Relai, a Swiss-based Bitcoin-only application, has announced an exciting development for its users – the integration of Blockstream’s Greenlight solution, which will introduce Lightning payment functionality to the platform.
This collaboration aims to enhance the Bitcoin payment experience for Relai’s user base, according to a detailed announcement provided to Cointelegraph.
Blockstream’s Lightning-as-a-service offering is being woven into the fabric of Relai’s dedicated Bitcoin wallet platform.
This integration is poised to empower approximately 100,000 Relai users with the ability to conduct Bitcoin (BTC) transactions swiftly and affordably via the Lightning Network, all the while retaining control over their private keys.
Importantly, this move allows Relai to bypass the need for creating and managing its own Lightning infrastructure.
The inception of Greenlight by Blockstream in June 2023 marked a significant stride toward facilitating rapid, cost-effective Bitcoin payments for developers and platforms, emphasizing user sovereignty over private keys.
Traditional custodial solutions, while convenient and quick to set up, often compromise user security and privacy.
In contrast, noncustodial services, which prioritize these aspects, typically demand extensive technical and operational input.
Greenlight’s novel approach divides custodial Lightning nodes into distinct, independently functioning components.
READ MORE: Arbitrum to Release $2.32 Billion in Vested Tokens, Sparking Market Speculation
It utilizes Core Lightning for its foundational structure, enabling all operations related to private keys to be executed on the user’s device, effectively making it the signer.
The rest, including operational requirements, are managed on Blockstream’s infrastructure.
This infrastructure is grounded in the Validating Lightning Signer project, ensuring thorough verification and safeguarding user autonomy over fund-related operations.
It mirrors the architecture of hardware wallets, which combine a user-operated client interface and signer with the wallet provider’s Bitcoin node that connects to the broader network.
This setup facilitates payment initiation and invoice signing by the user, with Blockstream managing the node responsibilities.
Founded in 2020, Relai has exclusively focused on Bitcoin trading and custody, boasting over $300 million in trading volume in its four-year history.
The platform’s pivot towards Lightning payments follows broader industry trends, with leading exchanges, including Coinbase, enhancing their Bitcoin transaction capabilities.
In September 2023, Coinbase, the largest U.S. exchange, announced its plan to adopt Bitcoin Lightning payments, underscoring Bitcoin’s pivotal role in the cryptocurrency ecosystem and its potential to enable quicker, more economical BTC transactions, as highlighted by CEO Brian Armstrong.
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In the dynamic world of cryptocurrency, Pepe Coin (PEPE) has emerged as a standout performer.
This weekend, it was in the limelight alongside giants like Bitcoin (BTC) and Ether (ETH), with both experiencing significant price increases.
BTC continued its streak of setting new all-time highs, while ETH crossed the $4,000 mark for the first time in two years.
PEPE also joined this upward trend, reaching a new all-time high, prompting large holders to secure profits.
Launched in April of the previous year, the frog-themed PEPE quickly became a prominent figure in the memecoin market, rivalling others like BONK and various Solana-based memecoins.
Despite a period of reduced attention, the recent market bull run has seen PEPE’s value soar, capitalizing on the positive market sentiment.
READ MORE: Bitcoin ETFs Will Hold Over 10% of BTC Supply By Q3
A significant transaction highlighted by Lookonchain involved a whale profiting over 431% in just two weeks, withdrawing over 1 trillion PEPE tokens from Binance in three separate moves before the price surge, culminating in an impressive $8.13 million gain from an initial $1.7 million investment in PEPE tokens.
This series of transactions underscored the substantial profits being made in the memecoin sector.
This surge in PEPE’s value is part of a broader resurgence in memecoin interest, with PEPE itself seeing an 800% increase in its value over the past month.
This has elevated it to the third largest memecoin by market capitalization, at $3.85 billion, reflecting a robust growth in trading volume and market activity.
Despite a slight dip from its all-time high, the community remains optimistic about PEPE’s position as a leading memecoin in this bull run, underscoring the continued fascination and confidence in the potential of memecoins within the cryptocurrency market.
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On March 13, just before the Wall Street trading session commenced, Bitcoin achieved a new milestone in price discovery, demonstrating a bullish edge over selling pressures.
This achievement was recorded with Bitcoin reaching unprecedented highs of $73,679 on Bitstamp, as per data provided by Cointelegraph Markets Pro and TradingView.
Following a slight pause in its upward momentum the previous day, where Bitcoin stabilized near $72,000 and momentarily dipped by $4,000, it swiftly rebounded, mirroring the early week’s market dynamics that initially restricted gains due to resistance.
According to CoinGlass, resistance at $73,800 briefly capped further advances. However, the path towards $80,000 appeared largely unobstructed, a sentiment supported by minimal liquidation levels.
Jelle, a renowned trader, noted on X (formerly Twitter), “Bitcoin wiped out overleveraged longs, retested the 2021 cycle high & then bounced back to $72,000,” indicating a positive outlook for continued upward movement.
Tedtalksmacro, a financial analyst, highlighted the significant surge in institutional investments surpassing previous records, even considering the introduction of new spot Bitcoin ETFs in the United States.
READ MORE: Grayscale Proposes New Bitcoin Mini Trust to Offer Tax-Efficient Investment Option
He shared with his X audience, “Fund inflows like we have never seen before. It makes 2020 look small… price will continue to catch up over the coming months,” suggesting a steady ascent towards $100,000.
He cautioned that historically, a peak in these inflows often signals a critical juncture to exit the market within the following 2-3 months.
Record-breaking inflows were observed in the ETF sector, with a notable $1 billion of net contributions recorded on March 12. BlackRock’s iShares Bitcoin Trust was at the forefront of this influx.
BitMEX Research highlighted, “A record 14,706 BTC inflow on 12 March 2024,” underscoring the significant demand.
This influx represents a substantial fraction of Bitcoin’s newly-mined supply in 2024, estimated at around 65,500 BTC.
As of March 13, the combined holdings of the two largest ETFs, managed by BlackRock and Fidelity Investments, amounted to over 330,000 BTC.
This figure is quintuple the quantity of Bitcoin mined during the same period, illustrating the massive scale of institutional participation in the cryptocurrency market.
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Zap Protocol’s ZAP token has breached the $0.01 mark after surging 42% in the last 24 hours, according to CoinMarketCap data.
This comes just hours after Crypto Intelligence News predicted ZAP, which was trading around $0.007 at the time, to surge over $0.01 within “the coming days or even just hours.”
Looking ahead, ZAP token is well positioned to rally as high as the $0.02-$0.03 mark before the end of March, with a medium-term price target of between $0.20 and $0.45.
Zap Protocol now has a market cap of around $2.4 million, and the token is still more than 100x away from its all-time high, leaving it with plenty of room for growth amid the current bull market.
Bitcoin (BTC), meanwhile is up by around 3.2% over the last 24 hours, currently trading at slightly over $73,200.
The world’s largest cryptocurrency has been rallying as a result of high demand for the recently approved spot Bitcoin ETFs, and the BTC price has increased by over 9% in the last 7 days.
This has propelled the broader cryptocurrency market, with Shiba Inu (SHIB) posting strong gains in the first week of March, but trading sideways in recent days.
Over the last 24 hours, SHIB is up by 1.6%, according to CoinMarketCap data.
SHIB still has lots of upside potential, but with a market cap of $18.8 billion, it will take significant inflows for Shiba Inu’s price to generate a high double-digit increase.
2024 is off to a roaring start for the cryptocurrency market, with Bitcoin breaking the $72,000 barrier. In this buoyant market context, Web3 and its bubbling ecosystem are attracting all eyes. Investors are on the lookout for the nuggets that will make tomorrow’s headlines.
Token sales and launchpads, the nugget hunt is on!
A veritable breeding ground for innovative projects, token sales (Initial Coin Offerings or Initial Token Offerings) and launchpads are enjoying a spectacular resurgence in popularity. These stepping stones for crypto startups offer seasoned investors a golden opportunity to unearth future gems of this ever-changing universe.
Discover 5 high-potential projects, from decentralized finance, to gaming, that are likely to make a splash in the crypto community in 2024. Fasten your seatbelts, as we take you on a tour of tomorrow’s nuggets!
Ago, the all-in-one DeFi platform
Ago is an innovative DeFi platform that aims to democratize decentralized finance by offering a wide range of services within a single user-friendly application.
With Ago, users can access interest-bearing savings accounts, obtain crypto loans, carry out fiat currency transactions and benefit from advanced trading tools. All with an experience comparable to that of online banks, but in a truly decentralized way.
The AGO token is at the heart of the ecosystem, enabling decentralized governance of the platform, while offering its holders a return of 80% of the costs generated by all its services! With a limited issue of 300 million tokens and deflationary mechanisms, $AGO offers solid tokenomics to support Ago’s growth.
Supported by an experienced team, strategic partnerships and a successful $9 million fundraising campaign, Ago has what it takes to become a key player in decentralized finance. This is confirmed by its impressive 1000% growth in its user base by 2024.
For all those who wish to take advantage of the unique opportunities offered by the DeFi, Ago is definitely a platform to keep an eye on. With its ICO which will soon be coming to an end, only a few days left to secure your chips and take part in the adventure.
Trakx, revolutionizing Crypto-Index Trading
Trakx revolutionizes crypto-index trading by offering themed Crypto Trading Indices (CTIs) and customized solutions.
Registered with AMF (Autorité des Marchés Financiers in France), Trakx makes it easy to invest in baskets of cryptos with a single click such as cryptos for staking, the Metaverse, NFT collections, etc.
The platform offers many advantages, including:
- 24/7 access to CTIs
- Automatic portfolio rebalancing
- Rigorous component selection
- Optimized risk management
- Reduced costs
In addition, to reinforce its expertise and accessibility, Trakx has forged strategic partnerships with renowned players such as Lumrisk, MSCI and Vinter.
Recently, Trakx has launched three risk-adjusted ITCs (Curator, Balanced and Growth), which have performed well since their launch. Finally, a new Staking product category has been introduced, offering investors an opportunity to optimize their returns.
The platform is experiencing increasing adoption, with more than 1500 active users and several million dollars exchanged.
At the heart of the ecosystem Trakx is the $TRKX token, which offers its holders a range of advantages, such as :
- Discounts on trading fees
- Attractive referral programs
- Active participation in platform governance
- And much more…
Trakx has already raised $3 million and is aiming for a further $500,000 through several private rounds available to investors. A unique opportunity to take part in the adventure of a leader in the crypto-index trading industry.
Ouinex, transparency is the watchword
Ouinex stands as a beacon of transparency, setting the standard in the crypto exchange landscape.
Established in Paris in 2022, Ouinex caters to active traders, offering a transparent, fair, and secure platform with competitive transaction fees. Boasting a team with a wealth of experience in traditional finance, Ouinex defied market odds, securing nearly $4.5 million during the 2023 bear market.
What sets Ouinex apart is its unique proposition of allowing users to trade both cryptocurrencies and traditional assets through a single account. The $OUIX utility token, strategically designed, hints at a promising future for the platform, aiming to reach 75,000 users by mid-2025.
With recent success in obtaining a Polish license, Ouinex continues its journey towards regulatory compliance, with plans for further licensing in the pipeline. The team is diligently working on expanding its regulatory approvals both in Europe and Globally, ensuring a seamless and compliant trading experience.
Metafight, MMA in the age of blockchain
MetaFight shakes up the blockchain gaming industry by offering an unprecedented immersive experience in the world of mixed martial arts (MMA). Thanks to its cutting-edge technology, MetaFight bridges the gap between the virtual world of fighter cards and real athletes in the sport of MMA, offering a resolutely innovative gaming experience.
By taking part in epic clashes and daring challenges, players have the chance to win tempting rewards and see the value of their cards soar on the market.
The potential of MetaFight recently attracted the attention of Animoca Brands, a heavyweight in the blockchain gaming industry. This providential investment will enable MetaFight to step up a gear by accelerating the development of its platform and launching an improved version of the game as early as 2024.
This new version of MetaFight game promises an unprecedented MMA gaming experience, featuring a Management Card Game (card management game). Players will be able to discover all-new features and enjoy an optimized user experience, for total immersion in the world of mixed martial arts.
With its innovative concept, its strategic partnership with Animoca Brands and its ability to meet the growing demand for blockchain-based games, MetaFight has what it takes to establish itself as a major player in this rapidly expanding market. MMA fans and enthusiasts of blockchain games have plenty to look forward to when they discover the new version of MetaFight in 2024.
MyLovely Planet, playfully saving the planet
Sponsored by Ubisoft and Unity, MyLovely Planet revolutionizes gaming by skilfully combining entertainment and environmental commitment. The concept is simple but effective: every ecological action carried out in the game (planting a tree, cleaning up waste) is reproduced in the real world.
Already boasting a community of 20,000 monthly players, MyLovely Planet is aiming for 100 million users by 2030. Its objective: plant 1 billion trees, clean up the oceans and save endangered species.
The game won the Unity For Humanity award for its positive impact. With 3 million euros raised and the support of renowned investors, the project has plenty to appeal to eco-friendly gamers.
To finance its development and increase its visibility, My Lovely Planet is currently selling $MLC tokens. Given the potential and scope of the project, it is highly likely that the price of this token will soar in the coming months.
Conclusion:
From a next-generation exchange platform to an eco-friendly video game, from DeFi to the sports metaverse, Web3 projects continue to push the boundaries of innovation. Although they involve a degree of risk inherent in crypto-investment, these new players could well make their mark in 2024. Provided, as always, that you invest with discernment and a long-term vision. Only time will tell which will come out on top.
Starknet, a prominent Layer-2 scaling protocol, is set to enhance the benefits of reduced costs for rollups following the Dencun hard fork on Ethereum, scheduled for March 13.
The Starknet Foundation has unveiled plans for additional fee-reduction measures that will align with the Dencun upgrade, marking a significant evolution in Ethereum’s infrastructure since its transition to proof-of-stake in October 2022.
The Dencun upgrade, featuring the Ethereum Improvement Proposal (EIP-4844), is poised to revolutionize the way Ethereum rollups store data on the mainnet.
It introduces “blob space” as an alternative to the traditional use of call data for storage, addressing the high costs associated with the latter due to the perpetual on-chain processing requirement by all Ethereum nodes.
This new approach, known as proto-danksharding and inspired by its proposers, allows for more economical data storage in blocks without permanent accessibility or processing by the Ethereum Virtual Machine, with data automatically expiring after 18 days.
David Silverman, Vice President of Product at Polygon Labs, has emphasized the significant cost advantages and maintained security guarantees of this method for rollups.
READ MORE: Arbitrum to Release $2.32 Billion in Vested Tokens, Sparking Market Speculation
As Starknet anticipates immediate fee reductions, there may be initial delays as layer-2 solutions adjust their contracts to utilize the new blob space.
In line with the Dencun hard fork, Starknet is preparing to release version 0.13.1, transitioning from the costly call data method to blobs for data transactions, promising substantial fee savings, given call data’s dominant role in Starknet’s gas expenditures.
Ilia Volokh, a StarkWare product manager and blockchain researcher, explained that Starknet’s SHARP prover, responsible for transmitting state differences to Ethereum, will adopt blob space, leading to a prompt reflection of fee reductions post-Dencun’s launch.
Volokh highlighted the immediate impact on users, stating, “A byte of data will be priced in accordance with Ethereum’s blob prices.”
Further boosting Starknet’s efficiency, a new hash system to be introduced in early 2024 will enhance the protocol’s transaction capacity through improved proof bundling technology.
This development underscores Starknet’s commitment to leveraging Ethereum’s evolving ecosystem to deliver cost-effective, scalable solutions.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Grayscale, a leading investment manager, has announced its intention to launch a smaller version of its Grayscale Bitcoin Trust, known as GBTC, through a new product dubbed the “mini” trust.
This new offering, aiming for a listing under the ticker symbol “BTC,” was introduced to the United States Securities and Exchange Commission (SEC) via an S-1 form on March 11.
Upon SEC approval, the Grayscale Bitcoin Mini Trust plans to make its debut on the New York Stock Exchange, operating independently from the original GBTC fund.
This innovative trust is designed to distribute shares to current GBTC investors, with an additional contribution of Bitcoin from GBTC itself, although the exact amount remains unspecified.
One of the main goals of this new trust is to provide GBTC shareholders with a tax-efficient method to gain exposure to Bitcoin.
Bloomberg ETF analyst James Seyffart elaborated on the benefits via a March 12 X post, stating, “There is no fee disclosed yet or what % of $GBTC will spin off but pretty sure this will be a non-taxable event for a chunk of those shares to get into a cheaper and cost-competitive product.”
READ MORE: Bitcoin ETFs Will Hold Over 10% of BTC Supply By Q3
The timing of Grayscale’s filing coincides with Bitcoin reaching a record-breaking high of $71,415 on March 11, following Ether’s significant milestone of surpassing the $4,000 mark earlier in the month.
In response to the flourishing cryptocurrency market, asset manager VanEck announced a fee waiver for its Bitcoin Trust ETF, applying to the first $1.5 billion in funds through March 31, 2025, underscoring the competitive environment in the ETF space.
The broader ETF market is also witnessing significant activity, with U.S. spot Bitcoin ETFs achieving a historic $10 billion in daily trading volume on March 5.
This surge in activity surpasses the previous record set just a week earlier.
However, the SEC’s lack of communication regarding Ether-based ETFs has led to skepticism about their approval.
Senior Bloomberg ETF analyst Eric Balchunas expressed concerns about the prospects for Ether ETFs, noting, “The main thing is the fact that we’re 73 days from the final deadline, and there’s been no contact or comments from the SEC to the issuers.
“That’s not a good sign.”
This silence casts doubt on the potential approval of Ether-based ETFs by May, reflecting the regulatory uncertainties surrounding cryptocurrency investments.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
This month, Shiba Inu (SHIB) has seen a significant resurgence, capturing the attention of cryptocurrency enthusiasts with a 250% increase in value over just two weeks.
This rally recalls the meteoric rise of SHIB in October 2021 when it reached its peak at $0.00008845.
Crypto analyst Alan Santana has made a striking prediction on TradingView about SHIB’s trajectory, foreseeing an 822% price surge.
Santana’s analysis points to a breakout potential for SHIB, suggesting that its current price could be just the beginning of a substantial upward movement.
If SHIB follows Santana’s projection, its value could soar to a new all-time high of $0.00027, marking a significant milestone for the cryptocurrency.
Santana outlined several intermediate targets for SHIB, with prices ranging from $0.00000888 to $0.00001890, and recommended a buying range of $0.00000742 to $0.00000824.
READ MORE: MicroStrategy Bolsters Bitcoin Treasury With $800 Million Note Offering, Purchases 12,000 BTC
Despite SHIB having already surpassed these levels, Santana believes now is the opportune time to invest, as the currency aims for the $0.00027 mark, a target that surpasses predictions by other analysts.
It’s important to note that Santana’s forecast is intended for long-term investors, cautioning those looking for quick profits to tread carefully.
He emphasizes the importance of timing and patience for those engaged in leverage trading.
Currently, SHIB has experienced a minor downturn, with a 6% decrease in the last 24 hours and a 17% drop over the past week.
Despite trading 62.42% below its all-time high, according to CoinMarketCap data, the recent performance has reignited optimism for reaching new highs.
The Shiba Inu ecosystem, including developments like Shibarium, and bullish chart signals contribute to the positive outlook for SHIB.
These factors, combined with the current momentum, suggest that a new all-time high for SHIB might not be far off, offering promising prospects for the meme coin and its investors.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Lookonchain, a crypto surveillance platform, has disclosed concerning updates about the notorious Bitrue Drainer, an address linked to a significant security breach.
The entity behind a massive $23.5 million theft from Bitrue Exchange last year has made a considerable transaction, selling cryptocurrencies.
“The #Bitrue Drainer sold 4,207 $ETH for 16.34M $DAI at $3,885 8 hours ago.#BitrueDrainer stole $23.5M assets on April 14, 2023, including: 137,000 $QNT($17M) 46.4M $GALA($2M) 172.55B $SHIB($1.91M) 756M $HOT($1.54M) 318 $ETH($640K) 310,071 $MATIC($352K) Then sold 137,000 $QNT”
In a recent event, Lookonchain reported that the Bitrue Drainer exchanged 4,207 ETH for $16.34 million in DAI stablecoins, averaging $3,885 per ETH.
This move comes after the April 14, 2023, breach, where the hacker amassed a fortune in various cryptocurrencies, including 137,000 Quant (QNT), 46.4 million Gala (GALA), 172.55 billion Shiba Inu (SHIB), 756 million Holo (HOT), 318 ETH, and 310,051 Polygon (MATIC).
Post-theft activities saw the hacker actively selling stolen assets. Following the breach, 137,000 QNT were sold, fetching $14.74 million in Ethereum, which led to a more than 9% drop in QNT’s price within a few hours.
Subsequent sales included 46.4 million GALA for $1.86 million, 22.55 billion SHIB for $236K, and 310,071 MATIC for $343K.
These transactions were primarily converted into Ethereum.
Despite these sales, the Bitrue Drainer still possesses a substantial amount of digital assets, including 4,650 Ethereum, 150 billion SHIB, and 756 million HOT.
The combined value of these holdings is approximately $17.68 million, $4.7 million, and $2.9 million, respectively.
The original theft’s value was around $23.5 million, but due to recent market gains, the remaining assets’ value has significantly increased, surpassing the initial amount stolen.
This development suggests that the Bitrue Drainer continues to hold a fortune far exceeding the value of the originally stolen funds, despite the large-scale liquidations that have taken place.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Two prominent voices within the crypto community have recently made a call to action for their followers on X, emphasizing the urgency of acquiring Bitcoin, gold, and silver in the face of escalating U.S. national debt.
On March 11, Balaji Srinivasan, an entrepreneur and angel investor, took to X to express his view that Bitcoin represents a critical solution to counteract the challenges posed by rampant government expenditure and the threat of asset confiscation.
Highlighting the severity of the situation, Srinivasan, with nearly a million followers and a background as Coinbase’s former CTO, painted a grim picture of the current economic landscape, likening it to the decline of empires past due to treasury looting.
He pointed out the alarming growth in government debt, noting a 25% increase since 2020, bringing the total to a staggering $34.5 trillion.
Srinivasan, who also serves as a general partner at venture capital firm Andreessen Horowitz (a16z), outlined possible responses to this crisis.
These range from denial to attempting political solutions or succumbing to apathy.
However, he advocates for a more radical approach: leveraging Bitcoin to “starve the beast,” thereby limiting the government’s ability to confiscate or inflate currency.
He highlighted the current daily deficit spending of $10 billion as a sign of escalating problems.
READ MORE: Grayscale and Coinbase Meet with SEC to Push for Spot Ether ETFs
Echoing Srinivasan’s concerns, Robert Kiyosaki, author of “Rich Dad Poor Dad,” also advised on the importance of readiness, recommending investment in assets like Bitcoin for their value preservation qualities.
Kiyosaki’s post referenced the rapid increase in national debt, painting a bleak picture of America’s financial health.
Furthermore, Srinivasan warned of potential aggressive actions by a financially desperate state, such as asset confiscation.
He cited various international and domestic precedents where governments have taken control of private assets under different pretexts, underscoring the safety Bitcoin offers as an asset beyond state control.
In 2023, Srinivasan placed a significant bet on Bitcoin’s value skyrocketing due to U.S. hyperinflation.
His stance is particularly relevant as the U.S. prepares to release crucial economic data, including inflation rates, which could influence upcoming Federal Reserve decisions.
With interest rates holding steady at 5.5% since July 2023, the crypto community closely watches these developments, seeking refuge in decentralized assets amid financial uncertainty.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.