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Spot Bitcoin ETFs Amass Over 500,000 BTC, Signaling Strong Institutional Interest

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Since their launch on January 11, nine out of ten new spot Bitcoin exchange-traded funds (ETFs) have collectively amassed over 500,000 BTC.

This figure represents 2.54% of the total bitcoins currently in circulation.

Farside Investors reports that, after a significant day of trading on Thursday, these funds experienced inflows of $287.7 million in Bitcoin.

Consequently, the value of the Bitcoin held by these nine ETFs surged to $35 billion over the span of 54 trading days.

Cumulatively, all U.S.-based spot Bitcoin funds, including those managed by Grayscale, now control 835,000 BTC.

This stash accounts for nearly 4% of all bitcoins available, underscoring the growing influence of institutional investments in the cryptocurrency sector.

The trend towards ETF inflows has seen a resurgence this week, with a recorded $845 million entering the market.

This reverses a previous pattern of outflows that began on March 18.

READ MORE: Grayscale Maintains Optimism for May Approval of Spot Ether ETFs Despite SEC Engagement Concerns

Notably, on March 28, these ETFs witnessed inflows totaling $183 million, led by BlackRock’s IBIT fund, which alone attracted $95 million.

Other significant contributions came from Fidelity and Bitwise, each with inflows of approximately $67 million, and Ark 21Shares, which secured $27.6 million following a substantial $200 million influx on the preceding Wednesday.

Meanwhile, Grayscale’s GBTC fund recorded an outflow of $105 million, marking its lowest level since March 12.

Since transitioning to a spot ETF in mid-January, Grayscale has reduced its GBTC fund by approximately 284,846 BTC.

In a related development, Bitwise has initiated the process for launching a spot Ethereum ETF by filing an S-1 application with the Securities and Exchange Commission on March 28.

In response to this filing, ETF analyst Eric Balchunas expressed a cautious outlook, estimating the chances of approval for the ETH ETF in May at a pessimistic 25%.

He highlighted the lack of communication from the SEC as a concerning factor, noting that the silence could imply a lower likelihood of approval as the deadline approaches in seven weeks.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

How to Earn with Toncoin On its Popularity Peak?

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Toncoin is a phenomenon that has rocked the industry and received recognition from many crypto enthusiasts. This token has reached the peak of popularity and opened up many new opportunities for earning. According to CoinMarketCap statistics, its price has increased by 100% over the last month. What is the secret of such a meteoric rise? How can you take advantage of Toncoin to make money? This article will reveal the crucial aspects of earning with Toncoin and shed light on the patterns that made the coin the talk of the town.

What’s Toncoin & Its Role in the Crypto Industry?

Toncoin is the native cryptocurrency of The Open Network (TON), an innovative third-generation blockchain platform initially developed by Telegram in 2018. However, in 2020, Pavel Durov, the network’s founder, halted development and released the code publicly following legal proceedings. Despite this setback, the project persisted, buoyed by a dedicated community.

In 2021, the TON blockchain achieved a significant milestone by breaking the world speed record, processing an impressive 55,000 transactions per second. This remarkable feat underscored the project’s emphasis on high scalability and performance, significantly contributing to its widespread adoption. Notably, Toncoin, the native cryptocurrency of Telegram Open Network, experienced a surge in popularity, ranking 11th in the CoinMarketCap ranking by capitalization.

Toncoin serves various functions within the network, including facilitating transactions and enabling participation in protocol management. Toncoin’s success story serves as a beacon of inspiration for modern cryptocurrency projects seeking mass adoption. Despite regulatory challenges, Toncoin has persevered, continuing to evolve and attracting a growing community of crypto enthusiasts.

What is the secret of Toncoin’s popularity?

Toncoin stands on three unbreakable pillars that fuelled its popularity:

Telegram Messaging App 

The high value of Toncoin is attributed to its launch within Telegram’s ecosystem. Incorporating the Toncoin wallet into its widely adopted messaging app substantially motivated its expansion.

Advanced Technology

TON, built with a multi-level architecture, processes thousands of transactions per second. This advanced technology also has a vast potential for future improvements. Therefore, the speed and innovation were spread across crypto news as a novel record that caught users’ attention.

Strong Community Support 

Toncoin has cultivated a loyal and dedicated community of supporters who are actively engaging with the project. There are over 32,000 token holders and over 700,000 website visits per month of the TON website. 

Popularizing cryptocurrency is a complex process that begins with the token’s launch on the market and continues throughout its existence. Crypto projects offer multiple services, making devising a new solution more complicated. However, Toncoin’s team seems to have nailed it.

How to earn with Toncoin while it sets new ATHs?

New Toncoin price records are only a matter of time. While the token increases in value, you can manage its accumulation. There are several ways to earn Toncoin and use this currency to get crypto income.

  • Trading Toncoin: TON is listed on various crypto platforms and decentralized exchanges, such as OKX and Bybit. It can also be bought using Telegram bots and crypto wallets. However, there’s also a place to buy Toncoin with extra bonuses as a new user in a profitable iGaming niche with their swap systems. One of these platforms is BetFury, the leading crypto and iGaming ecosystem, which recently listed Toncoin. By purchasing Toncoin on BetFury, you can also experience an upgraded Welcome Pack with generous up to 590% on the deposit and 225 Free Spins. Find the promocode below to get the registration bonus.
  • Staking Toncoin: Several platforms offer Toncoin staking, and 21Shares has received the most attention recently. It launched an exchange-traded fund (ETF) pegged to Toncoin that tracks the asset’s price fluctuations and reinvests profits into staking. According to its website, 21Shares had around $7 billion in assets under management as of March 26.
  • Gaming with Toncoin: anyone can earn crypto by playing games. Toncoin has become a part of the iGaming industry by partnering with many entertainment projects. For example, the new game Catizen allows you to collect FISH and CATS tokens for upgrading your pets and speeding up the process using TON currency. Another example is BetFury, which has over 8,000 Slots and 20 Original games with up to 99.28% RTP for users to place bets in Toncoin. So, you can choose any exciting entertainment to earn more crypto with Toncoin.
  • Investing in Promising Projects: there is another way to earn crypto – searching for promising projects with drops and investments in technologies related to TON. One of the most popular is the Free TON blockchain from TON Labs. It’s another TON prototype with the native TON Crystal token, created based on Durov’s open-source code. Free TON developers have made useful applications and tools, such as the TON-Ethereum Bridge or the TON Surf wallet. Thus, investing in such projects can help you to reach your earning goals.

As you can see, TON is now at the peak of popularity. Toncoin is available for trading and is open to any investment opportunities. If you want to get Toncoin now, go to BetFury and buy it in a matter of seconds, along with crypto bonuses. The first 70 users to register on BetFury and enter the promo code TONCOIN by April 30th will receive 400 BFG on their bonus balance. Make an x40 wager playing on BetFury to claim your registration bonus and get a chance to win crypto while reaching the wager.

Which Factors to Consider Investing in Cryptocurrency?

Investing, staking, or trading cryptocurrency requires users to be cautious and attentive.  Keep in mind these aspects to avoid dangers.

  • DYOR: do research to find more suitable tools for earning crypto and study this area more deeply.
  • Stop-loss: pay attention to stop-loss orders to use them as a limit to potential losses.
  • News Tracking: stay updated on Toncoin news from official resources to always be within the information field.
  • Ensure Security: check for audits and install the necessary security measures for funds on the platform where you earn money.

Will Toncoin’s Price Go Up or Down in the Nearest Future?

Toncoin has potential solid and bright long-term prospects. Its price has almost doubled over the past month, which confirms this fact. The Open Network is already on track to compete with Bitcoin and Ethereum, offering lightning-fast transaction speeds and low fees. According to CoinCodex statistics, the price of Toncoin will range from $5.07 to $24.16 by 2025. These analysts rely on the historical price movement of the token, as well as the influence of the BTC Halving and other crucial events. The currency is unique and can become even more valuable soon. However, market volatility makes setting the exact Toncoin price prediction impossible.

Conclusion

The Open Network is a technological breakthrough that has boosted the cohesion of the crypto community. Toncoin’s fire has not gone out and will warm the wallets of all its owners for many years. Therefore, strive for maximum benefits with Toncoin on trusted crypto platforms.

Bitcoin Navigates Potential ‘Exhaustion’ Risk Amidst Q1 Surge, Eyes Bullish Q2 With Strategic Caution

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As the first quarter of 2024 draws to a close, Bitcoin is on the brink of reaching the end of Q1 with a 65% increase in BTC price, but faces the risk of “exhaustion.”

QCP Capital, a trading firm, alerted its Telegram channel subscribers on March 29, suggesting that the “exponential” rise in price could present challenges in the upcoming quarter.

The Bitcoin market is especially attentive this weekend as critical candlestick patterns—the weekly, monthly, and quarterly—are set to close simultaneously.

Despite Bitcoin’s strong performance at the start of the year, maintaining momentum around its all-time highs and establishing them as new support levels remains challenging.

QCP Capital, however, maintains a “very bullish” outlook for Q2, citing several factors that could fuel further growth.

These include ongoing demand for BTC spot ETFs, the upcoming BTC halving event, the introduction of London Stock Exchange ETNs, and the potential approval of an ETH spot ETF.

READ MORE: Bitcoin’s Market Dominance Poised for Growth, Predict Crypto Traders Amidst Ascending Triangle Pattern

The launch of spot Bitcoin ETFs in the United States in January marked a significant milestone, yet the firm cautions that the rapid pace of the Q1 rally may be hard to sustain due to signs of market fatigue.

QCP Capital expressed concerns over declining interest in Ether, the largest altcoin, and the high funding rates persisting across trading platforms.

Despite a generally optimistic stance, the firm advises caution with leverage and readiness to capitalize on significant price dips.

Recent data from Cointelegraph Markets Pro, TradingView, and CoinGlass confirms that the BTC/USD pair has seen a 65.4% increase since the beginning of the year, closely competing with the performance in the first quarter of 2023.

A close significantly above $61,000 would mark the seventh consecutive month of gains for BTC/USD, a feat only previously achieved in 2012.

This delicate balance of potential and caution defines the current state of Bitcoin as it navigates the complex dynamics of the cryptocurrency market entering Q2 2024.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Fake Token Mimicking Ethena Labs’s ENA Causes $290,000 Loss in Binance Exploit

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In a recent security breach on the Binance launch pool, an imposter token masquerading under the same name as Ethena Labs’s ENA token was exploited, leading to a significant loss.

The fake token was used to unlawfully extract 480 BNB tokens, valued at approximately $290,000. The exact vulnerability that allowed this exploit remains unknown.

The incident was first reported by PeckShield, an on-chain security firm, at 8:31 am UTC on March 29. The firm initially misidentified the counterfeit token as Ethena Labs’s genuine ENA token in a post on X.

This deceptive operation occurred just hours after Ethena Labs‘s ENA token was officially announced on the Binance Launchpool on the same day, causing confusion among investors and stakeholders.

This incident follows the successful launch of Ethena Labs’s USDe synthetic dollar on the public mainnet on February 19.

By March 8, Ethena had distinguished itself as the top-earning decentralized application (DApp) in the cryptocurrency sector, promising investors an annual percentage yield (APY) of 67%.

Although the exploit involving the counterfeit ENA token is relatively minor in comparison to other cryptocurrency thefts, it occurred closely following the Prisma Finance hack on March 28, which resulted in losses exceeding $11 million.

READ MORE: Grayscale Maintains Optimism for May Approval of Spot Ether ETFs Despite SEC Engagement Concerns

These events underscore the ongoing challenges and security vulnerabilities within the crypto industry, which have historically undermined investor confidence.

Throughout 2024, over $200 million in cryptocurrency assets have been compromised across 32 separate incidents up to February 29, as reported by blockchain security firm Immunefi.

This figure represents a 15.4% increase from the losses recorded in January and February 2023, which totaled $173 million.

The cryptocurrency sector experienced significant losses due to hacking activities in 2023, with a total of $1.8 billion stolen.

The North Korean Lazarus Group was responsible for approximately 17% of these losses.

The “2024 Crypto Crime Report” by Chainalysis highlighted that 2022 was a peak year for crypto theft, with over $3.7 billion in funds stolen, demonstrating a substantial decrease to $1.7 billion in 2023.

The report attributed the decline primarily to a reduction in decentralized finance (DeFi) hacking incidents, with the total value stolen from DeFi platforms dropping by 63.7% year-over-year.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Google Unveils Multi-Blockchain Wallet Search Feature, Sparking Privacy Debates

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Google has taken a significant leap in enhancing user experience by integrating the ability to search for wallet balances across various blockchains, including Bitcoin, Arbitrum, Avalanche, Optimism, Polygon, and Fantom.

Users can now effortlessly input a wallet address and receive detailed information on token balances by network and the latest update time.

This feature supports three Bitcoin address formats — P2PKH, P2SH, and Bech32 — enabling users to check current balances and recent transactions seamlessly.

This integration of Bitcoin data into Google’s search results marks a significant advancement in making on-chain activity more accessible, leveraging Google’s massive daily search traffic.

Although this development has been met with applause for promoting mainstream adoption, it has also sparked privacy concerns among Bitcoin enthusiasts who prioritize privacy, due to fears over centralized data aggregation.

Following its introduction of Ethereum Name Service (ENS) domain search capabilities, Google’s new feature represents a continued expansion of its blockchain-related services.

Users can now search for wallet balances using easily recognizable domain names, such as “vitalik.eth” for Ethereum wallet addresses.

This update builds on Google’s initial steps toward embracing the crypto world, starting with Ethereum wallet balance searches in May 2023 and the integration of a feature in 2022 that tracked some Ethereum wallet balances directly through Google, bypassing the need to visit Etherscan.

READ MORE: Driving Cats NFT Club Drop Begins in Challenge to SHIB, BONK, PEPE and DOGE

The progression in Google’s approach is notable, from banning Bitcoin-related advertisements in 2018 to its recent reversal, which now welcomes advertisements for spot Bitcoin exchange-traded funds (ETFs) following their U.S. approval in January.

This change has allowed ETF offerings from prominent asset managers like BlackRock to feature in Google’s search results.

Moreover, in October 2022, Google’s partnership with Coinbase enabled customers to pay for cloud services with cryptocurrencies, demonstrating Google’s growing embrace of digital currencies.

Furthermore, Google has shown its support for significant events in the crypto world, such as the Ethereum Merge, by featuring themed animations, and has partnered with Web3 startup Orderly Network in 2023.

This collaboration aims to develop user-friendly developer tools for decentralized finance (DeFi), addressing some of the main challenges within the DeFi ecosystem, including entry barriers and security concerns.

This series of initiatives highlights Google’s evolving relationship with the cryptocurrency and blockchain technology, positioning it as a key player in the bridge between mainstream users and the decentralized digital world.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

BlackRock Spearheads Billion-Dollar U.S. Treasury Tokenization Wave Across Major Blockchains

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The recent surge in the tokenization of U.S. Treasurys, exceeding $1 billion across various blockchains like Ethereum, Polygon, and Solana, has been significantly influenced by the introduction of BlackRock‘s USD Institutional Digital Liquidity Fund.

Launched on March 20 on Ethereum, the fund, known by its ticker “BUIDL,” has quickly reached a market cap of $244.8 million.

This growth was propelled by four substantial transactions totaling $95 million within a week, placing BUIDL as the second-largest fund of its kind, just behind Franklin Templeton’s Franklin OnChain U.S. Government Money Fund (FOBXX) which leads with $360.2 million in assets.

This milestone of over $1 billion in tokenized U.S. Treasurys is spread across 17 distinct products, demonstrating the expanding reach of this financial innovation.

The largest recent contribution to BlackRock’s fund came from Ondo Finance, which added $79.3 million. This deposit is part of Ondo’s strategy to facilitate instant settlements for its U.S.

Treasury-backed token, OUSG, making it a substantial player with a 38% stake in BUIDL. This move was highlighted by Tom Wan of 21.co, marking a significant step in the fund’s growth.

READ MORE: Shiba Inu’s Price Surges 7% Amid Bullish Market Recovery, Dogecoin20 Set for Explosive Launch Following $10 Million Presale

BlackRock’s BUIDL operates with a 1:1 peg to the U.S. dollar, offering investors daily accrued dividends paid monthly. Its launch utilized the Securitize protocol on Ethereum, reflecting the broader industry trend towards blockchain-based efficiencies.

BlackRock CEO Larry Fink and others in the sector see tokenization as a pathway to more streamlined capital markets, with predictions suggesting a potential market size of $16 trillion by 2030.

This innovation is not limited to government securities; a wide array of assets including stocks and real estate are also being tokenized, with Ethereum hosting $700 million of the total real-world assets (RWA) on-chain.

Tokenization efforts extend beyond traditional asset management firms, with Franklin Templeton utilizing Stellar and Polygon for FOBXX, reflecting a diverse ecosystem of platforms supporting tokenized products.

This growing sector includes both established financial institutions like WisdomTree and blockchain-native companies such as Ondo Finance, Backed Finance, and others, illustrating a broad and multi-faceted approach to incorporating real-world assets into the digital blockchain space.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Bitcoin ATM Network Poised for Global Expansion Ahead of Halving Event, Says Industry Leader

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The global network of Bitcoin ATMs is poised for rapid expansion, spurred by the anticipation of the Bitcoin halving event, as stated by the chief of a leading ATM provider.

This prediction comes after a significant drop in crypto ATM installations in 2023, marking the first decline in a decade, attributed to a bear market intensified by the failure of several cryptocurrency firms.

Brandon Mintz, CEO of Bitcoin Depot, highlighted an encouraging start to 2024, with 1,469 new crypto ATM installations in the first quarter alone.

This is a stark contrast to the previous year when over 3,000 units were removed. Mintz expressed optimism for continuous growth in the industry, especially with Bitcoin experiencing remarkable performance, having surpassed its all-time high twice in March.

According to Mintz, the latter stages of bull markets often witness a surge in cryptocurrency adoption, which in turn boosts customer traffic to Bitcoin ATMs.

He anticipates this trend to escalate post-halving, an event set for late April that reduces Bitcoin mining rewards by half.

Historical patterns suggest that the halving leads to a substantial price increase and heightened investor interest.

Despite the recent increase in ATM installations, the industry has seen a reduction in operators over the last 18 months, with notable bankruptcies such as Coin Cloud’s.

READ MORE: Bitcoin Behemoth Transfers Over $6 Billion, Signaling Institutional Investors’ Growing Faith in Crypto Ahead of Halving

Mintz attributed this downturn to the broader crypto market’s challenges, especially following the collapse of the FTX exchange.

Bitcoin Depot reported a 7% increase in annual revenues to $689 million, although net income saw a significant decline.

The company is expanding its ATM network in the U.S., planning hundreds of new installations across convenience stores in 24 states.

The U.S. dominates the global distribution of crypto ATMs, hosting over 83% of the world’s total.

Recent regulatory approvals, like spot Bitcoin ETFs, have been seen as potential growth drivers for the sector, although Mintz views Bitcoin ATM users and ETF investors as distinct customer groups.

He underlined the importance of Bitcoin ATMs for people who are underbanked or prefer cash transactions, contrasting them with the typically wealthier ETF buyers.

Mintz believes that any positive impact of ETFs on Bitcoin’s price and adoption will likely increase the usage of Bitcoin ATMs, benefiting the industry overall.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Xterio to Launch Gaming-Oriented Blockchain in Collaboration with AltLayer, aiming for Wider Web3 Gaming Adoption

Singapore, Singapore, April 4th, 2024, Chainwire

Xterio, a leading Web3 gaming publisher and platform, and AltLayer, an open and decentralized protocol for launching native and ZK rollup stacks, have announced the launch of a game-focused restaked rollup designed specifically for Web3 games.

Xterio is a Web3 gaming ecosystem & infrastructure, distinguishing itself as a gaming publisher with top-notch development skills, unparalleled distribution expertise, and over $80M raised in ecosystem funding. With five AAA games and over 45 gaming partners, Xterio has amassed a gaming community of over two million users worldwide and developed the most successful gaming NFT launchpad. Co-founded by industry veterans like Michael Tong, former COO of NetEase and CSO of FunPlus, and Jeremy Horn, former Vice President of Jam City, Xterio is committed to accelerating the integration of Web3 technology into gaming and onboarding billions of gamers.

The Xterio chain will be run and managed by AltLayer. It will operate as a Layer 2 settling on Ethereum and utilize the OP Stack as the rollup framework with EigenDA as the Data Availability (DA) layer. Unlike a classical rollup, Xterio chain will instead take the form of a “restaked rollup”, a framework pioneered by AltLayer. As a restaked rollup, the Xterio chain will come with MACH – an Actively Validated Services (AVS) offering faster finality with economic security by leveraging EigenLayer’s restaking mechanism. The rollup will focus on web3 and AI-powered games, with plans to build an on-chain ecosystem around AAA games leveraging the $XTER token.

In addition to being integrated across multiple Xterio titles, the Xterio chain will act as the backbone of the Xterio ecosystem, offering a gateway to a vibrant gaming ecosystem and empowering players to effortlessly collect, own, and trade digital assets in a safe and accessible environment and allowing developers to mint, distribute, and manage millions of assets seamlessly. The chain, alongside the comprehensive Xterio tech platform, intends to make on-chain elements almost invisible thanks to account abstracted wallets, seamless off-chain and on-chain systems, cheap transactions, single-click purchases, flexible payment marketplace and launchpad, and more. In addition to facilitating transactions, the Xterio marketplace and NFT launchpad will embrace the Xterio token as a versatile payment method, accepted for both purchases and gas fees, ensuring a smooth and convenient user experience. 

Looking ahead, the Xterio chain will open its doors to game developers seeking a sophisticated yet user-friendly solution to power their creations. Through the Xterio chain, developers will have access to the most extensive first-party gaming catalog in Web3 and tap into its over 2 million user base, which is currently rapidly growing.

With its promise of easy integration and cutting-edge capabilities, the Xterio chain stands ready to drive the future of gaming.

Yaoqi Jia, CEO of AltLayer, said: “Xterio serves as a robust, highly respected platform to its numerous, highly-regarded content partners in the gaming space. As the nature of gaming evolves and calls for higher-performing game mechanics, game economics, and in-game transactions grow, we’re delighted that Xterio has embraced rollups to strengthen its products’ technical capabilities. With AltLayer’s novel restaked rollup product MACH, Xterio will also enjoy security and much faster finality features built using EigenLayer’s restaking mechanism that will ultimately underpin a better gaming experience to benefit developers and players alike.” 

Michael Tong, CEO of Xterio, expressed: “Through our collaboration with AltLayer, Xterio is spearheading the development of a cutting-edge blockchain infrastructure to fuel our Web3 gaming titles and extending its availability to partners and collaborators. By harnessing the expansive ETH ecosystem and addressing critical user concerns like gas fees and rapid transaction finality, Xterio is poised to emerge as a frontrunner in high-quality Web3 and beyond.”  

Highly regarded for its on-chain gaming capabilities by industry bigwigs, this Binance Labs-backed platform is now building out its game and technology functions, including artificial intelligence (AI) integration and token launch.  

About Xterio

Xterio Foundation in Switzerland was founded with a council and by a team of technology and entertainment leaders with deep game development and publishing experience. Its mission is to develop, publish, and distribute high-quality Web2 and Web3 games and interactive entertainment. 

Xterio is committed to accelerating the integration of Web3 technology into gaming and AI. This commitment simplifies the experience for developers and players, facilitating the widespread adoption of decentralized gaming and digital ownership. Xterio, together with its partners, operate the first gaming rollup with the latest MACH technology and one of the best launchpads for games and marketplaces. Recently, the Xterio platform has successfully launched NFT sales in Overworld, Age of Dinos, Persona, Army of Fortune, and more.

The Xterio platform is developing five first-party titles powered by $XTER. Each is led by genre experts and supported by talented teams from renowned entities like FunPlus, Riot, Tencent, and Epic.

To learn more, users can visit xter.io and follow along at @XterioGames.

About AltLayer

Founded in 2021, AltLayer is an open and decentralized protocol for rollups. AltLayer is known for its novel product – ‘restaked rollups’ – which supplements existing rollups with better security, decentralization, fast finality, and interoperability.

Built atop its protocol is a Rollups-as-a-Service (RaaS) launcher, a hassle-free platform allowing developers and beginners to spin up a customized rollup within 2 minutes! This product is designed for a multi-chain and a multi-VM world.

Together, these products form the bedrock of a modular blockchain ecosystem – home to hundreds of thousands of rollups that can accelerate scaling for any Web3 application. They can help save considerable capital, reduce years of development work for teams, encourage innovation, and fast-track experimentation while being fully open and permissionless.

Industries spanning the NFT sector, Web3 gaming, DeFi, real-world asset tokenization, and others leverage these rollups to scale their applications. AltLayer supports major stacks, alternative DA layers, and shared sequencers, including OP Stack, Arbitrum Orbit, Polygon CDK, ZK-rollup, Celestia, EigenDA, Avail, Espresso, and more.

Alter invites users to join its community: Twitter | Discord | Official Website

Contact

Xterio Team
press@xter.io

XRP Token’s Market Valuation Soars, Nearly Doubling Nvidia’s Despite Legal Hurdles

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The XRP token, with a price-to-sales ratio of 61.689, stands out for its valuation nearly double that of Nvidia’s ratio of 37, reflecting a stark contrast in the investment attractiveness of these two entities.

This metric, which offers insight by dividing market capitalization by total sales over the last year, positions XRP in a unique light compared to Nvidia, one of the most actively traded stocks.

In 2023, the Ripple XRP ledger saw over $583,000 in network fees, as reported by Messari.

In stark contrast, Nvidia’s revenue reached $26.97 billion, as highlighted in its fiscal report for the same year.

Despite these differences, the XRP token experienced a slight increase of 0.15% in its price to $0.6205, boasting a market capitalization of $34 billion, per CoinMarketCap.

Meanwhile, Nvidia’s shares saw a slight decline of 0.49% in pre-market trading, setting its price at $898.25, based on Yahoo Finance data.

Nvidia, standing as the top semiconductor chip manufacturer globally and the third-largest company by market cap at $2.25 trillion, reported a significant 265% revenue increase year-on-year.

READ MORE: Surge in Investor Confidence: U.S. Spot Bitcoin ETFs Attract $418 Million in One Day, Led by Fidelity and BlackRock

This surge is attributed to the escalating demand for artificial intelligence (AI) equipment globally.

The XRP token, on the other hand, marked a 20.55% price increase over the past year. Nvidia’s shares soared by over 241%, driven by the heightened demand for semiconductor chips essential for advanced AI models.

However, XRP’s growth faces challenges, notably the lawsuit initiated by the SEC in December 2020 against Ripple, alleging unregistered securities offerings through XRP sales.

The legal landscape for XRP saw a notable development in July 2023, with Judge Analisa Torres ruling that XRP is not a security, except when sold to institutional investors.

This nuanced legal stance stems from the Howey test criteria.

In a March 25 court filing, the SEC proposed a $1.95 billion civil penalty against Ripple for its alleged defiance of the law regarding XRP sales, underscoring the ongoing legal challenges that Ripple faces.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

EigenLayer on Bitcoin, StakeLayer Announced The Pre-Sale Distribution

London, UK, April 4th, 2024, Chainwire

StakeLayer, a Pioneer in Bitcoin L2 Restaking solutions, has announced the pre-sale distribution of $STAKE, the native token powering their platform. This pre-sale marks a significant milestone in StakeLayer’s mission to unlock the potential of DeFi for Bitcoin users.

$STAKE serves as the backbone of the StakeLayer ecosystem, enabling a diverse range of DeFi activities on the Bitcoin network. 

The pre-sale offers an opportunity for early adopters to invest in $STAKE before it opens for public trading at the Token Generation Event scheduled for Q2 2024

Users can find more details about the Pre-sale here.

StakeLayer introduces a revolutionary EigenLayer for Bitcoin. This new Layer 2 solution introduces Restaking for Bitcoin holders, poised to transform user interaction with Bitcoin. 

The Path To the Future

Similar to the EigenLayer on Ethereum, StakeLayer utilizes a restaking mechanism for Bitcoin. This enables Bitcoin holders to potentially earn additional rewards on their holdings by participating in Proof-of-Stake activities on various applications built on Bitcoin’s Layer 2.

$STAKE Tokenomics presented below, 20% is allocated for the Presale distribution.

Potential Benefits of StakeLayer

  • Increased Capital Efficiency: StakeLayer allows Bitcoin holders to potentially earn additional rewards on their holdings, improving capital efficiency.
  • Enhanced Security: The restaking mechanism has the potential to contribute to the overall security of the Bitcoin ecosystem.
  • Innovation Opportunities: StakeLayer opens doors for developers to build new applications on Bitcoin’s L2 that leverage PoS functionalities.
  • Stakelayer is announcing new updates and is set to launch their platform soon, for more details users can visit StakeLayer’s telegram community. 

About Stakelayer

StakeLayer presents a novel approach to unlocking new functionalities for Bitcoin, introducing a revolutionary EigenLayer on Bitcoin. By introducing restaking on Bitcoin’s L2, it opens doors for increased capital efficiency, potential security benefits, and a wider range of applications built on the Bitcoin network.

While the project is still in its early stages, StakeLayer’s unique features hold promise for the future of Bitcoin and its integration with the evolving DeFi landscape.

Contact

Sam Viden
contact@stakelayer.io

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