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JPMorgan CEO Jamie Dimon’s Criticisms of Bitcoin Spark Speculation Within Crypto Community

The cryptocurrency community has brushed off the recent remarks made by JPMorgan CEO Jamie Dimon during an interview on CNBC.

Dimon’s repeated criticisms of Bitcoin, which included debunked claims about its creator, Satoshi Nakamoto, returning to “erase” the cryptocurrency, as well as allegations that Bitcoin “does nothing” and has criminal use cases, have raised suspicions within the crypto community.

Some members of the community speculate that Dimon’s constant negative statements about Bitcoin may be an attempt to manipulate its price.

On Reddit, one user suggested that Dimon’s influence over older investors could be leveraged to drive down the price of Bitcoin, allowing him to accumulate more cryptocurrency at a lower cost.

However, opinions within the community vary. Some believe that Dimon is simply uninformed about Bitcoin, while others think he may be strategically acquiring Bitcoin in anticipation of the upcoming halving event, which many believe will drive up the cryptocurrency’s price.

Dimon’s suggestion that Satoshi Nakamoto could return to “erase” Bitcoin is widely regarded as flawed due to the decentralized nature of the cryptocurrency.

Nonetheless, a community member proposed the alternative theory that Nakamoto might choose to sell their Bitcoin holdings, which some consider to be a more plausible scenario than Dimon’s idea.

Interestingly, while Dimon continues to criticize cryptocurrencies, it’s worth noting that JPMorgan, the company he leads, is actively involved in the cryptocurrency space.

JPMorgan Securities was named as one of the authorized participants for BlackRock’s recently approved spot Bitcoin exchange-traded funds (ETFs) in the United States.

This move drew criticism, as it appeared contradictory for Dimon to make anti-crypto comments while his company was embracing cryptocurrency-related ventures.

In conclusion, Dimon’s negative remarks about Bitcoin have sparked speculation within the crypto community regarding his motivations.

While some believe he is attempting to manipulate the market, others think he may be positioning himself for potential gains from the upcoming halving event.

Regardless of his statements, the involvement of JPMorgan in cryptocurrency-related initiatives adds an intriguing dimension to the situation.

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Lif3 Accelerates DeFi Adoption and Innovation with BitFinex Listing

Press Releases

Roadtown, British Virgin Islands, January 25th, 2024, Chainwire

Followed by LIF3’s Token Migration to Ethereum Network for Enhanced Market Accessibility

Today, $LIF3 (pronounced Life), a ground-breaking and complete omni-chain DeFi Layer-1 Curated Blockchain ecosystem, announces its recent listing on Bitfinex (https://trading.bitfinex.com/t/LIF3:USD), a premier digital asset trading platform, after recently migrating to the Ethereum Network from Fantom.

This announcement coincides with Lif3’s vision and commitment to breaking down barriers to cryptocurrency, enabling easier adoption for consumers entering DeFi, through the Lif3 Mobile App. Lif3 provides a platform for exclusive event access, on-ramping, investing, trading, earning, gaming, and off-ramping.

Bitfinex Listing

The Bitfinex listing allows for professional traders to trade $LIF3 through a top tier exchange.

Deposits for LIF3 will commence on January 23, 2024, at approximately 1:30 PM UTC. Trading is scheduled to start on January 25, 2024, at approximately 3:30 PM UTC, with LIF3 being tradable against US Dollars (LIF3/USD) and Tether tokens (LIF3/USDt).

“The addition of LIF3 to our offerings is a significant step in our commitment to embracing innovative financial solutions. LIF3’s features include crypto swapping, yield farming, and a secure mobile wallet”, said Henry Child, Head of Tokens.. “This listing underscores our commitment to advancing the DeFi space with cutting-edge solutions,” he added.

To obtain access to $LIF3 on Bitfinex, customers can visit: https://trading.bitfinex.com/t/LIF3:USD

Ethereum Migration

The Lif3 protocol has recently migrated to Ethereum from Fantom Network. This move is not just a change of platform but a leap towards broader market accessibility and ease of trading of the $LIF3 token. According to the team behind Lif3, the transition simplifies the purchasing process for users, enabling easier acquisition of LIF3, and paves the way for Lif3’s further expansion.

The migration to Ethereum also marks a new chapter in Lif3’s journey. It represents a move towards a platform with a more extensive user base, offering increased exposure and potentially higher transaction volumes. This shift is about harnessing the strengths of Ethereum’s ecosystem, providing Lif3 users with easier methods of acquiring $LIF3 and improved reliability, crucial for DeFi transactions.

“This Bitfinex listing in addition to the migration to Ethereum will expand Lif3.com and its market accessibility while enhancing efficiency in cryptocurrency transactions through consumer DeFi, unlocking more opportunities within the dynamic world of decentralised finance and beyond. We are not only excited for the recent migration to Ethereum, in addition to being available on Fantom, BNB Chain and Polygon – but also opening up a larger market and simplifying the purchase process for users, particularly in acquiring mainstream tokens like USDT and ETH”, says Kean Laurens, Head of Product.

“The early stage of DeFi adoption presents unique challenges, including the complexity of swapping, staking, and bridging various chains. Recognizing Ethereum’s widespread recognition and trust factor, Lif3 aims to reduce entry barriers and foster a smoother transition into its ecosystem. Lif3 was conceived with a clear mission to make DeFi interactions and investments seamless and safe, especially for newcomers. Our visionaries in the crypto realm identified a need to simplify the on-ramping process and offer a unified platform for various DeFi activities,” emphasises Kean.

Lif3 Ecosystem

Lif3.com is a complete, omni-chain DeFi ecosystem, Curated Layer-1 blockchain, and a self-custody wallet available on the App Store and Google Play – unlocking the potential of Web3 through consumer DeFi, iGaming and the Entertainment Sectors.

Now available on multiple blockchains: Ethereum, Polygon, BNB Chain, and Fantom – Lif3 offers a comprehensive suite of DeFi products that transcends beyond a mere platform and an entire curated ecosystem.

The ease of use for consumer DeFi, broader market accessibility and adoption are some of the key missions for Lif3. Through the use of a consumer focused and easy to use DeFi wallet, this results in a heightened efficiency in cryptocurrency transactions, signifying a quantum leap for both Lif3 and the future of digital finance in the Web3 space.

“As an investor and Lif3 enthusiast, I am thrilled Lif3 is officially listed on Bitfinex, a renowned platform that shares Lif3’s commitment to innovation and excellence in addition to the Layer Zero partnership, in supporting the migration to the Ethereum Network. This listing signifies a crucial quantum leap in providing increased visibility and accessibility to a broader audience of investors and other Web3 enthusiasts alike, for a more seamless experience in using blockchain. As the Lif3 ecosystem continues to advance its mission in reshaping the future of finance, this announcement is poised to catalyse further growth and innovation,” says Harry Yeh, Managing Director of Quantum Fintech Group.

Esports Tournament Supercup.gg

Lif3.com is also pleased to announce that Lif3 has teamed up with MetaNews and acquired an official licence by Krafton for the PUBG mobile tournament Super Cup, this falls in line with its vision to expand its reach and adoption with the esports user base. The competition will kick off on January 26 and is set to run until January 29, 2024.

The Lif3 ecosystem includes an architecture for esports which will bridge the gap from antiquated payment processors which cannot satisfy the need for micro-payments required for esports to operate in Web3 between amateur gamers, fans and their favourite esports organisations.

To learn more, visit https://supercup.gg/

About LIF3.com

Lif3.com is a complete, omni-chain DeFi ecosystem, Curated Layer-1 blockchain, and a self-custody wallet available on the App Store and Google Play – unlocking the potential of Web3 through consumer DeFi, iGaming and the Entertainment Sectors. To learn more, visit https://lif3.com

Twitter:

https://twitter.com/Official_LIF3

Lif3 News and Updates:

https://lif3.com/news

How to Buy LIF3 with ETH or USDT on Ethereum:

https://support.lif3.com/hc/en-us/articles/8874195179279-How-to-Buy-LIF3-with-ETH-or-USDT-on-Ethereum

For official LIF3 logos and branding please visit:

https://docs.lif3.com/brand-assets

Media Contact

media@lif3.com

About Bitfinex

Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.

Bitfinex to List Lif3:

https://blog.bitfinex.com/media-releases/bitfinex-to-list-lif3/

For official Bitfinex logos and branding:

https://www.bitfinex.com/press/#press-downloads

About LayerZero Labs

LayerZero Labs is the team that launched the leading blockchain messaging protocol LayerZero. LayerZero’s advanced messaging infrastructure seamlessly connects over 30 blockchains and facilitates transparent and secure cross-chain messaging from one easy-to-use interface. Since going live in March 2022, the LayerZero protocol has processed more than 20 million messages with thousands of mainnet contracts being deployed by thousands of developer teams. Backed by leading venture capital firms including a16z, Sequoia, Binance Labs, Christie’s, Lightspeed, Opensea, Bond, Samsung Next, and GBV, LayerZero was recently valued at $3 billion. Developers building on LayerZero can create interoperable, omnichain dApps, which will lead to the establishment of a unified digital asset ecosystem. Visit LayerZero to learn more.

Contact

Media Relations
Chantel Elloway
Lif3 Labs Limited
media@lif3.com

10 Decentralized Applications Integrate Sui’s Groundbreaking “zkLogin” Google Authentication

Press Releases

Grand Cayman, Cayman islands, January 25th, 2024, Chainwire

Gaming, Ecommerce and DeFi applications are leveraging Sui’s singular social authentication to eliminate the biggest hurdle blocking mainstream audiences from web3.

Sui, the rapidly ascending Layer-1 blockchain created by the leaders of Facebook’s Diem project, today announced that over 10 decentralized applications (dApps) in the Sui ecosystem have integrated zkLogin, the first-of-its-kind primitive that makes Web3 login as simple as signing in with familiar web credentials such as Google or Twitch.

Sui continues to advance zkLogin, adding new providers and additional features such as multi-sig capability and more. Thanks to these recent additions, it’s estimated that thousands of users will now be able to use zkLogin and experience one of the world’s first one-click onboarding into crypto.

“zkLogin is a native utility unique to Sui that empowers developers to offer users the ability to use the same social logins they use everywhere else to authenticate with web3 applications,” said Kostas Chalkias, Co-Founder & Chief Cryptographer of Mysten Labs, the a16z and Circle-backed company that created the Sui Network. “As we enter the next phase of adoption, the existence of tools like zkLogin will become a prerequisite to onboard mainstream users into the decentralized web.”

Among the wallets that now support zkLogin are Chrome-based wallets such as Ethos Wallet and Sui Wallet. zkLogin is now also integrated into mobile applications (both on Play Store and AppStore) by using Suiet and Surf Wallet.

Similarly, web3 gaming experiences such as Suilette and Quantum Temple are using zkLogin, to give their users an easier, more intuitive onboarding experience.

Lastly, DeFi applications on Sui are also taking advantage of this unique strength of Sui. Well-known protocols like DegenHive, Blockbolt, Aftermath, Navi, and BlueFin have integrated the technology, allowing users to manage their digital assets and participate in financial activities without the hassle of managing private keys.

“zkLogin is a game-changer in Web3 and particularly in DeFi,” said Zabi Mohebzada, Co-Founder at Bluefin. “With zkLogin, users only need a Google account to sign up and trade. No wallets are required. This enables us to unlock the security benefits of decentralized trading for a much broader universe of investors.”

Launched in 2023 as one of the first industry solutions for Web2-based authentication for Web3, zkLogin makes it possible for users to join the Sui ecosystem without having to install separate wallets or memorize and manage seed phrases.

Contact

Sui Foundation
media@sui.io

Donald Trump Reaffirms Strong Opposition to Central Bank Digital Currencies

Crypto News Today

Former President of the United States and current presidential candidate, Donald Trump, recently revisited the contentious topic of central bank digital currencies (CBDCs), attributing the resurgence of the discussion to Vivek Ramaswamy, a former Republican presidential candidate who withdrew from the race following disappointing results.

At a rally held in Laconia, New Hampshire, on January 22, Trump acknowledged Ramaswamy as the catalyst for rekindling the CBDC debate.

Notably, Ramaswamy was the sole presidential candidate who had included a crypto framework in his campaign platform.

Trump, somewhat humorously, confessed to his initial dislike for Ramaswamy until defeating him in the race. He then reiterated his firm stance against the implementation of a CBDC in the United States.

This was not the first time that Trump had voiced his opposition to CBDCs. During a campaign speech in Portsmouth, New Hampshire, on January 17, he unequivocally stated, “I will never allow the creation of a central bank digital currency.”

Trump underscored his concerns by emphasizing that such a digital currency would grant the federal government “absolute control” over citizens’ financial transactions.

Trump’s stance on cryptocurrency had not been particularly nuanced in the past, apart from a few negative comments about Bitcoin during his presidency.

However, the issue gained prominence in the presidential campaigns of Vivek Ramaswamy and Florida Governor Ron DeSantis, both of whom have since suspended their campaigns.

Ramaswamy withdrew from the race on January 16 and threw his support behind Trump.

Similarly, DeSantis officially ended his presidential bid on January 21, after facing a substantial defeat to Trump in the Iowa caucuses.

He also endorsed Trump’s candidacy, despite being the subject of ridicule from the former president in recent months.

On January 19, U.S. Representative Tom Emmer joined the chorus of support for Trump’s commitment to opposing CBDCs.

Emmer emphasized his eagerness to collaborate with Trump in combatting what he referred to as the “expanding government surveillance state.”

Emmer has consistently advocated for digital assets and has a history of pushing back against the regulatory approach pursued by the U.S. Securities and Exchange Commission (SEC) and its Chair, Gary Gensler.

In summary, Trump’s resolute rejection of CBDCs has resurfaced thanks to the encouragement of Vivek Ramaswamy, a former presidential contender, and has garnered support from individuals like Tom Emmer who share concerns about the implications of a government-controlled digital currency.

The debate surrounding CBDCs continues to evolve within the context of American politics and cryptocurrency regulation.

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Syscoin Unveils World’s First zkDA in Collaboration With Polyhedra Network and NodeKit

Crypto News Today/DeFi

Syscoin, a longstanding advocate for harnessing Bitcoin’s infrastructure to drive blockchain innovation, has joined forces with Polyhedra Network and NodeKit to announce a groundbreaking initiative. This strategic partnership is set to introduce Zero-Knowledge Proof-of-Data Availability (zkDA) into Syscoin’s ecosystem, marking a significant advancement in Bitcoin’s merged mining mechanism and decentralized finance (DeFi) capabilities.

Key highlights of this new partnership include:

Bitcoin Integration via zkBridge: This enables seamless two-way transactions between Bitcoin and Rollux, Syscoin’s EVM Layer 2, establishing a robust Bitcoin Layer 3.
Client-Side Receiver Chain on Rollux: This enhancement boosts DeFi capabilities and interoperability, utilizing Syscoin’s Proof-of-Data Availability (PoDA).
Integration of zkDA in Syscoin: zkDA is deployed across multiple blockchains, adding modularity and enhancing security.
Sender Chain for Syscoin Assets: This trustless transfer mechanism facilitates the movement of Syscoin assets to other chains.
Integration with NodeKit: The collaboration incorporates Rollux and zkDA to leverage Bitcoin’s security for other rollups.

Syscoin’s zkDA combines Bitcoin’s security with Syscoin’s PoDA, offering robust security and efficient data processing. This integration represents a significant step towards improved blockchain interoperability and efficiency.

Jagdeep Sidhu, Core developer of Syscoin, highlighted the partnership’s importance, stating, “This collaboration brings scalable solutions without compromising security and decentralization, fundamental to blockchain development.”

Abner Jia, CEO of Polyhedra, emphasized the benefits, stating, “Our partnership leverages Bitcoin’s security with Syscoin’s zkDA, providing a path for Bitcoin to compete with other major smart contract platforms.”

Meanwhile, Noah Pravecek, Founder of NodeKit, added, “Our collaboration with Syscoin enhances our sequencing solutions, addressing decentralized and cross-chain rollup complexities.”

Real-world case studies showcase the impact of this partnership:

Cartesi utilizes Syscoin’s Layer 3 capabilities with PoDA, extending rollup functionalities across chains using zkDA.
NodeKit integrates Syscoin’s zkDA to bolster its sequencing network.
Polyhedra completes zkBridge of BTC to Rollux, enhancing multi-chain friendly secure DA solutions.

This partnership, coupled with the introduction of zkDA, represents a transformative leap in blockchain technology. It underscores Syscoin’s role as a pioneer in leveraging Bitcoin’s infrastructure, paving the way for a new era of modularity, where multiple chains can harness Bitcoin’s robust framework for scalable and innovative blockchain solutions.

Syscoin, with a decade of experience in blockchain innovation, has been at the forefront of harnessing Bitcoin’s security for scalable blockchain solutions. The integration of zkDA is a testament to Syscoin’s modular blockchain design approach, emphasizing performance and cost-efficiency.

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Algotech Presale Raised $1.1 Million In 2 Days And is Transforming the DeFi Landscape

Press Releases

London, United Kingdom, January 24th, 2024, Chainwire

Algotech (ALGT) is revolutionizing cryptocurrency trading with its advanced decentralized algorithmic trading platform, disrupting traditional manual trading methods. By utilizing cutting-edge algorithms and blockchain technology, Algotech ensures transparency, immutability, and security, overcoming the limitations of manual trading. Its platform is tailored for the dynamic realm of cryptocurrency trading, executing precise investment strategies.

In the world of algorithmic trading, Algotech (ALGT) stands out by leveraging data-driven analysis, complex algorithms, and automation, mitigating the impact of human intuition and emotions. This shift towards algorithmic trading, powered by machine learning and artificial intelligence, positions Algotech (ALGT) to capitalize on opportunities in rapidly growing markets, especially in cryptocurrencies.

The Algotech platform brings a myriad of benefits, ushering in a new era of trading efficiency. Algotech’s (ALGT) automation eliminates manual execution, reducing human biases and timing-related risks. With a strong emphasis on risk management and an advanced technical infrastructure, Algotech (ALGT) ensures a seamless and reliable trading experience for its users and investors.

Distinguishing itself with decentralized operations and advanced technologies, Algotech (ALGT) continuously improves its strategies. Offering a diverse range of algorithmic trading strategies tailored to various market conditions, Algotech allows users to align strategies with their risk tolerance and preferences. The platform’s robust technical infrastructure handles high trading volumes, delivering exceptional execution speed and minimizing downtime.

Emphasizing risk management, Algotech (ALGT) prioritizes the protection of users’ capital through careful risk assessment, position sizing, and portfolio diversification. By addressing challenges in traditional manual trading, Algotech’s algorithmic strategies provide advantages in data-driven decision-making, rapid execution, and scalability.

Algotech’s innovative approach to algorithmic trading represents a significant leap forward in the cryptocurrency trading space. By democratizing advanced trading capabilities and emphasizing efficiency, objectivity, and risk management, Algotech positions itself as one of the top DeFi projects and a leader in revolutionizing how traders engage in cryptocurrency markets.

ALGT Token: The ERC-20 Standard Token of Algotech

The ERC-20 token known as ALGT, resides on Algotech’s decentralized algorithmic crypto trading platform. Those who invest in ALGT early receive secure voting governance rights, partial ownership of the software, and a share in profits through dividends.

The ALGT token proceeds drive research and development in strategies such as hedging and mean reversion. Accompanied by a 30% performance fee from users benefiting from Algotech’s algorithms. ALGT investors will be eligible for passive and residual income opportunities through Algotech’s advanced technology.

Algotech (ALGT) Presale Details

The journey of Algotech’s (ALGT) public presale begins with an ALGT token priced at $0.04 in Stage 1. This presale came following the private seed sale, which saw Algotech raise $1.1 million in just two days of sale and over 55 million ALGT tokens sold.

With over 43.75 million ALGT tokens to be sold, Algotech kickstarted its public presale, opening the floor for investors to purchase the ALGT token on the Ethereum network (ERC-20).

About Algotech:

Algotech is a cutting-edge decentralized algorithmic trading platform designed specifically for the fast-paced world of trading. With its advanced algorithms and machine learning capabilities, Algotech empowers traders to navigate the complex markets with efficiency, precision, and accuracy.

Visit Algotech Presale

Join The Algotech Community

Contact

Mr
Algotech
Algotech Solutions
algotechsolutionsio@gmail.com
+447765968246

Mt. Gox Trustee Advances Towards Bitcoin Repayments with Identity Verification Confirmation

Bitcoin/Crypto News Today

The trustee overseeing the recovery of the hacked cryptocurrency exchange, Mt. Gox, has taken significant steps toward repaying creditors in Bitcoin (BTC) and Bitcoin Cash (BCH).

Recent reports indicate that Mt. Gox creditors have been contacted to confirm their identities and the existence of their exchange accounts, a crucial step in the reimbursement process.

Numerous Mt. Gox creditors have received emails from the trustee, notifying them of the successful completion of identity verification for their crypto exchange accounts.

These accounts will be utilized to facilitate the repayment of BTC and BCH. In a notification posted on Mt. Gox’s insolvency hub on Reddit on January 22nd, it was revealed that a crypto exchange mentioned in a user’s rehabilitation claim had confirmed the ownership of the account with the trustee.

Consequently, the exchange is now poised to accept the user’s subscription to the agency receipt for receiving repayment in BTC or BCH.

However, the email also issued a cautionary note, stating that users might face difficulties in receiving repayment if their accounts are disabled or frozen in the future.

Numerous Reddit users have confirmed receipt of such emails from the Mt. Gox trustee, with the majority of confirmations originating from the Bitstamp exchange.

Some Kraken users also reported receiving confirmation emails, while others have not yet received any communication from the trustee.

Interestingly, certain exchanges involved in the repayment process have informed their users that they will continue serving Mt. Gox-related customers in specific countries, despite their withdrawal from those jurisdictions.

Bitstamp, for instance, which ceased operations in Canada on January 4, 2024, announced that it would continue servicing local accounts engaged in the Mt. Gox settlement.

However, these accounts will have limited functionality, restricted to withdrawals only, with deposits and trading no longer available.

These developments coincide with the trustee’s progress in facilitating bank account repayments. Reports of the first Mt. Gox repayments surfaced in late December 2023, and some creditors even received double payments during this phase.

Founded in 2010, Mt. Gox was once the world’s largest Bitcoin exchange, handling approximately 70% of all BTC transactions.

However, it suffered a massive security breach in 2014, resulting in the loss of 850,000 BTC and making it one of the largest crypto bankruptcies in history.

Mt. Gox is now on track to repay its creditors a total of 142,000 Bitcoin and 143,000 Bitcoin Cash, along with 69 billion Japanese yen (approximately $510 million) by October 2024.

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European Bitcoin ETP Providers Slash Fees in Response to U.S. ETF Competition

Bitcoin/Crypto News Today

The fee war in the Bitcoin exchange-traded fund (ETF) arena has now crossed the Atlantic to Europe. This development follows the recent approval by the United States Securities and Exchange Commission (SEC) of Bitcoin ETFs in the United States, marking a significant shift in the financial landscape.

In the lead-up to the SEC’s approval on January 10th, many applicants in the U.S. continually adjusted their S-1 filings to reduce their ETF fees. Now, a similar trend is emerging in Europe among listed exchange-traded products (ETPs).

Two prominent asset management firms, Invesco and WisdomTree, have taken a bold step by slashing fees on their European-listed ETPs by over 60%.

Invesco’s $137 million Physical Bitcoin ETP will see its fee drop from 0.99% to a mere 0.39%, while WisdomTree’s $325 million Physical Bitcoin ETP will see its cost decrease from 0.95% to 0.35%.

It’s worth noting that in Europe, digital asset exchange-traded products are structured as exchange-traded notes (ETNs), a distinction from funds.

ETN investors hold debt securities, while ETF shareholders have a stake in the fund’s underlying assets.

The significant fee reductions can be attributed to increased competition and the proliferation of multiple ETFs in the U.S., a leading global financial market.

Previously, U.S.-based investors had to look to Canadian and European-based ETPs for investment opportunities.

However, with the SEC’s green light for 11 spot Bitcoin ETFs in the U.S., the demand for European ETPs from U.S. investors has markedly diminished.

Gary Buxton, Invesco’s Head of ETFs for Europe, explained in an interview with the Financial Times that the multitude of ETFs in the U.S. adjusted their fees to establish a “new equilibrium between supply and demand.” This led to considerably lower prices compared to existing ETPs in Europe.

U.S.-based Bitcoin ETFs have an advantage over their European counterparts in terms of liquidity and accessibility.

They are available on a single exchange platform, making them more convenient for European investors.

The recently launched spot Bitcoin ETFs in the U.S. have witnessed massive trading volumes from day one and continue to trade billions of dollars in daily volume, further strengthening their appeal to investors on both sides of the Atlantic.

This fee war signals a shifting landscape in the world of digital asset investment, with investors benefiting from reduced costs and increased options as competition heats up in both the U.S. and Europe.

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Dencun Upgrade Boosts Ethereum’s Scalability and Reduces Gas Fees on Testnets

Crypto News Today/DeFi

The Ethereum ecosystem is making significant strides toward reducing gas fees and enhancing transaction speeds for layer-2 rollups with the introduction of the Dencun upgrade on the network’s testnets in early 2024.

The Dencun network upgrade was activated on the Goerli testnet on January 17, bringing forth several Ethereum Improvement Proposals (EIPs).

Among these, EIP-4844 is particularly noteworthy, as it enables proto-danksharding, a highly anticipated improvement aimed at lowering L2 transaction fees.

However, the deployment of Dencun to Goerli initially encountered a four-hour delay due to a bug in Ethereum’s proof-of-stake client, Prysm.

Nebojsa Urosevic, co-founder of Ethereum development platform Tenderly, explained that network synchronization delays are common but also serve as an essential part of identifying and resolving such bugs.

The bug, as revealed by Ethereum Foundation protocol lead Tim Beiko, was linked to Prysm incorrectly setting the historical roots value to 0, preventing the Goerli testnet from finalizing the Dencun upgrade.

Dencun incorporates nine different EIPs, with proto-danksharding and blob transactions being the most eagerly anticipated.

Proto-danksharding offers improved scalability through the use of blob-carrying transactions, which are more efficient and cost-effective than traditional calldata, potentially reducing costs by 80%–90%.

Following its successful implementation on Goerli, the Sepolia and Holesky testnets are next in line to undergo the Dencun upgrade.

All three testnets must demonstrate successful deployment before considering an upgrade to Ethereum’s mainnet.

One of the significant impacts of the Dencun upgrade is storage efficiency. Ethereum sidechain Gnosis’ infrastructure director, Philippe Schommers, explained that Dencun will offer more block space and lower costs to layer-2 solutions.

Data previously stored indefinitely on-chain will now be discarded after two weeks, improving efficiency and reducing costs.

As a result, Dencun promises lower gas fees and faster transactions, paving the way for more complex applications on layer-2 solutions.

Rollups, in particular, stand to benefit greatly from reduced operational costs and improved scalability.

Anurag Arjun, co-founder of data availability blockchain Avail, highlighted the growing demand for block space from rollups and suggested that protocols like Avail could help address these demands.

Recent benchmarks of Avail’s zero-knowledge Ethereum Virtual Machine Validium have demonstrated a 90% reduction in transaction fees while providing decentralized and secure data availability guarantees.

In summary, the Dencun upgrade marks a significant step toward addressing scalability issues on the Ethereum mainnet, offering greater storage efficiency, lower gas fees, and an improved development experience.

Rollups and complementary protocols are set to play a crucial role in further enhancing Ethereum’s ecosystem.

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BlockDAG Network Starts Strong on Quest for $600M as AVAX Drops 14% In 30 Days While SOL Surges

Crypto News Today

The crypto world has been abuzz with discussions of Solana (SOL) and Avalanche (AVAX). Interestingly, while Avalanche has seen its value decline, Solana has been on an impressive upward trajectory. This article explains the factors driving these contrasting market movements.

Additionally, we’ll introduce BlockDAG (BDAG), an emerging cryptocurrency with great potential for making a significant impact in 2024. Our analysis aims to provide a deeper understanding of these trends and the prospects of BlockDAG in the ever-evolving landscape of digital currencies.

AVAX: A Price Drop Of 14% In 30 Days

Over the past month, AVAX, the cryptocurrency associated with the Avalanche platform, has undergone a substantial 14.36% decline, marking a distinct departure from its remarkable 2023 performance. Analysts attribute this downturn to profit-taking following an impressive 292% surge over 90 days.

The crucial question now looms – how protracted will this downward trend persist? Scrutinising the 4-hour AVAX/USD chart reveals a diminishing demand, painting a decidedly bearish outlook. Positioned below both the 20 EMA (blue) and 50 EMA (yellow), AVAX’s current negative sentiment is further underscored by the emergence of a death cross, with the 50 EMA surpassing the 20 EMA.

The 0.786 Fibonacci retracement level also hints at a potential pullback to around $35.07 before witnessing any substantial demand resurgence. A note of caution is sounded for short positions targeting less than $35, given the Liquidation Heatmap’s indication of possible large-scale liquidations within the price range of $34.46 and $34.97. This warns of potential sudden price fluctuations triggering position closures due to inadequate funds to cover margin balances. Investors must navigate these precarious waters with circumspection.

Solana Price Surges After Pullback

Solana, a prominent cryptocurrency, is thriving while AVAX faces a downturn. In the last month alone, Solana’s price soared by an impressive 40.50%, catching the eye of eager investors and traders seeking to capitalise on this upward trend. The success of Solana can be attributed to several factors, notably its cutting-edge technological advancements.

Operating on a next-gen blockchain, it seamlessly integrates the best aspects of existing technologies, delivering unparalleled speed, flexibility, and innovation. This has drawn in developers and users and spurred increased adoption and cryptocurrency demand. Furthermore, Solana’s robust ecosystem, featuring diverse, decentralised finance (DeFi) protocols and applications, has created abundant opportunities, fueling the cryptocurrency’s upward trajectory.

Can BlockDAG Network Achieve $600 Million In 2024?

While AVAX and Solana’s prices have been making headlines, another cryptocurrency holds great potential: BlockDAG crypto. It aims to revolutionise crypto mining by making it accessible to all. One of the key features of BlockDAG is its commitment to making mobile mining simple and rewarding for everyone.

With the BlockDAG app, users can easily engage in the mining process from anywhere, leveraging the power of their mobile devices. This accessibility opens up new opportunities for individuals from all walks of life to participate in crypto mining. By securing BlockDAG during its presale batch, investors are strategically positioning themselves to benefit from the potential growth of the coin.

BlockDAG’s innovative approach to crypto mining, combined with its commitment to accessibility and operational agility, sets it apart from other crypto networks. With its advanced hybrid consensus mechanism, BlockDAG aims to validate transactions faster while maintaining high security. This technological advantage could attract many users and contribute to the coin’s growth.

The early signs indicate that BlockDAG has the potential to impact the crypto market significantly. By blending groundbreaking speed, flexibility, and innovation, BlockDAG has positioned itself as a promising cryptocurrency to watch in the coming years.

Final Thought

While AVAX’s price has experienced a decline, Solana’s price has been on a remarkable surge. These market trends reflect the dynamic nature of the crypto landscape. Additionally, the introduction of BlockDAG brings a new dimension to crypto mining, making it accessible and rewarding for all. With its ambitious goals and innovative approach, BlockDAG has the potential to achieve significant success in the crypto market.

Join BlockDAG Presale Now:

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetwork

Discord: https://discord.gg/Q7BxghMVyu