general manager and vice president, Johann Kerbrat, cited crypto-friendly regulations adopted in Europe’s 27-member bloc. In his opinion, things could be better once Markets in Crypto-Assets (MiCA) are in full effect.
This regulatory clarity has allowed companies like Circle to obtain an Electronic Money Institution (EMI) license, enabling them to offer dollar- and euro-pegged crypto tokens under the MiCA framework.
Amid this environment, there was speculation that Robinhood was exploring stablecoin launches alongside Revolut, but the retail investing platform has denied these claims. The firm put out the speculation, citing no “immediate plans” to launch its own stablecoin.”
“On our side, we don’t have any imminent plan. It’s always kind of funny in my position to see where people think we’re going to move next,” Kerbrat said in an interview with a news site.
Rumors notwithstanding, Tether’s USDT dominance in the stablecoin market could face significant competition as sector regulation improves in the EU. As BeInCrypto reported in July, Circle’s USDC stablecoin leads regulated stablecoins with a $23 billion volume, effectively challenging reserve-backed stablecoin First Digital USD’s (FDUSD) 14% market share.
USDC’s main market rival in the stablecoin market, Tether’s USDT, is not EMI-licensed. Its CEO, Paolo Ardoino, is still unconvinced by MiCA’s expectation of 60% backing in bank cash.
Also read: What Is Markets in Crypto-Assets (MiCA)? Everything You Need To Know
These developments highlight the potential of the MiCA framework to shift the balance in favor of compliant stablecoins.
The SUI ecosystem continues to capture investor attention this October, setting multiple notable new records.
While the recovery momentum of many altcoins has stalled, SUI has achieved a new all-time high (ATH) this month, reaching $2.16.
SUI Ecosystem Market Cap Exceeds $8 BillionAccording to CoinMarketCap, the SUI ecosystem’s market cap in October reached $8.54 billion. Of that, SUI’s individual market cap is around $5.38 billion, while First Digital USD (FDUSD) accounts for almost $3 billion. The daily trading volume across the ecosystem surpassed $6 billion, with most of it still dominated by SUI and FDUSD.
Read more: A Guide to the 10 Best Sui (SUI) Wallets in 2024
SUI Ecosystem Market Cap and Volume. Source: CoinMarketCap.Other projects within the SUI ecosystem, such as decentralized exchanges (DEXs), meme coins, and lending protocols, hold a smaller share. According to CoinGecko, the market capitalization of meme coins on SUI currently exceeds $296 million, marking a 170% increase from $108 million at the beginning of October.
Typically, investors who buy and hold SUI tend to reinvest in other protocols and meme coins within the ecosystem. This is similar to how the Solana ecosystem surged in popularity last year.
SUI Ranks Among Top 3 Altcoins by Netflow in the Past MonthMore data indicates promising signals for SUI’s continued appeal to investors in the final quarter of the year. Artemis data, which tracks capital flows into and out of various ecosystems, shows that SUI ranks third in altcoin netflow over the past month, behind only Ethereum and Solana.
Netflow by Chain. Source: Artemis.Looking at cross-ecosystem bridge transactions, SUI accounts for over 9% of the capital flow from Ethereum. These figures highlight the growing activity within the SUI network, reflecting the ongoing adoption and demand among users.
SUI Dominance Rises 270%, Reaches New High of 0.27%SUI dominance (SUI.D), which measures SUI’s share of the total market cap, has seen a significant rise. A higher dominance indicates that SUI is becoming a preferred choice among investors.
Read more: Everything You Need to Know About the Sui Blockchain
SUI Dominance. Source: TradingView.In just the past two months, SUI.D has surged 270%, hitting a new high of 0.27%. Although it has now retraced to 0.26%. This comes at a time when most other altcoins are seeing declines in market cap share while Bitcoin dominance remains high at over 56%.
“SUI is moving exactly like SOL before the massive pump,” Investor CryptoGoos predicted.
Through technical analysis, many investors are optimistic that SUI’s price could follow a similar pattern to that of SOL. However, a recent BeInCrypto analysis indicates that SUI may face significant corrections under the pressure of profit-taking from early investors.
This is because the price has increased by nearly 120% in the past 30 days. In such a scenario, investors are bound to book some profit.
Hong Kong-based stablecoin issuer First Digital Trust said Thursday it is expanding its FDUSD token to the Solana network.
First Digital USD (FDUSD), the fourth largest stablecoin by market capitalization issued by Hong Kong-based firm First Digital Trust, is coming to Solana as it seeks new ecosystems after rolling out products on Ethereum and BNB Chain (formerly Binance Smart Chain).
In an Oct. 30 announcement on X, the team behind the stablecoin said the selection was due to Solana’s transactional output, calling it an “ideal solution for real-time payments and settlements.”
The team added that FDUSD’s upcoming integration with Solana is a “part of our broader strategy to build a versatile, resilient stablecoin ecosystem.” However, the stablecoin issuer didn’t explain when exactly it plans to launch FDUSD on Solana.
“With support on Ethereum, BNB Chain, Sui, and soon Solana, FDUSD is more globally accessible and liquid than ever.”
First Digital Trust
FDUSD quickly expands across blockchain networks Unveiled in 2023, FDUSD is issued under Hong Kong’s digital asset rules and backed by U.S. Treasury bills and bank deposits to keep its price anchored to $1. In addition to Ethereum and BNB Chain, FDUSD is also available on Sui Network.
Shortly following its launch, Binance opened trading in Bitcoin (BTC) and Ethereum (ETH) with FDUSD, wooing traders with zero fees. As a result, the stablecoin quickly became the fourth-largest stablecoin behind Tether’s (USDT), Circle’s (USDC) and MakerDAO’s (DAI), amassing more than $2.5 billion market capitalization, as of press time
Key NotesThe FDUSD has grown to a multi-chain stablecoin available of Ethereum, BSC chain, Sui, and now Solana.The Solana network will heavily benefit from enhanced liquidity amid the mainstream adoption of its digital assets and Web3 protocols. First Digital USD (FDUSD), a fast-growing multi-chain stablecoin backed by the US dollar in a ratio of 1:1, has finally launched on Solana network, a top-tier layer one blockchain fueling the mainstream adoption of digital assets and Web3 platforms.
Already, top-tier DeFi protocols on the Solana network have integrated FDUSD to allow their users to seamlessly trade. Some of the top DeFi projects that had already listed FDUSD for trading at the time of this writing include Raydium protocol, Kamino Finance, Meteora, and Phantom Wallet.
According to the First Digital Labs team, the launching of FDUSD on the Solana network was mainly based on several facts. On the top list, the Solana network has grown to a vibrant Web3 ecosystem, with more than $9 billion in total value locked and around $6 billion in stablecoins market cap.
The FDUSD stablecoin will help enrich the Solana protocols with reliable digital US dollars, especially amid heightened crypto volatility. Moreover, the Solana network is home to a fast-growing memecoin ecosystem, catalyzed by the democratization of token creation by pump.fun launchpad.
According to the announcement, FDUSD on the Solana network will be listed on major cryptocurrency exchanges in the near term.
“Soon, FDUSD on Solana will be available for deposits and withdrawals on major centralized exchanges. Users can expect seamless transfers and speedier transactions with lower fees,” the announcement noted.
Market Impact of the FDUSD Launch on Solana Network The launch of FDUSD on the Solana network will significantly add to its rising demand in the Web3 industry. As of this writing, FDUSD had a 24-hour average traded volume of about $6.69 billion and a total market of about $1.8 billion.
The higher daily average trading volume than the market cap suggests a significant demand for the FDUSD Stablecoin in the Web3 space.
Meanwhile, the launch of FDUSD on the Solana network will play a crucial role in the mainstream adoption of SOL and its related DeFi projects. Moreover, SOL coins are used to pay for transaction fees across all its DeFi protocols led by DEXes.
Amid the ongoing mainstream adoption of digital assets and Web3 protocols on the Solana network, the SOL price rallied more than 8 percent in the past 24 hours to trade at about $203 at the time of this writing. The large-cap altcoin, with a fully diluted valuation of about $120 billion and a 24-hour average trading volume of around $4.4 billion, is on the verge of a major bull run after completing a two-month correction.
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.
Let’s talk web3, crypto, Metaverse, NFTs, CeDeFi, meme coins, and Stocks, and focus on multi-chain as the future of blockchain technology. Let us all WIN!
First Digital USD (FDUSD), a multi-blockchain audited stablecoin pegged to the U.S. dollar, enhances its availability on Binance (BNB), the largest crypto exchange by trading volume and user count. Traders are invited to deposit and withdraw FDUSD paying no fees.
Solana's FDUSD listed by Binance with zero-fee promoBinance (BNB), a dominant centralized crypto exchange, shared details of its latest stablecoin listing so far. Solana-based version of First Digital USD (FDUSD), a Hong Kong-regulated USD-pegged stable cryptocurrency, is now available for all Binancians.
Binance (BNB) stressed that the process of SOL-based FDUSD is fully completed: Users can freely deposit and withdraw the stablecoin via the Solana (SOL) blockchain and utilize it in Binance's (BNB) products.
To introduce the novel stablecoin to the Binance (BNB) audience, the platform is running a zero-fee promo campaign for FDUSD. Until April 16, 2025, 11:59 p.m. UTC, all deposit and withdrawal operations are charged with zero platform fees.
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As Binance (BNB) targets regulatory compliance, it recalled that users in EEA are not eligible for the promotion and usage of stablecoins unauthorized under the new MiCA regulatory framework for digital assets.
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As covered by U.Today previously, Binance (BNB) already expanded its stablecoin offering this year. On Jan. 10, spot trading in PHA/USDC, PLN/USDC, STEEM/USDC and USUAL/USDC pairs kicked off.
Tether unveils USDT cross-chain alternative: DetailsDespite increasing regulatory hostility, the competition in the stablecoin segment has gained steam in recent months. Tether, the issuer of the largest-ever stablecoin USDT, announced this week its new development called USDT0, a cross-chain stablecoin issued on Kraken's L2 Ink.
Introducing USDT0.@Tether_to has completely reshaped global economies and in just over a decade has become the single largest stable asset in the world at almost $140B. It fulfilled crypto’s original promise of banking the unbanked and providing critical financial… pic.twitter.com/36oZJd6F3Q
— USDT0 (@USDT0_to) January 16, 2025 USDT0 is set to merge the benefits of LayerZero's Omnichain Fungible Token standard and OP Stack, Optimism's development framework. Simply put, USDT0 streamlines operations with crypto liquidity on multiple blockchains.
Also, Ripple, a U.S. fintech giant, launched its hotly-anticipated stablecoin Ripple USD (RLUSD) on XRP Ledger and Ethereum (ETH) Dec. 17, 2024.
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As of press time, RLUSD capitalization exceeds $74 million in equivalent.
Bank of America (BofA), the second largest bank in the United States, has hinted at plans to roll out its USD-backed stablecoin.
Brian Moynihan, the CEO of BofA, made the disclosure in an interview with David Rubenstein at the Economic Club of Washington D.C. During the interview, Moynihan emphasized that the stablecoin business is imminent and poised to go mainstream soon.
He referred to stablecoins as digital assets backed by fiat currencies, like the U.S. dollar. Notably, Moynihan suggested that these digital assets can function like a money market fund or bank account.
With Moynihan expecting stablecoins to go mainstream, he revealed that the second-largest U.S. bank may introduce a stablecoin, referred to as the BofA token, tied to U.S. dollar deposit accounts. However, he noted that the bank would only launch the digital asset if the U.S. government legalized stablecoins.
Ongoing Efforts to Regulate USD Stablecoins It bears mentioning that the United States government is pushing to pass stablecoin legislation. Last year, Rep. French Hill (R-AR) disclosed that the United States Congress will prioritize crypto legislation, including those relating to stablecoins, in 2025.
Due to its aggressive stance toward crypto, the previous administration sabotaged efforts to pass stablecoin regulation. However, crypto enthusiasts are optimistic that the U.S. will soon welcome favorable legislation for stablecoins.
This speculation is driven by Donald Trump’s executive order for the digital asset markets. The order mandates a presidential committee to establish crypto regulation at the federal level.
Specifically, the order pushes for the sovereignty of the U.S. dollars by promoting the growth and development of dollar-backed stablecoins globally.
BofA Faces Stiff Competition From Established Stablecoin Issuers Should the government establish the necessary regulation, BofA may launch its own dollar-backed stablecoin. However, the bank faces stern competition from established brands like Tether (USDT) and USD Coin (USDC).
Currently, stablecoins USDT and USDC have valuations of $142.02 billion and $56.25 billion, respectively. They account for 86.55% of the $229.06 billion global stablecoin market valuation.
Other dominant USD-backed stablecoins include Ethena USDe (USDe), Dai (DAI), First Digital USD (FDUSD), and PayPal USD (PYUSD). These stablecoins are worth $5.87 billion, $5.36 billion, $2.13 billion, and $703.38 million, respectively.
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.
Binance moves to restrict non-MiCA compliant stablecoins for EEA users, reveals delisting timeline and conversion options ahead of March deadline.
Cryptocurrency exchange Binance will remove non-MiCA compliant stablecoins like Tether (USDT), First Digital USD (FDUSD), and DAI (DAI) from spot trading in the European Economic Area starting March 31, urging users to switch to MiCA-compliant ones like Circle’s USD Coin (USDC), Eurite (EURI) or fiat like EUR.
In a March 3 press release, Binance said that for now, non-MiCA compliant stablecoins can still be traded in spot pairs until the deadline. However, after March 31, these pairs will be fully delisted.
“Custody of non-MiCA Compliant Stablecoins will continue and you will be able to withdraw or deposit non-MiCA Compliant Stablecoins at any time.”
Binance
The update will also impact margin trading. From March 27, non-compliant margin trading pairs will be removed, and Binance will automatically convert any remaining assets to USDC. Binance urged users to convert their margin assets before the deadline to avoid liquidation risks.
To help users switch to MiCA-compliant stablecoins, Binance will offer zero-fee trading on some pairs and rewards for trading USDC or EURI. The exchange also recommends updating Binance Earn and Loan holdings to compliant stablecoins.
The update is part of Binance’s efforts to comply with Europe’s MiCA framework, which aims to establish clear regulatory guidelines for cryptocurrency markets. In July 2024, analysts at blockchain research firm Kaiko suggested that Europe’s Markets in Crypto-Assets Regulation prompted a rush among issuers to comply, benefiting Circle at the expense of its rivals.
Tether chief executive Paolo Ardoino criticized MiCA, arguing that its requirement for stablecoin issuers to hold at least 60% of reserves in E.U. bank accounts poses financial risks, as deposits exceeding €100,000 are not insured.
A stablecoin called First Digital USD (FDUSD) lost its dollar peg on Wednesday after Tron founder Justin Sun claimed that its issuer, First Digital Trust, is effectively insolvent.
The Hong Kong-based firm is currently “unable to fulfill client fund redemptions," Sun warned in a post on X, formerly known as Twitter, urging “regulators and law enforcement to take swift action to address these issues and prevent further major losses.”
First Digital Trust denied the allegation, saying on X that its stablecoin worth $2.5 billion is backed one-to-one with U.S. Treasuries. The firm described Sun’s rhetoric as part of a “smear campaign,” adding that it will pursue legal action to protect its rights and reputation.
The recent allegations by Justin Sun against First Digital Trust are completely false.
This dispute is with TUSD and not with $FDUSD. First Digital is completely solvent.
Every dollar backing $FDUSD is completely, secure, safe and accounted for with US backed T-Bills. The…
— First Digital (@FirstDigitalHQ) April 2, 2025
FDUSD—which is prominently used by top crypto exchange Binance after it dropped support for BUSD in 2023—plunged as low as $0.95 and was recently changing hands around $0.96, according to the crypto data provider CoinGecko. It had recovered to $0.97 before Sun doubled down.
Sun said on X that First Digital Trust’s insolvency is a “factual statement,” urging the company’s business partners to sever ties “as soon as possible to protect your assets.”
The crypto billionaire recently helped a firm called Techteryx avoid insolvency, CoinDesk reported on Wednesday, citing Hong Kong court documents.
The company, which acquired the stablecoin TrueUSD in 2020, reportedly needed a $456 million bailout from Sun after its reserves were allegedly misappropriated by First Digital Trust.
First Digital Trust (FDT) is, in fact, already insolvent. This is a factual statement, devoid of any emotion. If you have any ties with them, please sever them as soon as possible to protect your assets. As for what consequences its founder, Vincent Chok, will face for his…
— H.E. Justin Sun 🍌 (@justinsuntron) April 2, 2025
First Digital Trust manages TrueUSD’s reserves, and the company diverted cash to a Dubai-based entity instead of an investment vehicle registered in the Cayman Islands, the publication reported, citing court documents prepared by U.S. law firm Cahill Gordon & Reindel.
When Techteryx tried to redeem funds between mid-2022 and early 2023, the company received “little or no funds back” from the Cayman Islands-based fund, and it allegedly defaulted on payments and failed to fulfill redemption requests, according to the court documents.
First Digital Trust has not had the chance to defend itself in court, the firm noted on X.
Despite its small market cap, the disruption centered around FDUSD is “a big deal,“ Coinbase's Head of Product, Conor Grogan, said on X Wednesday. Historically, the stablecoin has been popular among traders on Binance, with the exchange holding 94% of FDUSD in circulation.
Edited by Andrew Hayward
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A prominent stablecoin depegged from the US dollar Wednesday morning after it was alleged that its Hong Kong-based issuer was bankrupt
In a new thread on the social media platform X, crypto billionaire and Tron (TRX) founder Justin Sun urged his followers to “take immediate action” to protect any assets they held in FDUSD, a stablecoin managed by First Digital Trust (FDT).
[adinserter block="1"]
Sun also called for regulators to step in and take action to prevent further losses and save Hong Kong’s reputation as a financial power.
“First Digital Trust (FDT) is effectively insolvent and unable to fulfill client fund redemptions. I strongly recommend that users take immediate action to secure their assets.
There are significant loopholes in both the trust licensing process in Hong Kong and the internal risk management of its financial system.
I urge regulators and law enforcement to take swift action to address these issues and prevent further major losses. Hong Kong’s reputation as a global financial center is at stake, and similar financial fraud incidents must never happen again.”
FDUSD dipped to about $0.949 earlier in the day but has since recovered and is trading for $0.982 at time of writing, a decrease of 1.27% during the last 24 hours.
In response, the FDUSD has denied Sun’s claims and will pursue legal action to defend its reputation.
“The recent allegations by Justin Sun against First Digital Trust are completely false.
This dispute is with TUSD and not with FDUSD. First Digital is completely solvent.
Every dollar backing FDUSD is completely, secure, safe and accounted for with US-backed T-Bills. The exact ISIN numbers of all of the reserves of FDUSD are set out in our attestation report and clearly accounted for.
This is a typical Justin Sun smear campaign to try to attack a competitor to his business. As we told the reporter at CoinDesk, we have not yet had the opportunity to defend ourselves and instead of letting the TUSD matter be dealt with in court, Justin has instead resorted to a coordinated social media effort to try to damage FDUSD as a business competitor.
FDT will pursue legal action to protect its rights and reputation.”
Binance has reaffirmed the accuracy of FDUSD’s reserve attestation for February, following concerns sparked by a brief de-pegging event.
In an Apr. 3 update on the company’s blog, Binance stated it had reviewed First Digital USD’s (FDUSD) reserve data twice, once after the February attestation report was released and again recently to ensure accuracy.
As of Mar. 1, FDUSD had $2.05 billion in reserves, according to the audit, which was carried out by Prescient Assurance. These reserves, which are kept in fixed deposits and U.S. Treasuries, are greater than the amount of stablecoin in circulation and guarantee a 1:1 redemption with USD.
The update comes after Tron (TRX) founder Justin Sun accused the stablecoin’s issuer, First Digital Trust, of being insolvent, causing FDUSD to momentarily lose its peg and drop by 5%. Sun called for regulatory action, criticized Hong Kong’s financial system, and advised investors to withdraw their funds.
His claims caused panic selling, which led to FDUSD’s price dropping as low as $0.87 before recovering. In response, FDT refuted the claims, claiming that Sun’s remarks were deceptive and that FDUSD is fully backed.
The company insisted the issue was unrelated to FDUSD and instead linked to a dispute involving TrueUSD (TUSD), another stablecoin it manages. FDT also accused Sun of launching a smear campaign against its business and has threatened to take legal action against him.
Given that Binance owns roughly 94% of the supply of FDUSD, the situation has sparked worries about the exchange’s exposure. Some industry analysts have pointed out the risks of relying on a single stablecoin for key trading pairs.
As of the time of press, FDUSD seems to have stabilized, trading at $0.99 despite market volatility. Binance intends to carry out another review after the next attestation report is published in two weeks and has reiterated its commitment to keeping an eye on the FDUSD’s stability.
The US House Financial Services Committee voted 32-17 to pass the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act of 2025, aimed at stablecoin regulation.
This legislative milestone comes amid growing activity in the stablecoin market. Competition is heating up as major traditional financial institutions prepare to enter the space.
STABLE Act Passes Committee Vote Chairman French Hill and Representative Bryan Steil spearheaded the legislation (H.R. 2392). It seeks to establish a robust framework for stablecoin issuance, mandating 1:1 reserve backing, monthly audits, and AML requirements.
“This legislation is a foundational step toward securing the future of financial payments in the United States and solidifying the dollar’s continued dominance as a world reserve currency,” Representative Steil remarked.
The bill’s passage saw bipartisan support, with six Democrats voting in favor. Notably, this comes shortly after the US Senate Committee on Banking, Housing, and Urban Affairs greenlit the GENIUS Act. The bill passed in a bipartisan 18-6 vote.
“The bills await debate time on the floor and a vote in their respective chambers,” Journalist and Host of Crypto In America, Eleanor Terrett, noted.
According to Terrett, efforts are underway to align the two bills closely over the next few weeks. The aim is to address differences between the bills. Aligning them will make it easier to proceed without creating additional complications.
“If they can get them to be in relatively the same place on their own, it will avoid having to set up a so-called conference committee which is formed so members from both chambers can negotiate to create a final version of the bill everyone agrees on,” she added.
Stablecoin Competition Heats Up, but Are There Signs of a Purge?The drive for legislation occurs alongside rising activity in the stablecoin market. Global players are joining the fray.
For instance, in Japan, Sumitomo Mitsui Banking Corporation (SMBC) and major entities have signed a Memorandum of Understanding (MoU). The MoU initiates joint discussions on the potential use of stablecoins for future commercialization.
“This Agreement will see SMBC, Fireblocks, Ava Labs, and TIS collaborate to develop a framework for stablecoin issuance and circulation, including exploring key technical, regulatory, and market infrastructure requirements both in Japan and further afield. This Joint Discussion will not only focus on pilot projects but will aim to concretely define use cases for ongoing business applications,” the notice read.
In addition, Bank of America’s CEO previously revealed plans to launch a stablecoin once proper regulation is in place. Notably, BeInCrypto reported last month that the Office of the Comptroller of the Currency (OCC) had granted national banks and federal savings associations permission to provide crypto custody and certain stablecoin services.
That’s not all. The state of Wyoming is set to launch its own stablecoin, WYST, in July. Fidelity has also announced similar plans. Moreover, President Trump-backed World Liberty Financial officially launched its USD1 stablecoin in late March. This highlights continued interest in stablecoin adoption across both private and public sectors.
Meanwhile, Ripple announced the integration of its Ripple USD (RLUSD) into Ripple Payments. Changpeng Zhao (CZ), former CEO of Binance, reacted to the development on X.
“Stablecoin war, I mean healthy competition, just getting started,” CZ said.
As competition intensifies, the stablecoin market is also facing growing pains. Despite new entrants gaining traction, some players face heightened scrutiny.
Justin Sun, founder of Tron (TRX), recently accused First Digital Trust of insolvency. Following Sun’s allegations, First Digital USD (FDUSD) temporarily depegged.
The market’s future may hinge on the survival of only the most compliant and resilient stablecoins. This leads to a potential “purge” where weaker players fail to meet the increasing regulatory and market demands.
The team behind First Digital USD (CRYPTO: FDUSD) addressed concerns regarding financial stability Wednesday after the dollar-backed stablecoin briefly depegged following allegations of insolvency by cryptocurrency entrepreneur Justin Sun.
What Happened: First Digital confirmed that it has processed the initial redemptions following the FUD. It also assured that FDUSD is fully backed 1:1 and that their redemption channels are functioning smoothly.
The controversy erupted when Tron (CRYPTO: TRX) founder Justin Sun raised concerns about the company’s solvency and its ability to honor client redemptions.
“I strongly recommend that users take immediate action to secure their assets. There are significant loopholes in both the trust licensing process in Hong Kong and the internal risk management of its financial system,” Sun said.
First Digital strongly rejected the accusation, deeming it a “typical Justin Sun smear campaign” against business competitors. It said it’d pursue legal action to protect its reputation.
See Also: Bitcoin Reeling From Trump’s ‘Liberation Day’ Shock But These Gold-Backed Coins Are Killing It This Year
Following the allegations, FDUSD, currently the fifth-largest stablecoin by market capitalization, fell to $0.87, 13% below the $1 value it is supposed to trade at all times. It regained some of its value as of this writing.
Why It Matters: Launched in 2023, FDUSD is a 1:1 dollar-backed stablecoin issued by Hong Kong-based First Digital Labs, a subsidiary of the First Digital Group.
To ensure their value remains consistent, stablecoins are backed by reserves of the corresponding fiat currency, in this case, the dollar, held in regulated financial institutions. The 1:1 backing means customers can theoretically redeem one unit of the stablecoin for one unit of the underlying fiat currency at any time.
Stablecoin depeggings have been rare. USD Coin (CRYPTO: USDC) lost its dollar peg for a few days in March 2023 after billions in its reserves were stuck with the collapsed Silicon Valley bank.
Price Action: At the time of writing, FDUSD traded at $0.9953, down 0.28% in the last 24 hours, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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First Digital Labs has launched FDUSD on Arbitrum, Ethereum’s largest Layer-2 network, marking the stablecoin’s latest expansion and further strengthening its cross-chain presence.
The launch is designed to offer users access to low-cost, high-speed transactions while positioning First Digital USD (FDUSD) as a core stablecoin for decentralized finance, spanning five blockchains and multiple regional markets..
Already deployed on Ethereum, BNB Chain, Sui, and Solana, FDUSD’s expansion to Arbitrum represents a strategic step toward addressing Ethereum’s congestion and throughput challenges. This comes at a time of rising institutional demand for stablecoins that are secure, compliant, and integrated across multiple blockchains.
“Stablecoins will play an increasingly central role in driving global capital market liquidity over the next five years,” said Vincent Chok, CEO of First Digital. “FDUSD’s native integration with Arbitrum eliminates bridging complexities, boosts trade efficiency and strengthens our leadership in the DeFi ecosystem.”
Ryan De Souza, APAC Partnerships Lead at Offchain Labs, which supports Arbitrum, added that FDUSD’s native deployment “is not only enhancing scalability and reducing costs but also making digital finance more accessible, secure, and aligned with the evolving needs of both institutions and everyday users.”
Native integration brings security, scale, and seamless access Unlike bridged tokens that often introduce security vulnerabilities, FDUSD’s native deployment on Arbitrum provides a safer and more seamless experience. It also enables greater liquidity within Arbitrum’s DeFi ecosystem and supports everyday applications like remittances and cross-border payments through near-instant settlements.
Beginning on Friday, users can access FDUSD liquidity through Camelot, one of Arbitrum’s leading DeFi platforms. Institutional clients can also mint FDUSD directly on-chain by opening an account with First Digital, streamlining access to digital dollar liquidity across use cases such as trading, lending, and settlement.
Sleepless AI (AI) is an innovative Web3 gaming platform that leverages the power of Artificial Intelligence Generated Content (AIGC) and Large Language Models (LLM) to provide unique and engaging gaming experiences. With games like HIM and HER, it aims to offer players personalized and emotionally rich experiences similar to real human interactions with virtual characters. By combining gaming and artificial intelligence, Sleepless AI brings a new level of realism and emotional depth to the gaming world. In this article, you can find answers to two frequently asked questions: What is Sleepless AI (AI), and how to buy Sleepless AI (AI) with TRY.
What is Sleepless AI (AI)?Sleepless AI is an innovative Web3 gaming platform that leverages the power of Artificial Intelligence Generated Content (AIGC) and Large Language Models (LLM) to provide unique and engaging gaming experiences. Sleepless AI integrates advanced artificial intelligence technologies to create virtual characters that interact with players similarly to real human interactions, thus enhancing the overall gaming experience.
The primary goal of Sleepless AI is to establish itself as a leading destination for mental support and immersive gaming experiences through the combination of gaming and artificial intelligence. This platform aims to redefine the gaming environment by leveraging the features of Web3 technology and artificial intelligence to offer players more personalized and emotionally engaging experiences.
One of Sleepless AI’s standout products is HIM, a mobile game featuring over ten boyfriend characters transformed into NFTs, specifically Soul Bounded Tokens (SBTs). Each boyfriend character has unique attributes, providing a wide range of experiences for players. In HIM, players can interact with their virtual boyfriends, chat, and enhance their experiences by upgrading their outfits, accessories, and participating in various activities. This personalization and interaction make HIM a captivating and dynamic game.
Similarly, Sleepless AI offers HER, a game that serves as the female counterpart to HIM. Currently available only on the Sleepless AI website, HER allows players to interact with virtual female characters who exhibit realistic emotions such as anger, jealousy, and joy. This game aims to provide players with a highly engaging and emotionally rich experience by simulating real relationship dynamics.
Thanks to its groundbreaking use of AIGC and LLM, Sleepless AI brings a new level of realism and emotional depth to virtual interactions. Players no longer interact with pre-programmed responses but engage in meaningful and evolving conversations with virtual characters that react and respond like real individuals. This innovation offers players a more immersive and emotionally satisfying gaming experience, setting Sleepless AI apart in the gaming industry.
How to Buy Sleepless AI (AI) with TRY?Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy Sleepless AI (AI). On Binance TR, where you can quickly create an account, you can buy and sell over 100 cryptocurrencies, including AI. To buy Sleepless AI (AI) with TRY on Binance TR, you can follow the steps below.
How to Open an Account on Binance TR?Opening an account on Binance TR is quite easy. For this, you need to go to trbinance.com and continue from the “Create Account” step. In the first step of creating an account, you will be asked to enter basic information such as email address, phone number, name-surname, date of birth, nationality, and T.C. identification number.
After entering the requested information completely and accurately, an email/SMS verification will be done to confirm and verify the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?Identity verification on Binance TR is one of the security procedures that must be carried out before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can complete the verification process either from your phone or through the official Binance TR website. Note that you will need your mobile phone for identity verification from the website.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click on “Verify.” After this step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, you can click on the “Copy URL” option to have the identity verification address sent to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, first, tap on the “Identity” option to continue.
Then a screen like the one below will appear. To continue with the verification process, first, select the document type that suits you.
After selecting the document type, you can continue by tapping on the “Upload Front Side” option. After taking a photo of the front side of the document according to the document type you selected, tap on the “Upload Back Side” option and take a photo of the back side of the document and upload it. When taking photos of the front and back sides of your ID card or driver’s license, make sure the images are clear and the information in the photos is easily readable.
Then you can continue by tapping on the “Selfie” option. At this point, your phone’s front camera will open, and you will need to scan your face. After the camera opens, make sure your face fills the camera area as much as possible.
After completing all these steps accurately and completely, your identity verification process will be completed in a short time.
How to Deposit TL on Binance TR?You can easily deposit TL into your Binance TR account from all banks. You can deposit TL 24/7 and make uninterrupted transactions from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. For other banks, you can deposit up to 50,000 TL 24/7 with FAST. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, first, go to trbinance.com and hover over the “Wallet” option at the top left of the homepage, and click on the “Deposit” option from the drop-down menu.
Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST to that bank. All you need to do now is to use the information shown on the page of your preferred bank to transfer the amount you want to deposit into your Binance TR account via transfer, EFT, or FAST.
After your bank completes the transfer process, the funds you sent will automatically be reflected in your Binance TR account wallet.
How to Buy AI Coin with TL on Binance TR?After the deposit process, you can proceed to the AI coin purchase step with TL by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website.
After clicking on this option, the page below will open. You can go to the AI purchase page with TL by typing “AI” in the search section on the right side of this page and clicking on the AI/TRY option from the results.
Now the AI trading page below will open. On this page, in the area marked with a red box, you need to enter the price at which you want to buy AI in the first box and the number of AI you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy AI” button.
What is Binance TR?Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR offers both fiat-to-crypto and crypto-to-crypto trading services by leveraging Binance’s technology, security measures, and liquidity provided through Binance Cloud infrastructure. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) through direct banking channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users gain access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls supported by Binance’s core functions through Binance TR.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Sleepless AI is a pioneering game studio that masterfully integrates artificial intelligence and blockchain technology. In this article, you will find answers to questions like what Sleepless AI is, what AI Coin, Sleepless AI’s native asset, entails, and how to buy AI Coin, which was recently listed on the cryptocurrency exchange Binance.
Sleepless AI stands out as a trailblazing game studio that skillfully merges artificial intelligence with blockchain technology. This innovative approach allows them to offer a truly unique and immersive emotional gaming experience, designed specifically for a wide range of players. HIM and HER mark the studio’s flagship release, a groundbreaking step in the gaming arena. AI intricately weaves into the interactions of a virtual boyfriend/girlfriend with the player, featuring subtle dialogue, dynamic personality shaping, and engaging interaction. This revolutionary method aims to offer players an experience that closely mirrors true emotional companionship.
At the heart of Sleepless AI lies the focus on individuals seeking courage, friendship, and love during moments of solitude. While real-life relationships are meaningful, they often come with their own limitations and frustrations. Addressing this, Sleepless AI creates an AI virtual companion that not only understands its users’ nuances but also offers unwavering support. The project aims to deliver a liberating, joyful, and highly personalized love experience, crafted uniquely for each user.
The project features several key points, including:
AI-Powered Authentic Emotional Communication: Sleepless AI is committed to offering authentic emotional communication through AI dialogue, AI voice, and other experiences simulating real human interactions.Customized Experience: Users can personalize their experience by selecting a preferred partner with specific qualities, such as extraordinary politeness or incredible cuteness.Gamified Entertainment: Users can participate in a gamified experience by dressing up their virtual partner, changing their outfits, feeding them, engaging in PvP battles, and earning rewards through card draws and mystery boxes.High User Engagement: The game integrates seamlessly into users’ daily lives, similar to checking the weather. The daily companionship features contribute to high user engagement, making the game a significant part of their routine.AI Coin ReviewAI Coin is the native asset of Sleepless AI, with a total supply capped at 1 billion. As of January 4, 2023, the circulating supply stands at 130 million.
AI Coin holders can receive discounts on in-game tokens and exchange them for in-game purchases such as outfits, accessories, and upgrade cards. Moreover, AI Coin holders can vote on game management decisions, such as prioritizing in-game item upgrades (e.g., upgrading accessories from SR to SSR) or deciding on future accessories/new boyfriend types. Coin holders can accrue transaction fee revenue based on their governance weight. AI Coin is also used for voting in player competitions, where winners receive additional rewards.
How to Buy AI Coin?AI Coin can be securely bought and sold on the world’s largest cryptocurrency exchange, Binance, which generates significant trading volume. Listed on Binance on January 4, 2024, AI Coin is available for trading in pairs such as AI/BTC, AI/USDT, AI/BNB, AI/FDUSD, AI/TUSD, and AI/TRY.
To buy AI Coin, users must first sign up for Binance (if not already registered). After completing the membership process, users need to transfer cryptocurrency or fiat currency, such as Turkish lira, to their Binance wallet. Once the transfer is completed, AI Coin can be purchased in any of the six trading pairs mentioned above.
To purchase from the AI/USDT trading pair, users should navigate to the trading interface for that pair. In the limit section of the interface, enter the amount of AI Coin to be bought in the designated field. Once the amount is entered, the transaction can be completed by placing a Buy AI order.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Binance founder and former CEO Changpeng Zhao (CZ) is set for imminent release, confirmed by the US Federal Bureau of Prisons (BOP).
Zhao’s return could influence the markets due to his major role in the crypto industry.
Altcoins to Watch as CZ Faces Imminent ReleaseAs BeInCrypto reported, Changpeng Zhao is expected to be released on September 29, leaving traders with 12 days to adjust their positions. With crypto markets facing uncertainty, some traders may look for opportunities surrounding the event. Those watching altcoins may pay attention to five tokens that could react to CZ’s release.
Binance Coin (BNB)Zhao’s release positions Binance Coin (BNB) for a potential rally. As Binance’s native token, BNB ties directly to the platform’s success, and key events involving Binance leadership, especially CZ, can significantly impact its price.
For instance, when CZ announced his compliance with the US Department of Justice in November and appointed Richard Teng as the CEO, BNB’s price dropped by 10% to $244 within an hour. Similarly, when Zhao was sentenced to four months in prison in April, BNB rebounded from $556.20 to $570.60.
Read more: Binance Review 2024: Is It the Right Crypto Exchange for You?
With CZ’s upcoming release, BeInCrypto analysts are speculating that BNB could reclaim the $600 mark. As of now, BNB is trading at $541.62.
Ethena (ENA)Ethena (ENA) is a synthetic dollar protocol offering a crypto-native alternative to traditional banking through its Internet Bond. In March, ENA gained prominence as part of Binance’s coin mining program, allowing users to farm ENA by staking BNB and the stablecoin FDUSD.
As a key participant in Binance’s coin mining initiative, ENA has continued to build credibility and exposure among users looking for alternative investments and yield-generating assets. Given its integration within Binance’s ecosystem, ENA could see volatility as attention builds around CZ’s release.
At the time of writing, ENA is trading at $0.2267, up over 6% since Wednesday’s session opened.
Renzo (REZ)Renzo Protocol (REZ) token’s selection comes as Binance Labs, the venture capital and incubation arm of Binance, invested in the Renzo Protocol in February.
“Renzo’s technology addresses the complexities of Liquid Restaking, enabling more users to participate in Liquid Restaking,” Binance co-founder and head of Binance Labs Yi He said at the time.
The protocol abstracts all staking complexity from the end-user, enabling easy collaboration with EigenLayer node operators and Actively Validated Services (AVSs). Similarly, its liquid restaking token, ezETH, allows users to have exposure to restaking while maintaining liquidity.
REZ Price Performance. Source: BeInCryptoWith Binance Labs’ backing, Renzo Protocol, REZ is well positioned to react to CZ’s release later this month. At the time of writing, Renzo is trading for $0.0360, up by almost 8% since the Wednesday session opened.
Arkham (ARKM)Binance is also an investor in Arkham (ARKM), an “intel-to-earn” token aimed at improving blockchain transparency. In a blog post from November, Binance stated that its investment in Arkham aims to promote large-scale “on-chain insights” across the blockchain ecosystem.
Although the exact amount Binance Labs invested in Arkham remains undisclosed, the news of their backing pushed the ARKM token up by 30%, reaching a market capitalization peak of $100 million on November 15. As of this writing, BeInCrypto data shows that ARKM is trading at $1.01.
Sleepless AI (AI)Sleepless AI (AI) is a Web3 and AI companion gaming platform that leverages both blockchain and AI technology to bring innovation to the gaming industry. Similar to Ethena (ENA), users can farm the AI token by staking BNB, FDUSD, and TUSD.
Sleepless AI’s inclusion in Binance’s coin mining program makes it a token worth monitoring. Over the past 24 hours, its price has surged by more than 8%, trading at $0.3997 as of this writing, according to BeInCrypto data.
Read more: Who Is Changpeng Zhao? A Deep Dive Into the Ex-CEO of Binance
Overall, the potential impact of Changpeng Zhao’s release from prison on Binance-related tokens offers investment opportunities. It highlights the interconnected nature of the cryptocurrency market, with the potential for notable price swings in tokens linked to Binance’s ecosystem.
In this article, we will examine Sleepless AI, a groundbreaking project that stands out as a pioneering game studio meticulously combining artificial intelligence and Blockchain technology. Let’s delve into our discussion, which also answers various questions such as what Sleepless AI is and how to buy AI coins, recently listed on the cryptocurrency exchange Binance.
What is Sleepless AI?Sleepless AI emerges as a pioneering game studio that successfully integrates artificial intelligence and Blockchain technologies. The studio’s innovative approach offers players a uniquely tailored and emotionally immersive gaming experience. HIM and HER are flagship releases of this approach, intricately weaving interactions with a virtual male or female companion through artificial intelligence, featuring nuanced dialogues, dynamic personality shaping, and engaging interactions. This innovation aims to reflect genuine emotional companionship to its users.
The focus of Sleepless AI lies on individuals seeking courage, companionship, and love during moments of solitude. Addressing the limitations and frustrations of real-life relationships, the studio creates AI virtual companions who not only understand users’ nuances but also provide unwavering support. The project aims to deliver a liberating, joyful, and highly personal romantic experience tailored for each user.
Key highlights of the project include AI-powered authentic emotional communication, customizable experiences, gamified entertainment, and high user engagement. While promising genuine emotional interactions, Sleepless AI allows users to select virtual partners matching their preferences through customizable experiences. Gamified entertainment ensures high user engagement as users dress, nurture, and participate in various activities with their virtual partners. Integrated into daily life, the game offers users an enjoyable routine.
Where to Buy AI Coins?AI coins can be securely traded on Binance, the world’s largest cryptocurrency exchange by trading volume. Listed on January 4, 2024, AI coins are available for trading in the AI/BTC, AI/USDT, AI/BNB, AI/FDUSD, AI/TUSD, and AI/TRY trading pairs.
To purchase AI coins, users must first register on Binance (if not already registered). After completing the registration process, users need to transfer cryptocurrency or fiat money such as USD to their Binance wallet. Once the transfer is complete, AI coins can be purchased from any of the six trading pairs mentioned above.
To purchase via the AI/USDT trading pair, users should first navigate to the interface of this trading pair. From the limit section of the interface, the desired purchase amount is entered in the specified field. After entering the amount, the transaction is completed with the “Buy AI” order.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
The ever-evolving crypto world is moving toward massive token unlocks as per tokenomics. As per the data from Phoenix Group, the approaching token unlocks take into account, Sleepless AI, Ethena, And Galxe in the prominent positions. The crypto analytics firm took to social media to disclose the list of these impending token unlocks.
Sleepless AI Dominates Top Impending Token Unlocks with 1.72% of Supply to Be Released In Phoenix Group’s list of top token unlocks, Sleepless AI ($AI) takes the leading position for its occurrence before the rest. The crypto project is reportedly going to witness 1.72% of its token supply in the latest unlock, denoting 17.25M $AI ($5.47M). The 4th of February is the date scheduled for this token unlock. The 2nd major token unlock is Ethena ($ENA) with 7.93M $ENA ($4.99M) tokens to be unlocked on 5th of February. This accounts for a 0.25% of the project’s cumulative token supply.
Galxe ($GAL) is the top 3rd project in the case of prominent approaching token unlocks. Hence, a 2.59% of the supply thereof will be unlocked on the 5th of this month, accounting for $9.31M (5.18 $GAL). The next project is Kaspa ($KAS) to witness 0.67% of its supply in the token unlock to occur on February 5. This takes into account 172.01M $KAS tokens (nearly $17.10M). Subsequently, Jito ($JTO) is going to see a token unlock of 1.13% supply on the 7th of February. Thus, cumulative 11.31M new $JTO tokens will be available, accounting for $32.89M.
The 6th name on the list is Neon ($NEON), with 53.91M $NEON tokens ($14.30M) to be released on February 7. This amount reportedly equals 5.50% of the cumulative token supply of the project. In addition to this, the 7th rank in the list is obtained by Xterio ($XTER) as the project will release up to 5.50% of its total token supply. Thus, on the 8th of this month, 55.00M $XTER tokens will newly enter the market. The respective figure is equal to a great value of approximately $31.21M.
Xai Bottoms List with 2.32% of Supply to Be Released on February 9 Phoenix Group’s list of top impending token unlocks adds Movement ($MOVE) in the 8th place. The project has reportedly scheduled a token unlock of up to 50.00M $MOVE, equaling a staggering $31.21M for the 9th of February. This value represents 0.50% of Movement’s overall token supply. The last project in the list is Xai ($XAI) which will release 2.32% of its token supply on February 9. This comprises 355.89M $XAI tokens (nearly $3.78M).
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Binance Leverage and Binance Borrow will delist AEUR and AI.
PANews reported on May 19 that, according to an official announcement, Binance Leverage and Binance Borrow will cease leverage trading and delist Anchored EUR (AEUR) and Sleepless AI (AI) on May 22, 2026 at 14:00 (UTC+8).
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US Three Major Indexes Mixed, HOOD Down Over 6.11%
COQ and SNEK embarked on significant rallies in the final days of February 2024. Both meme coins have broken multiple resistances to achieve new milestones. This is the first time COQ and SNEK communities will be experiencing a bull cycle. Coq Inu (COQ), a meme coin based on the Avalanche blockchain, has embarked on a significant rally since the final days of February 2024. The novel cryptocurrency bounced off support around $0.0000014311 on February 24, initiating a rally and achieving new heights.
According to data from TradingView, COQ has broken multiple resistance levels in the current rally. It has also achieved new milestones, gaining the crypto community’s attention as one of the meme coins with an early breakout.
COQ/USD Daily Chart on TradingView Notably, the Avalanche-based meme coin climbed above resistance levels at $0.0000021885, $0.0000025520, $0.0000032336, and $0.0000039910. The current rally reflects the classic behavior of a meme coin rally during a crypto market bull cycle.
With the current rally, COQ has gained 364% in less than three weeks at the time of writing. COQ represents one of the early starters in the meme coin category, ahead of an anticipated altcoin season.
Cardano’s Snek (SNEK) has projected a similar trajectory with COQ. It kicked off its rally during the same period, around the end of February, and has continued upwards. SNEK bounced off significant support around $0.0008963, breaking above resistance levels at $0.0012314, $0.0015529, $0.0017992, and $0.0020454.
SNEK/USD Daily Chart on TradingView The novel meme coin traded for $0.0022227 at the time of writing, gaining 154% of its original price since the rally began, per TradingView. Historical data suggests SNEK’s next target to be $0.0028498, an ATH that terminated the remarkable rally of last year’s December.
Both meme coins are relatively new blockchain tokens that didn’t exist during the last bull run. The upcoming altcoin season will be the first time their communities will experience the event. Hence the heightened anticipation that COQ and SNEK could be among the notable performers at the peak of the evolving bull cycle.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Avalanche Foundation announced in its statement that, as a community, they own altcoins named Coq Inu, Gecko, Kimbo, NoChill and Tech.
14.03.2024 - 15:32
Update: 14.03.2024 - 15:32
Avalanche announced that it has invested in the altcoin called COQ and other tokens.
Avalanche Foundation announced in its statement that they own altcoins named Coq Inu, Gecko, Kimbo, NoChill and Tech.
“In late 2023, the Avalanche Foundation announced its intention to purchase community coins native to the Avalanche blockchain network.
This ongoing effort falls within the Foundation's broader Culture Catalyst program, which aims to incentivize Web3 creators, inspire innovation at Avalanche, and help drive greater adoption of blockchain.
Today the Avalanche Foundation announced its first five community coins. Additionally, the Foundation announces its intention to inform the public about these assets by providing transparency through regular disclosures.
As of today, the cryptocurrencies owned by the Foundation are as follows:
Coq Inu; Gecko; Kimbo; NoChill; tech
Other community funds could also potentially participate in the program. For example, the Avalanche Foundation is currently evaluating ERC-404 tokens following their promising debut as a new token class that the Avalanche community helped pioneer.
The Avalanche Foundation is also not required to purchase all community coins that meet the criteria. “
Following the news, COQ started to rise.
Community coins have become a cornerstone of Web3, representing the spirit, uniqueness, and interests of diverse crypto communities.
Today, the Avalanche Foundation announces its first five community coin holdings:$COQ, $KIMBO, $TECH, $GEC and $NOCHILL https://t.co/3kcz1EGhqn
— AvalancheFDN (@AvalancheFDN) March 14, 2024
*This is not investment advice.
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The nonprofit organization has gained exposure to the following memecoins: Coq Inu, Gecko, Kimbo, NoChill, and Tech.
The Avalanche Foundation revealed a range of five memecoins that it hopes to capitalize on.
(Unchained/Meg Christensen)
Posted March 14, 2024 at 1:25 pm EST.
The Avalanche Foundation, the nonprofit organization charged with supporting the Avalanche blockchain network, disclosed its holdings of five different memecoins early Thursday morning.
According to a blog post, the Avalanche Foundation holds Coq Inu, Gecko, Kimbo, NoChill, and Tech. These five tokens, which “represent the fun, spirit, uniqueness, and interests of diverse crypto communities,” collectively have a market cap of approximately $541 million, with Coq Inu representing over 74% of the total.
Read More: Avalanche Foundation Jumps on the Meme-Coin Wave
The disclosure announcement comes more than three months after the nonprofit unveiled its initial plans to purchase memecoins through its Culture Catalyst Initiative, a $100 million creator program that Avalanche rolled out in 2022.
The Avalanche Foundation “disclosed its holding of community coins today in order to reflect its efforts to support grass root community efforts and community spirit within the Avalanche ecosystem, as these underpin the vibrancy and engagement of the Avalanche network,” said Vikram Nagrani, the director of Avalanche Foundation, to Unchained.
No Intrinsic Value The memecoins in the Avalanche Foundation’s holdings appeal to the notion of meme culture driven by humor and group interests instead of market fundamentals.
Coq Inu, with a total supply of 69.42 trillion tokens, derives its marketability from its chicken-inspired mascot and suggestive pun in its name. Gecko, which uses a cartoon lizard as its mascot, originated from a regional community in Vietnam, while Kimbo “is the community web3 dog exploring the Avalanche ecosystem,” as proclaimed on its X account.
NoChill is a memecoin referencing the colloquial slang phrase regularly used within and beyond the crypto ecosystem to describe a variety of social situations like when someone acts without regard to others, moves recklessly, or behaves in any way that is not cool, calm, and collected. Tech takes its name from a popular adage among crypto denizens, “We are innit for the tech.”
Eligibility Concerns The Foundation’s policy for memecoin purchases stipulated that tokens must be older than one month to qualify; however, the foundation recently acquired TECH tokens, which began trading on Trader Joe, an Avalanche-based decentralized exchange, merely 10 days ago. This action has drawn criticism from community members who argue the foundation violated its own purchasing criteria. X user @0xChefGoose expressed dissatisfaction directly to Avalanche Foundation Executive Director Aytunç Yıldızlı on X, stating, “You guys posted criteria, and some of the coins you chose did not respect those criteria. That’s my main feedback.”
Yıldızlı later explained the reasoning behind the choices in a post on X, writing: “We considered the criteria that a token must be a month old as just an obstacle for new tokens with a community behind them. Considering how this ecosystem is fluid, the foundation should be flexible in its strategies, too.”
Read More: Avalanche Foundation Releases Eligibility Criteria for Meme Coin Purchases
The nonprofit entity may add more memecoins to its portfolio. “Other community coins could also potentially join the program,” the blog post stated. “For instance, the Avalanche Foundation is currently evaluating ERC-404 tokens following their promising debut as a novel token class that the Avalanche community is helping to pioneer.”
The Avalanche Foundation today announced the launch of Meme Coin Rush, a $1 million liquidity mining incentive program aimed at boosting the meme coin ecosystem on the Avalanche blockchain. The Foundation will hand out rewards for providing liquidity for meme coin trading pools on certain DeFi platforms.
This initiative follows the Foundation's recent acquisition of five Avalanche-based meme coins—the dog-themed Kimbo (KIMBO), chicken-themed Coq Inu (COQ), gecko-themed Gecko (GEC), technology joke token TECH, and NOCHILL—as part of its digital culture initiative.
“In the same tradition as the Foundation’s successful past incentive programs, Meme Coin Rush is designed to help scale liquidity and drive momentum, only this time for the community coin ecosystem on Avalanche,” the Avalanche Foundation said in an announcement shared with Decrypt.
Meme Coin Rush also mirrors the earlier Avalanche Rush program, which the Foundation said was instrumental in driving Avalanche DeFi growth when it kicked off in 2021.
In the first phase of the Meme Coin Rush program, Avalanche is launching liquidity incentives in partnership with SteakHut and Trader Joe, two Avalanche-native DeFi platforms. The Trader Joe exchange is not to be confused with the popular American grocery store chain.
During Phase 1 of its initiative, the Avalanche Foundation will provide $1 million in incentives in AVAX for native meme coins on SteakHut and Trader Joe. On SteakHut, the Avalanche Foundation will use Uniswap V3 to provide mining rewards to those injecting liquidity into its native meme coin pools. This helps reduce volatility, increase liquidity and stimulate trading of those tokens.
On Trader Joe, meanwhile, Avalanche will launch incentives with “single-sided, time-locked staking vaults for select tokens based on holder and market cap criteria.” Users will earn points for staking into pools, which increases the scarcity of those tokens and potentially increasing their price.
The foundation says the first weekly epoch includes vaults for the following community coins: Coq, Kimbo, NoChill, Gec, Tech, Husky, Meow, Kong, Meat, and Kingshit.
Meme coins are cryptocurrencies that are inspired by internet memes or jokes. They started as a lighthearted way to engage with the crypto community, but have since grown into a serious—but notoriously volatile—investment for some. The most famous example of a meme coin is Dogecoin, which was created as a parody of Bitcoin but has since gained a massive following and has even caught the attention of celebrities like Elon Musk.
The growth of meme coins can be attributed to several factors, including the power of social media for rapid meme propagation, their accessible lower prices that appeal to new investors, and the fun, community-driven nature of grassroots social media campaigns.
These tokens have not been particularly popular on Avalanche, however, mostly running on Ethereum and Solana. The Avalanche Foundation aims to change that.
“Meme coins have become a cornerstone of Web3, representing the uniqueness and interests of diverse crypto communities,” said Eric Kang, BD Manager at Ava Labs, in the announcement. “Meme Coin Rush will be a showcase for users to see the diversity of Avalanche-native DeFi protocols and to dive into vibrant communities at the forefront of culture on Avalanche.”
Edited by Ryan Ozawa.
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A closely followed crypto strategist is turning very bullish on memecoins in the current market cycle.
Pseudonymous analyst Altcoin Sherpa tells his 215,600 followers on the social media platform X that retail traders could send memecoins soaring.
[adinserter block="1"]
“Highly bullish on memes this cycle though for a lot of reasons. New retail wants to get rich quick, they’re going to enter the casino with us. Adapt or continue to underperform.”
The analyst also reveals his top memecoin picks starting with large market cap projects: Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Bonk (BONK) and dogwifhat (WIF).
The analyst’s top mid-cap memecoin picks include Brett (BRETT), Joe Boden (BODEN), Popcat (POPCAT), Coq Inu (COQ) and Myro (MYRO).
The analyst also says that BONK is likely to continue to outperform another Solana (SOL) based memecoin, WIF.
“WIF: Bonk and WIF take turns leading as the Solana meme leader. It looks like eyes are mostly on BONK at the moment and I expect there to be a leader/lagger relationship similar to DOGE/SHIB. For now, I expect WIF to do decently as long as BONK is strong, but probably better to just long the leader aka BONK…
BONK looks strong, expecting WIF to also do well as long as BTC holds up. Probably wouldn’t buy here though given the previous price action.”
Source: Altcoin Sherpa/X BONK is trading for $0.00002825 at time of writing, up nearly 12.5% in the last 24 hours. Meanwhile, WIF is trading for $3.20 at time of writing, down more than 1% on the day.
In the exciting world of crypto, investors are continually on the lookout for the next big opportunity. Now, a new contender has surfaced, attracting attention with its unique proposition: Raboo. This new project is setting a new precedent for what meme coins can achieve, and with Myro and Coq Inu seeing a slide in price, Raboo’s meme coin presale stands out as a promising opportunity for those targeting the highest profits
Myro, a token inspired by the dog of Solana co-founder Raj Gokal, epitomizes the blend of community spirit and blockchain innovation. Myro highlights Solana’s capabilities while fostering a more inclusive digital world. However, despite Myro’s strong foundations, Myro finds itself in a market craving novelty, looking towards new ventures like Raboo’s meme coin presale to satiate this demand.
Born from a mix of memetics and community enthusiasm, Coq Inu represents a lifestyle choice for many in the crypto space. Coq Inu carved a niche for itself with its distinctive culture and ecosystem. Yet, as the market dynamics shift, the focus is increasingly moving from Coq Inu towards fresh initiatives like Raboo that promise to bring a new dimension to the meme coin domain.
Raboo: A new dawn in meme coins beats Myro and Coq InuRaboo’s presale is capturing the market’s imagination, promising to deliver more than just speculative value. Priced attractively at $0.0042 during its presale phase, Raboo is anticipated to achieve a significant surge, with analysts predicting up to a 100x increase in value post-launch. This optimism is rooted in Raboo’s groundbreaking approach, which integrates artificial intelligence with the viral appeal of meme coins, offering a unique proposition that distinguishes it from predecessors like Myro and Coq Inu.
The unique appeal of RabooWhat sets Raboo apart is its comprehensive strategy to engage and reward its community. Unlike traditional meme coins, Raboo is built on a foundation of AI-driven technology, offering an ecosystem that includes NFT launches, merchandise, and a platform for AI memes — both generation and sharing. This presale is not just an investment opportunity but an invitation to be part of a community-centric project that blends entertainment with the likelihood of big financial growth, and the potential for going viral with its AI memes.
The future of meme coin investmentsAs the crypto market continues to grow, Raboo represents the next generation of meme coins. It offers a compelling investment opportunity that combines the lighthearted appeal of meme culture with serious technological innovation, and for investors who have witnessed the rise and fall of tokens like Myro and Coq Inu, Raboo presents a fresh and exciting opportunity to diversify their portfolios with a project that looks ready to explode into significant growth.
Raboo’s meme coin presale is a rare opportunity to secure a piece of a project that looks destined for the big time, with a pioneering project that redefines the boundaries of what meme coins can achieve and sets the standard for the future. With its unique blend of AI technology and community engagement, Raboo is setting a new standard for future projects in this space, and for those looking to participate in a meme coin presale with substantial growth potential, Raboo offers an unparalleled opportunity.
Presale – Telegram – Twitter
Disclaimer: This article is a press release. COINTURK NEWS is not responsible for any damage or loss related to any product or service mentioned in this article. COINTURK NEWS recommends that readers carefully research the company mentioned in the article.
