Bitcoin miner Marathon Digital has expanded its Bitcoin holdings by purchasing an additional $249 million worth of Bitcoin after raising $300 million through a senior note offering.
On August 14, Marathon announced that it had used a portion of the proceeds from the note sale to acquire approximately 4,144 Bitcoin at an average price of roughly $59,500. This purchase increased the company’s “strategic Bitcoin reserve to over 25,000 BTC,” as shared on X (formerly Twitter).
The convertible senior notes, due in September 2031, yielded net proceeds of around $292.5 million for Marathon. These notes carry a 2.125% annual interest rate and can be converted into cash, Marathon stock, or a combination of both.
Marathon stated that the remaining cash from the note sales would be used to buy more Bitcoin and for “general corporate purposes,” which may include strategic acquisitions. A spokesperson for Marathon told Cointelegraph that the company views Bitcoin as “the premier strategic treasury asset” and is pursuing “a multifaceted strategy for acquiring Bitcoin.”
This latest purchase follows a previous acquisition in July, when Marathon bought 2,282 BTC for $124 million. Marathon’s CEO and chairman, Fred Thiel, described this move as part of a “hodl strategy” — a term that has become popular in the crypto community, derived from a misspelling of “hold.”
Marathon shares closed down 2.26% on the day at $15.14, reflecting a nearly 34% decline year-to-date, according to Google Finance. After-hours trading saw a slight additional drop of 0.13% to $15.12.
Earlier in August, Marathon’s second-quarter earnings fell short of Wall Street expectations, with revenues of $145.1 million—9% below estimates—though the company still reported a 78% year-over-year increase from Q2 2023.
The company’s challenges come amid a significant decline in crypto mining profitability following the Bitcoin halving, which reduced mining rewards by half. Miner hash price, a key measure of mining profitability, fell to a record low earlier in August. Blockbridge noted that large public miners, particularly Marathon, which had the highest all-in mining cost in August, are facing difficulties in turning a profit.
Devolved AI has made a huge step forward in the niche of decentralized artificial intelligence by launching its native token, AGC, on MEXC, one of the world’s largest cryptocurrency exchanges. This significant occurrence took place on August 5th, 2024, immediately following Devolved AI’s successful launch of its Layer 1 mainnet on Argochain on July 1st, 2024. These dual accomplishments represent a watershed point in Devolved AI’s history, reinforcing its place at the vanguard of the decentralized AI revolution.
For crypto enthusiasts, the listing of AGC on MEXC offers more than just a new trading option. It signifies the growing recognition and validation of Devolved AI’s innovative approach to AI development and governance.
As the world embraces the dawn of the AI era, the consequences of Devolved AI’s advancement go far beyond the popular worlds of technology and finance. This breakthrough foreshadows a future in which AI is formed and overseen by a worldwide community of stakeholders rather than a select few corporate titans.
Revolutionizing AI Development
Devolved AI’s breakthrough approach is based on a unique blend of blockchain technology and artificial intelligence. This integration provides a degree of decentralization and community engagement that distinguishes Devolved AI from its competitors.
One of the platform’s most notable features is its decentralized AI training system, which will use federated learning to leverage the power of a massive network of GPUs, enabling Devolved AI to train its AI models up to 100 times quicker than other approaches.
Another significant distinguishing feature of the platform is its community-driven development strategy. Devolved AI has established a dynamic and active ecosystem by encouraging contributions from developers and the global community using AGC tokens.
This strategy not only promotes creativity but also assures that AI development is tightly aligned with its user’s requirements and ideals. Community members may propose, discuss, and vote on significant projects, improvements, and strategic objectives for the AI ecosystem, resulting in a fully democratic AI development process.
Transparency and trust are also important cornerstones of Devolved AI’s ideology. Using blockchain technology, the platform keeps a transparent and immutable record of AI models, training data, and governance decisions.
Such transparency fosters confidence in the ecosystem and establishes a new benchmark for responsibility in AI development. Furthermore, using decentralized distributed training architectures enables efficient, scalable, and equitable AI development, pushing the frontiers of the niche’s achievable goals.
The Future of Devolved AI
With AGC’s successful listing on MEXC and its mainnet’s launch, Devolved AI is positioned for significant expansion and innovation. The company’s future plans include several significant developments that aim to improve its ecosystem and strengthen its position as a leader in decentralized AI.
One of the most exciting is the fine-tuning of Athena 2, Devolved AI’s advanced language model. Based on Mixtral 8x7b, Athena 2 is being improved to fully comprehend and assist the Devolved AI project. By incorporating community feedback, this strategy ensures that the model changes to meet the requirements and expectations of its users.
Devolved AI is rapidly developing its federated learning system in tandem with Athena 2’s progress. This focus on decentralized and secure AI training is crucial for ensuring data privacy and enhancing collaboration within the ecosystem. Hence, by allowing AI models to be trained on distributed datasets without centralizing the data, Devolved AI addresses one of the key challenges in AI development: access to diverse, high-quality training data from a global community.
Another area of concentrated effort is the development of a complicated infrastructure for dispersed training. To enable Devolved AI to handle more complex models and datasets, this technology will build the foundation for scalable and effective AI model training to ensure efficient, scalable, and fair AI development.
Indeed, Devolved AI has demonstrated its commitment to long-term growth and technical innovation with this infrastructure investment.
In Summary
The listing of AGC on MEXC and the successful launch of the mainnet on Argochain represent more than just milestones for Devolved AI. They are a testament to the viability and potential of decentralized AI development.
As Nathan Peterson, CEO of Devolved AI, aptly said, “The listing of AGC on MEXC and the successful launch of our mainnet on Argochain are pivotal milestones for Devolved AI. These achievements lay the foundation for our future innovations, particularly with Athena 2, which will leverage federated learning to push the boundaries of decentralized AI.”
The future is tremendously bright for Devolved AI as it continues to add new features to its blockchain and develop collaborations with top firms in the blockchain and AI space. The firm is at the forefront of a new age in artificial intelligence owing to its creative approach to AI development, dedication to community involvement, and openness.
Now that AGC is accessible on MEXC, traders and investors may join this thrilling journey and help build a revolutionary platform while reaping the rewards. Looking ahead, it’s evident that Devolved AI is spearheading the AI revolution rather than merely taking part.
Trump Loves Elon could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Trump Loves Elon (TRUMPELO), a new Solana memecoin that was launched recently, is poised to explode over 17,000% in price in the coming days.
This is because TRUMPELO is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Trump Loves Elon can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Trump Loves Elon could become the next viral memecoin.
Trump Loves Elon launched with over $6,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Trump Loves Elon on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Trump Loves Elon by entering its contract address – 9fb2rMzmVvBCT8fCN2HzQWhwFKv5xabhFsfyGGJB7W5Z – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like TRUMPELO.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
bitSmiley, a pioneer in building overcollateralized stablecoin backed by BTC, is proud to announce a strategic collaboration with Babylon to transform the landscape of Bitcoin liquidity. This collaboration marks a significant milestone in the blockchain space, integrating BTC into the Proof-of-Stake world and other blockchain economies.
As Native BTC staked on Babylon increases, the potential of BTC Liquidity Staking Tokens (LSTs) remains largely untapped—until now. With the introduction of bitSmiley, Babylon is unlocking new opportunities for BTC holders, offering unprecedented yield-generating options through an innovative stablecoin mechanism.
Introducing the First BTC-Backed Stablecoin with Yield
bitSmiley’s protocol allows users to deposit BTC, which is then staked within the Babylon ecosystem, offering both flexible and fixed-term staking options. This process enables users to mint bitUSD, a BTC-backed stablecoin, across multiple chains including Ethereum, Solana, and Babylon itself. This seamless integration positions bitSmiley as a revolutionary LST protocol within Babylon’s ecosystem, delivering superior liquidity options that go beyond traditional LST projects.
Unleashing the Power of BTC LST Liquidity
bitSmiley transforms static BTC LST assets into dynamic opportunities, enhancing BTC trading activity and offering multiple reward streams. Users can stake Native BTC to receive BTC LST tokens, use these tokens as collateral to mint bitUSD, or provide liquidity on bitCow for LP tokens, which can also be utilized to mint bitUSD.
This dynamic strategy maximizes rewards by leveraging Staking Yield, Protocol Yield, LP Yield, and Active Yield within the Babylon and bitSmiley ecosystems. Through these innovative strategies, users can achieve optimal yields, manage positions strategically, and fully capitalize on their BTC assets.
Redefining BTC Liquidity
The collaboration between bitSmiley and Babylon is more than just a pathway to higher yields; it’s a game-changing approach to BTC LST liquidity. By staking native BTC on Babylon and utilizing bitSmiley, users can unlock unparalleled returns while significantly enhancing the liquidity of the BTC ecosystem. This partnership sets a new standard in decentralized finance, driving both profitability and ecosystem growth.
Babylon and bitSmiley are at the forefront of financial innovation, pushing the boundaries of what’s possible in decentralized finance. Join the revolution, stake your BTC, and unlock the future of digital finance today.
About Babylon and bitSmiley
Babylon is a leading blockchain platform dedicated to integrating Bitcoin into the broader blockchain economy through innovative Proof-of-Stake solutions. bitSmiley is an innovative protocol that transforms BTC into a liquid asset with yield-generating capabilities. Together, they are redefining the possibilities for BTC liquidity in the decentralized finance space.
For more details, visit https://www.bitsmiley.io.
Institutional investors have paused their accumulation of stablecoins, leading to a significant drop in Bitcoin’s price below a key psychological level.
Over the past 24 hours, Bitcoin’s price fell by 3.9%, trading at $58,930 as of 08:03 am UTC on August 12, down from a weekly high of $62,510.
The dip below the $60,000 mark appears to be linked to institutions halting their stablecoin buying spree, according to an August 12 post on X by on-chain analytics platform Lookonchain: “Institutions seem to have temporarily stopped buying, and the price of $BTC dropped 4.5% today! We noticed that institutions stopped receiving $USDT from #TetherTreasury and transferring it to exchanges 2 days ago.”
Stablecoin inflows to crypto exchanges are a key indicator of buying pressure and investor interest, as they serve as the primary on-ramp from fiat to crypto for many investors. The recent halt in institutional stablecoin inflows could indicate a temporary lack of appetite for Bitcoin.
From August 5 to August 9, Tether, which issues the world’s largest stablecoin (USDT), minted over $1.3 billion worth of stablecoins, coinciding with a market bottom. This influx of stablecoins was transferred to major centralized exchanges, including Kraken, Coinbase, OKX, and Bullish.
Bitcoin had reached a five-month low of just above $49,500 on August 5 but rebounded by over 21% to surpass $60,000 by August 9. The price could recover above the $60,000 resistance level once large institutional stablecoin inflows resume.
Technical analyst Rekt Capital noted that Bitcoin needs to reclaim $60,600 to sustain its upward momentum, stating in an August 10 post: “Bitcoin is doing all the right things to confirm $60,600 as support so as to position price for a revisit of $65,000+ over time.”
Tether, the issuer of USDT—the world’s largest stablecoin—has minted over $1.3 billion worth of USDT since the market bottom, as investors appear to be positioning themselves to buy the dip.
Since the market hit its low on August 5, Tether’s treasury has printed over $1.3 billion in USDT. This newly minted USDT has been transferred to several major centralized cryptocurrency exchanges, including Kraken, Coinbase, OKX, and Bullish, according to an August 9 post on X by Lookonchain.
Large inflows of stablecoins like USDT to crypto exchanges often indicate that investors are preparing to buy assets, as stablecoins serve as the primary gateway for converting fiat currency into cryptocurrencies.
Following a significant $510 billion sell-off in the crypto market, there is speculation that the local market may have reached its bottom. Since August 5, when Bitcoin (BTC) hit a five-month low of just above $49,500, the cryptocurrency has shown signs of recovery. According to Bitstamp data, Bitcoin’s price has rebounded by over 21%, reaching $60,271 as of 10:44 am UTC. In the past 24 hours alone, Bitcoin has risen by more than 5.2%.
Despite this recovery, Bitcoin may still face volatility unless it can break through the crucial $64,000–$65,000 resistance level. This price range is significant because it represents the short-term realized price for large Bitcoin holding entities, often referred to as “whales.” As noted in an August 9 post by CryptoQuant, “The short-term holder whale realized price is in the 64K-65K range. This level may present itself as a resistance.”
Investors are now watching closely to see if the influx of USDT can help push Bitcoin above this key threshold.
On August 9, Ripple Labs announced the initial tests of its United States dollar-pegged stablecoin, Ripple USD (RLUSD), on the XRP Ledger (XRPL) and Ethereum mainnets. The company also revealed plans to deploy the fiat-backed token on additional blockchain networks in the future.
Ripple Labs stated that RLUSD will be overcollateralized, meaning each unit of RLUSD will be backed by USD reserves or short-term cash equivalents at a 1:1 ratio with the US dollar. To ensure transparency and accountability, Ripple has promised third-party audits of the underlying cash assets and will publish monthly reports on the reserves.
The firm also reaffirmed its commitment to both XRP and RLUSD, dispelling rumors that it would shift focus from XRP to its new stablecoin.
Ripple Labs emphasized that the stablecoin is currently in beta testing with enterprise partners and cautioned users to be wary of scammers claiming to offer early access to RLUSD, which is not yet available for purchase or live trading.
This announcement follows an August 7 ruling by Judge Analisa Torres, which imposed a $125-million penalty on Ripple Labs in the Securities and Exchange Commission’s (SEC) lawsuit, originally filed in 2020. Ripple CEO Brad Garlinghouse described the penalty as a “victory” against the SEC, which had sought a $2-billion fine for alleged securities violations.
Following the ruling, XRP saw a surge in its price, climbing 26% to reach $0.64 on the same day.
Despite these positive developments, Ripple Labs’ Q2 2024 XRP Markets Report highlighted a 65.6% drop in transaction volume on the XRPL, falling from 251 million transactions in the first quarter to 88 million in the second quarter. The report also noted a significant increase in the average cost per transaction on the ledger.
In times of declining effectiveness of crypto incentive programs, the Taunt Token airdrop campaign has caught the interest of crypto enthusiasts due to its creative method of rewarding real and active users. Issued by Taunt Network, which aims to revolutionize interactive gaming experiences, the Taunt token will be used to drive tokenized engagement between audiences and creators.
This article will look at the mechanics of the Taunt Token airdrop, including how it works, who is eligible, and how to maximize the chances of obtaining more airdrop tokens.
Understanding the 1M $TAUNT Token Airdrop
The Taunt Token airdrop is a unique $1 million campaign that aims to distribute $TAUNT tokens while encouraging genuine community interaction. Unlike typical airdrops, this strategy takes a unique route—using special Soul-Bound Tokens (SBTs), Engagement Points (EPs), the EP lottery, and the Referral Program.
How Does Taunt Token Prevent Bot Abuse?
Bot activity has been increasing recently, especially when airdrops are involved. This has impeded the efficient distribution of airdrop campaigns and caused a number of issues in various airdrop campaigns. Nonetheless, the Taunt Token’s airdrop uses more advanced technology to reward only actual community members. This guarantees an equitable and fair token distribution and is expected to benefit the token valuation at launch.
What are Soul-Bound Tokens (SBTs)?
The Taunt Token incentive scheme is based on non-tradable tokens called Soul-bound Tokens (SBTs). Tokens can be earned by platform-specific activities, such as challenges and referrals. Additionally, SBTs function as a “key” to enable the ecosystem’s Engagement Points (EPs) earning system.
How can users get Soul-Bound Tokens?
Earning SBTs requires performing specific tasks. Every week, there is a distinct SBT with criteria set for every community member to complete within that timeframe. Notably, these tokens can’t be claimed retrospectively; users must earn them through constant task participation, fostering continued engagement and fair compensation for everyone involved.
How do SBTs Contribute to the Taunt Token Ecosystem?
SBTs are essential to the Taunt Token ecosystem in several ways. First, they are required to obtain Engagement Points, meaning that only dedicated users can accrue rewards. Second, SBTs boost users’ chances of winning rewards by acting as multipliers in the weekly EP lottery. Up to 4 SBTs may be awarded to an engaged user who joins at the beginning of a four-week campaign
What are the Different Quests of SBT Activities in Battleworld?
SBT Activities are organized into quests:
Quest 1 (Social)
Thesee initial Quest, which a user must complete before proceeding to other Quests. Activities in this Quest are simple and can be completed quickly. They include;
• Make an account on Battleworld’s website.
• Follow Battleworld on X.
• Follow $TAUNT on X.
• Join the Battleworld Discord.
• Join the $TAUNT Telegram.
Quest 2 (Play Battleworld)
• Play a tournament with an Outsider warrior.
• Visit the Gitbook
Quest 3 (Discover Underworld)
• Play Bored of Directors – Battleworld Escape powered by Pipeflare
Quest 4 (Referrals and deeper engagement)
• Complete referrals to the $TAUNT airdrop campaign.
• Retweet a post from the Battleworld X account.
• Make a post on X using the $TAUNT tag.
• Like a Battleworld X post.
Quest 5 (Watch and Earn)
• Watch a Battleworld match
• Play in a Battleworld prediction match
How do Engagement Points (EP) work?
Engagement Points (EP) are the foundation of the Taunt Token reward campaign. Users can earn these off-chain points by participating in various platform activities. In addition to gauging user activity, EP may be exchanged for Taunt tokens. Interestingly, EP’s value increases with time, providing a strong incentive for continued involvement and long-term ownership.
How can Users get Engagement Points Daily?
Users may earn EPs through a variety of daily activities. These include possessing and holding certain assets such as Genesis Pass, Genesis Warriors, and Black Magic Warriors, with benefits ranging depending on their rarity and quantity. Additional daily EP-earning alternatives include participating in Battleworld Watch and Earn games and owning NFT fighters of various races and rarity Quests.
How to Earn Extra Engagement Points?
Beyond daily activities, users may earn EPs through a variety of innovative techniques. The referral program awards EPs when referred users obtain an SBT. Users can also spin the Wheel by spending SKULLS on Battleworld’s website for a chance to win EPs and other prizes. Additionally, the platform rewards users to perform activities or generate content, with winners chosen by the Battleworld team and community. These multiple alternatives adapt to different user interests, promoting various interactions with the ecosystem.
Benefits of the Referral Program
The referral program for the airdrop campaign has many perks for users with more referrals. The two primary benefits of the referral program are a referral leaderboard and a higher chance of winning the EP lottery. For the leaderboard, a user’s position is based on the number of new users onboarded. Note that additional EP rewards are attached to leaderboard positions with a higher chance of winning in the EP lottery.
How Does the EP Lottery Operate?
The EP Lottery is a weekly event where users may participate using their acquired Engagement Points (EPs). Every EP is like a lottery ticket, allowing users to win different rewards. Users may increase their chances of winning by performing specific tasks inside the ecosystem, such as the referral program explained above.
How do SBTs Impact Lottery Entries?
SBTs increase users’ EPs’ worth, giving them a significant edge in the lottery. The user’s effective EP count will be boosted by 10% with each SBT, which is multiplicative with more SBTs.
Which Prizes are up for Grabs in the EP Lottery?
The EP Lottery provides a wide selection of rewards to cater to a variety of user interests. These perks include NFT fighters, Genesis Passes, cryptocurrency incentives in MATIC or ETH, and extra EPs available to winners. Principally, the diversity of rewards the lottery offers guarantees that it will always be intriguing and relevant to a large segment of the ecosystem.
Earning Engagement Points Through Battleworld Mini-Games
Battleworld Underground is a collection of six mini-games inspired by the Battleworld IP. These games provide players more chances to earn Engagement Points (EPs) and fit in with Battleworld’s narrative. The first game in the ecosystem, “Bored of Directors – Escape from Battleworld,” introduces players to this new kind of gaming.
Users may earn EPs by playing daily mini-games offered by Pipeflare. Each game awards a defined number of EPs for participation and victory, making the process of acquiring Taunt Tokens more gamified.
The conventional trading ecosystem has long been plagued by fundamental problems: most traders lose money trying to predict markets, trading creates adversarial relationships between investors, and high fees and counterparty risks are rampant. However, a revolution in the trading industry is on the horizon. Imagine a scenario where you don’t need to foresee market moves to benefit. This is precisely what Untrading provides.
Untrading Technologies Pte Ltd, a Singapore-based fintech firm, is driving this change with its decentralized asset management platform. Leveraging cutting-edge protocols and blockchain technology, Untrading aims to make trading more profitable, transparent, and fair for all parties involved.
The Problems with Traditional Trading
Most traders, especially beginners, eventually lose significant money as they proceed on their trading journey. The cause? They focus on attempting to forecast market changes based on various analytical conditions. These attempts often fall outside their plan, demonstrating that the notion of precise market forecasts being necessary for successful trading is fundamentally flawed.
Unfortunately, this mindset turns trading into a competition, making it difficult for anyone to consistently come out on top. The system profits from traders’ mistakes, fostering a hidden agenda where exchanges stand to gain more from traders’ losses.
Reimagining Asset Ownership and Value
Untrading’s innovative techniques are leading the way in reimagining asset ownership and value monetization in the digital era.
Untrading cracks the code on win-win: Where Game Theory meets crypto – turning Prof. Axelrod’s most successful cooperative strategy into a paradigm-shifting blockchain investment infrastructure.
Cooperative Strategies: Insights from Prof. Robert Axelrod’s Research
Untrading’s philosophy was proven by the groundbreaking work of Professor Robert Axelrod on cooperative strategies. Axelrod’s research, particularly his famous “Evolution of Cooperation” studies, provides crucial insights that Untrading has adapted for the crypto trading world. By integrating these principles, Untrading creates an ecosystem where cooperation is not just encouraged but becomes the most profitable strategy for all participants.
Provenance Value Amplification (PVA)
Untrading’s invention is centered around the Provenance Value Amplification (PVA) protocol. This commission-free mechanism enables token holders to profit from future price increases even after they sell their assets. PVA ensures that those who have contributed to the history of an asset are appropriately compensated, understanding the importance of provenance, especially in metaverse assets.
Key features of PVA include:
- ERC-5173 Integration: Users can get a cut of future sales proceeds from previously held assets.
- No Commission Fees: Untrading does not charge commissions and avoids conflicts of interest using a shared success approach.
- Blockchain-Powered Innovation: State-of-art Multisig smart contract technology secures the system.
Building Collaborative Environments
The strategy used by Untrading encourages the growth of open, value-driven communities. Users may foster a more helpful and cooperative trade environment by exchanging ideas, tactics, and success stories. This transition from adversarial to shared prosperity partnerships eliminates financial conflicts and mismatched incentives.
Innovation and Technology
Untrading uses innovative technology to make trading more intelligent and effective:
- Truly Divisible NFTs: A novel structure increases adaptability and offers countless opportunities.
- Upgraded ERC-20 Tokens: Any ERC-20 token may be upgraded to a divisible NFT, which combines the fungibility advantages of ERC-721 with the uniqueness of ERC-20.
- Modular Smart Contract Infrastructure: Multi-sig smart contracts with a modular design make security, smooth deployment, and upgradability possible.
Compared to established platforms, these advances place Untrading as a leader in transparency, trust, accessibility, efficiency, and security.
Market Opportunity and Growth Strategy
Untrading concentrates on the quickly growing Southeast Asian crypto retail investor base, which consists of over 37 million users spread across essential markets, including the Philippines, Indonesia, Malaysia, and Vietnam.
Untrading has developed a thorough expansion plan to take advantage of this opportunity. In the initial phase, the company integrates important partners and creators while focusing on community building and ecosystem jumpstart.
During its second phase, Untrading concentrates on acquiring users by employing strategic partnerships. The company’s strategy involves partnering with top cryptocurrency platforms and wallets to integrate its functionality into partner platforms.
The last stage focuses on enterprise and institutional outreach. Untrading wants to work with businesses investigating blockchain-based revenue streams and partner with financial institutions on innovative product development.
Regulatory Advantage and Global Expansion
In an attempt to capitalize on many significant benefits, Untrading is aggressively pursuing a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS).
Getting the MAS license will, first and foremost, significantly increase Untrading’s legitimacy and dependability.
Furthermore, Singapore’s regulatory structure provides regulatory synergy with other regional markets because it is well-aligned with them. This alignment makes it simpler for Untrading to grow its services regionally by streamlining compliance procedures and enabling more seamless operations across several countries.
Finally, Untrading will have a solid platform for international growth thanks to the MAS license. Untrading can more skillfully traverse the regulatory environments of other countries by creating a solid regulatory foundation in Singapore.
The company intends to expand gradually around the world, giving priority to regions with hospitable regulatory frameworks.
Creative Community-Sparked Growth
Untrading is employing distinct tactics to promote uptake:
- KOL-Led Investment Groups: This approach forms dynamic investment groups by collaborating with prominent trading community leaders, gamifying the transition from “Camps” to “Kingdoms.”
- Religious Community Focus: Reaching out to close-knit religious groups by working with authorized local investment advisers and sending out committed ambassadors.
Future Developments
Market Making Yield for Statistical Arbitrage (SAMMY)
SAMMY, a statistical arbitrage-based hedge fund strategy, is scheduled to launch in Q1 2025. This functionality will allow users to take advantage of risk-free high-frequency trading possibilities. Untrading intends to employ this tactic for its token on several exchanges in Q3 2024 and provide market-making services to exchanges and cryptocurrency projects.
Upcoming Innovations: Bridging the Gap Between CEXes and DEXes
As part of its commitment to continuous innovation, Untrading is excited to announce the development of its v1.5 release, scheduled for Q4. This update will introduce a groundbreaking feature that promises to revolutionize users’ trading experience.
At the heart of this update is an industry-first On-demand Market Making (OMM) mechanism. This innovative system combines the best features of centralized exchanges (CEXes) and decentralized exchanges (DEXes), offering users an unparalleled trading experience.
Key benefits of the OMM mechanism will include:
Enhanced Price Execution: Users can expect improved price fills, ensuring they get the best possible rates for their trades.
Minimal to Zero Slippage: The mechanism is designed to significantly reduce or eliminate slippage, a common issue in many existing exchanges.
Abundant Liquidity: The OMM will provide ample liquidity across various trading pairs by leveraging advanced market-making techniques.
Seamless User Experience: The system will operate behind the scenes, offering users the benefits of sophisticated market-making without additional complexity in the trading process.
While excited about this innovation, Untrading is keeping the specific details under wraps for now. This strategic decision allows the platform to maintain its competitive edge and ensure that it can deliver a fully optimized and tested system to its users.
The introduction of the OMM mechanism represents a significant step forward in Untrading’s mission to create a more efficient, fair, and user-friendly trading environment. It aligns perfectly with the platform’s existing innovations, like the Provenance Value Amplification (PVA) protocol and their implementation of Professor Axelrod’s cooperative strategies.
As the release date approaches, the Untrading team will be sharing more information about this feature and how it will integrate with their existing ecosystem. The team encourages users and industry observers to stay tuned for updates and prepare to experience the next evolution in decentralized trading with their v1.5 release.
Conclusion
In the field of finance, Untrading is a paradigm change that provides a solution to the persistent problems with traditional trading. By eliminating the need for forecasts, promoting cooperative ecosystems, and utilizing cutting-edge blockchain technology, Untrading is set to upend the multi-trillion-dollar trading sector.
Owing to its unique features, the platform’s users have never-before-seen opportunities to participate in sophisticated trading strategies and profit from asset appreciation. These include Provenance Value Amplification, a Collaborative environment, Innovative Technology, an impending SAMMY strategy, and the development of the v1.5 release. Untrading makes trading more fair and beneficial for all parties by emphasizing security, transparency, and aligned incentives.
Untrading has the potential to upend the multi-trillion-dollar trading sector. In order to support this goal, they are making up to 4% of their tokens available to forward-thinking investors. These funds will be used to improve platform development and user experience, increase market penetration and add new users, empower their community through growth initiatives and educational resources, and draw in top talent to spur innovation and expansion.
At the Aug. 7 Wall Street open, Bitcoin (BTC) hovered around $56,000, raising concerns over a lack of support.
Data from Cointelegraph Markets Pro and TradingView showed BTC’s price rebound stalling, with BTC/USD remaining flat compared to the daily open. Despite being up by around $7,000 from the six-month lows on Aug. 5, market observers remained worried amid uncertainty.
Analyzing exchange order book conditions, trading resource Material Indicators suggested that Bitcoin’s price direction could go either way based on current buy and sell liquidity. “The amount of BTC ask liquidity between here and the CME Gap fill is significant, but not insurmountable,” it noted in a post on X. “The concern is that there aren’t any large buy walls in the active trading range to create a foundation for a stronger move up. Let’s see if that changes after TradFi opens and the CME Gap is open for business.”
The “gap” in CME Group’s Bitcoin futures market, potentially acting as a price magnet, was identified between $57,845 and $58,845.
Material Indicators co-founder Keith Alan warned about two potential death crosses involving various moving averages but mentioned that the downside they suggest could be mitigated. “Trend Precognition and the MACD are both signaling a momentum shift on the Bitcoin Daily chart. The bullishness of those signals is somewhat dampened by the death cross between the 21-Day and 100-Day MAs. It appears that the 50-Day and the 200-Day are also on a similar path,” he explained on X, referencing proprietary trading indicators.
“It’s worth noting that Death Crosses are lagging indicators. A fast recovery could unwind them, and if BTC bulls can manage to fill the CME Gap today and continue upward, that would be a sign of strength. Failure to fill the gap or a rejection from the top of the gap would be a concern for bulls.”
The macroeconomic situation also remained volatile, with traders adopting a “wait and see” approach. In its latest bulletin to Telegram subscribers, trading firm QCP Capital advised monitoring macro correlations closely. “While the initial shock may have passed, we foresee continued selling pressure in the coming days as systematic funds continue to pare exposure in light of the heightened volatility,” it warned. “We recommend keeping a close eye on Nasdaq, Nikkei, and USDJPY as cross-asset correlations remain high in the near term.”
QCP reiterated its earlier view on long-term profitability, suggesting that crypto should now be suitable for longs.