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Bitunix Lists Catizen (CATI) Meme Token on Spot Market

Dubai, United Arab Emirates, October 3rd, 2024, Chainwire

Bitunix, a fast-growing derivatives exchange, has officially listed Catizen’s Token (CATI) on its spot market on September 20, 2024. This listing marks an important milestone in CATI’s growth, following its successful adoption on several major platforms. For Bitunix, this move is yet another step in its ongoing mission to provide a diverse and innovative trading experience.

Bitunix Welcomes Catizen: Expanding Play-to-Earn Offerings

Catizen is a viral Telegram-based game where players can earn Catizen coins by building and managing a virtual cat city. In their city players can build structures, upgrade infrastructure, and manage the well-being of their residents. The game sets itself apart with its play-to-earn model, where players can turn in-game coins into real cryptocurrency tokens through airdrops on The Open Network (TON). This element provides tangible rewards opportunities for players while enjoying the game

As for tokenomics, CATI has a total supply of 1 billion tokens, of which 43% are allocated for airdrop and ecosystem development, so that community members and early adopters have the chance to be rewarded for their participation and contributions to the growth of the project.

Source: Catizen Whitepaper

Since its launch in March 2024, the game has grown quickly on Telegram, with over 40 million on-chain users in total and 2.6 million daily active players. The game’s increase in popularity is driven by its design and the increasing demand for Web3-based crypto games. The team also plans to drop new features as part of the projected growth in the Metaverse and NFT sectors.

Responding to Demand: CATI Listing Enhances Trading Opportunities on Bitunix

Bitunix recognized the demand for this popular token and by taking this step, it gives traders access to a promising token that is gaining traction in the market. This move is part of Bitunix’s broader effort to respond to user demand for tokens with genuine utility and growth potential while offering top-tier security and low fees.

The listing of CATI meme coin on the spot market is a strategic move, aligning with Bitunix’s mission to offer users many opportunities. As a fast-growing crypto derivatives exchange, this latest addition enriches Bitunix’s growing portfolio and follows the platform’s strategy of aiding traders with access to a wide variety of tokens.

About Bitunix

Founded in 2021, Bitunix is one of the fastest-growing crypto derivatives exchanges in the world, achieving millions of users around more than 100 countries in just one year, and already offering over 250 coins for trading. Recently, major exchange rankings like CoinGecko have positioned it in the global Top 15 (by trusted rate).

Bitunix offers unique features that make it the most advanced crypto trading platform in the world (such as multi-window systems where the user can trade simultaneously on up to 8 different charts).

Thus, ease, security, and transparency are the main reasons why traders choose Bitunix for their daily trading, with advantages such as: Leverage up to x125, deep liquidity, lower trading fee, 24/7 customer support, reserve verification/audits, and a strong adherence to regulatory compliance.

Website | Telegram | X | LinkedIn

Contact

COO
KX WU
Bitunix
kx.wu@bitunix.io

Bitcoin’s Bull Cycle Has Accelerated By 100 Days

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Bitcoin’s bull market cycle has accelerated, running 100 days ahead of its typical four-year cycle, according to a new report by CoinMarketCap (CMC).

Bitcoin (BTC) is potentially on the verge of breaking its traditional four-year cycle and entering a supercycle, CMC stated in its third-quarter market research report released on October 3.

According to CMC Research, several factors indicate Bitcoin’s potential entrance into a supercycle, driven by institutional adoption, BTC exchange-traded funds (ETFs), and evolving market dynamics.

Bitcoin’s four-year cycle is a crucial concept reflecting the cryptocurrency’s market dynamics. This cycle is closely tied to Bitcoin halving events, which cut BTC miner rewards approximately every four years or after 210,000 new BTC blocks are mined.

Bitcoin halvings typically have a significant impact on BTC prices, with bull markets historically peaking between 518 and 546 days after halving events.

According to CMC, Bitcoin’s price performance, along with the most recent BTC halving—which took place on April 20, 2024—suggests that a potential BTC all-time high could occur significantly earlier than typically expected.

Estimating Bitcoin’s current bull market progress at 40.66%, CMC noted:

“This time, Bitcoin is ahead by about 100 days, pointing to a potential peak between mid-May and mid-June 2025 […] Despite this early acceleration, there are signs of slowing infrastructure growth, which could indicate that broader market dynamics are evolving.”

Among the factors suggesting that BTC may be breaking its traditional four-year cycle, CMC highlighted Bitcoin’s increasing correlation with traditional assets like gold and tech stocks, as well as growing institutional adoption from firms like MicroStrategy and Semler Scientific.

On October 2, Forbes published an article titled “Why Bitcoin is becoming a part of traditional finance,” further supporting the notion that BTC is gaining traction in the financial sector.

In the report, CMC also listed the top five active sectors in the crypto industry, with memecoins and Ethereum leading.

Despite a rally at the end of Q3, 16 sectors experienced at least 10% market cap losses, with declines reaching up to 40%. The storage, lending, and privacy sectors were the hardest hit, suffering losses of 39%, 37%, and 31%, respectively.

Additionally, the report noted that the United States continues to lead the global crypto user base with a 17% market share, followed by India with over 9%, and Brazil with 8%.

CMC highlighted that Bitcoin remained the most popular coin globally in Q3, with market shares ranging from 45% in Africa to 52% in Oceania.

Relational Blockchain Chromia Backs Elfa AI To Advance AI-Powered Crypto Market Insights 

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  • Chromia invests in Elfa AI to advance AI-driven crypto market insights.
  • The move marks its first investment via its Data and AI Ecosystem Fund, launched in September.
  • New features are set to be launched on Elfa AI following the strategic capital raise. 

Leading relational blockchain Chromia announced a strategic investment in Elfa AI, an  AI-powered social platform designed to help users navigate the crypto market through real-time, data-driven insights. The investment aims to revolutionize how crypto traders and investors analyze the crypto market trends, adding a component of AI to improve their analysis, especially on social media. 

The strategic investment marks the first backing via the recently launched Chromia’s Data and AI Ecosystem Fund, unveiled during the Token2049 conference in Singapore. 

Partnership Set To Advance AI-Powered Crypto Market Insights

Adding to the investment, the two companies will also partner to advance the crypto trading and investing scene. Currently in its whitelisting stage, Elfa AI applies artificial intelligence to large volumes of data from platforms such as X and Telegram, streamlining the process of identifying actionable trends in the fast-moving world of cryptocurrency. The company leverages AI and machine learning to filter and analyze vast amounts of information, allowing users to find and focus on the most relevant market signals and trading opportunities. 

In short, Elfa AI’s platform aims to simplify how users engage with cryptocurrency data, offering a streamlined and efficient approach to staying informed in a rapidly changing market. Speaking on its first investment via its newly launched fund, Yeou Jie, Head of Business Development at Chromia, stated: 

“Elfa AI stands out because of its ability to harness AI to deliver real-time, actionable information in the fast-paced world of crypto. We believe their platform has the potential to change how users engage with crypto markets, and we see a natural alignment between their data-driven approach and Chromia’s blockchain infrastructure.”

Chromia Launches $20 Million Data and AI Ecosystem Fund

During the Token2049 conference this September, Chromia announced a new $20 million Data and AI Ecosystem Fund to help advance building and developing AI and data solutions across the blockchain space. The fund is aimed at supporting projects that utilize data in innovative ways within the blockchain space.

The launch of this initiative aims to pick out standout projects building on Chromia or other blockchains, form strategic partnerships with these data-intensive projects and invest long-term in them. The fund is agnostic in terms of industry focus, extending its reach to established Web3 sectors such as DeFi, NFTs, and gaming. The primary goal is to attract a diverse set of partners who will build native DApps on Chromia or integrate its technology into their existing products.

Similar to Elfa AI’s investment, Chromia’s fund is part of the company’s broader strategy to support projects that enhance the capabilities of decentralized applications by improving data management and accessibility.

Looking Forward

Chromia’s strategic collaboration with Elfa AI is expected to benefit millions of users globally in their crypto trades and investment analyses. More to it, the partnership aligns with the goals of both firms as Chromia’s relational blockchain architecture, which supports efficient management of large datasets, aligns with Elfa’s data-centric approach.

Through the partnership, the two platforms will explore and advance ways to enhance data accessibility and transparency by leveraging Chromia’s infrastructure to allow public verification of data used within the Elfa ecosystem. Additionally, Elfa will explore integration with Chromia’s developer-friendly tools, facilitating more efficient retrieval and analysis of on-chain data for both users and developers.

In the future, the strategic partnership is expected to expand the growth opportunities, in adoption and crypto market solutions, providing Elfa AI users with the potential to create their own tools and solutions using open-source datasets stored on Chromia blockchains. Over time, as more developers and users interact with these tools, both platforms aim to advance the application of AI technology to produce actionable market insights.

Mpeppe Presale Hits $3M As Mpeppe Releases New Telegram Gaming Platform

Frankfurt, Germany, October 2nd, 2024, Chainwire

Mpeppe (MPEPE), a cryptocurrency project merging online gaming and decentralized finance (DeFi), has reached a significant milestone with its presale exceeding the $3 million mark. Alongside this achievement, Mpeppe (MPEPE) has launched an exciting new gaming platform on Telegram, offering users a fun and interactive experience while earning rewards. With the Mpeppe Casino on the horizon and the MPEPE30 promo code for early participants, Mpeppe (MPEPE) is aiming to establish a presence in the online gaming and cryptocurrency space.

Mpeppe (MPEPE) Achieves $3 Million Presale Milestone

The Mpeppe (MPEPE) presale has now surpassed $3 million, marking a significant achievement for the project. Mpeppe (MPEPE) sees this milestone as a reflection of growing investor confidence and excitement surrounding Mpeppe (MPEPE)’s innovative approach to online gaming and decentralized finance (DeFi). The success of the presale signals strong community support and positions Mpeppe (MPEPE) for further development and growth as the project moves toward launching its much-anticipated gaming and casino platforms.

Mpeppe (MPEPE) Releases New Gaming Platform on Telegram

Mpeppe (MPEPE) has also launched a new gaming platform integrated with Telegram, providing users with a decentralized application (DApp) to participate in games while earning Mpeppe tokens as rewards. The platform’s accessible design allows users to engage directly with the ecosystem. To incentivize early participants, the MPEPE30 promo code is now live, offering a 30% bonus on token purchases for a limited time.

Mpeppe Casino: Revolutionizing the Crypto Gaming Industry

Mpeppe (MPEPE) is preparing to introduce the Mpeppe Casino, a blockchain-powered gaming platform that will enable users to wager using MPEPE tokens. Mpeppe (MPEPE) has combined the viral appeal of meme culture with the growing popularity of cryptocurrencies in online gambling, creating a unique and engaging casino experience. The platform will offer the chance to win instant rewards, enabling players to enjoy timely payouts and reduced transaction fees through the use of blockchain technology. With Mpeppe (MPEPE), players will experience enhanced privacy, security, and a frictionless gambling experience.

30% Bonus Promo for Early Participants

To celebrate the launch of the new Telegram gaming platform, Mpeppe (MPEPE) has introduced the $MPEPE30 promo code, which offers users a 30% bonus on their tokens when they join early. This promo code is designed to reward early participants and encourage engagement within the Mpeppe (MPEPE) community.By utilizing the $MPEPE30 bonus, users have the opportunity to increase their holdings and earning potential as they engage with the platform.

Mpeppe (MPEPE): Meme Power and Blockchain Driving Gaming Revolution

With the presale hitting $3 million, the release of the new Telegram gaming platform, and the upcoming launch of the Mpeppe Casino, the Mpeppe (MPEPE) team aims to make a significant impact in the online gaming and cryptocurrency space. The viral influence of meme culture, combined with the advantages of blockchain technology, has positioned Mpeppe (MPEPE) as a project to watch.

About Mpeppe (MPEPE)

Mpeppe (MPEPE) combines elements of cryptocurrency, decentralized finance, and online gaming to offer a unique platform for users. By integrating blockchain technology into its gaming services, Mpeppe seeks to create secure, efficient, and rewarding experiences for its users.

For more information on the Mpeppe (MPEPE) Presale users can visit Mpeppe (MPEPE)

Users can join and become a community member: 

https://t.me/mpeppecoin

https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ

Mpeppe (MPEPE) is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Contact

Pepe Guardiola
Support@mpeppe.io

Nibiru Foundation Launches Venture Arm to Support Web3 Innovation

Cayman Islands, Grand Cayman, October 2nd, 2024, Chainwire

The Nibiru Foundation launches Nibiru Ventures, a strategic venture arm dedicated to supporting blockchain projects building natively in the Nibiru ecosystem. Through funding and guidance, Nibiru Ventures will cultivate the next generation of builders and help bring their application visions to market.

Product and operational support are vital, but capital introductions and commitments have emerged as the most commonly requested resources from founders building applications. Whether targeting multi-chain expansion or building exclusively on Nibiru, product integration comes with costs in the form of developer time and salaries spent.

Nibiru Ventures was created to overcome the challenges faced by ecosystem dApp founders and expand the scope of the services that Nibiru provides, offering upfront funding and broad support to accelerate their journey,” says Nibiru Chain COO Jonathan Chang.

Chang emphasized that Nibiru Ventures hopes to mitigate the upfront risk associated with integrating an application to a new chain while ensuring alignment with Nibiru, and without enforcing chain exclusivity. On top of this, the team offers guidance on entity formation, pitching, fundraising, go-to-market strategy and technical assistance.

Nibiru Ventures Investment Strategy

Ideas are abundant in the Web3 space, but the path to widespread adoption requires applications that deliver tangible utility. Nibiru Ventures is focused on supporting consumer-facing applications that naturally drive meaningful interest and engagement, in contrast to more esoteric infrastructure projects.

Typical investments focus on pre-seed and seed-stage rounds and priority is given to those with shorter time-to-market. Key areas of focus include pioneering models of decentralized exchanges (DEXs), lending, derivatives, and vaults for structured products.

“For Nibiru Ventures, these sectors are considered particularly promising due to their alignment with patterns of historical adoption, parallels to successes in Web2, and a solid base of existing technology to build upon,” explains Nibiru co-founder, Unique Divine.

To date, one of Nibiru Ventures’ significant investments was made in LayerBank, a decentralized multi-chain lending platform looking to become a liquidity hub across EVM-compatible Layer 2 and rollup chains. With $675+ million USD in total value locked (TVL) and growth potential, LayerBank will introduce cross-chain lending functionality in Q4 2024. This innovation will consolidate fragmented liquidity across various Layer 2s into a unified liquidity pool.

To learn more about the application process for Nibiru Ventures and to apply for funding, readers can visit the application form. By applying, projects gain the opportunity to join a carefully curated portfolio. Nibiru Ventures seeks to partner with forward-thinking founders and teams to drive positive growth in Web3.

About Nibiru

Nibiru Chain is a smart contract ecosystem with a high-performance, EVM-equivalent execution layer (Nibiru EVM). The Nibiru blockchain is engineered to meet the growing demand for versatile, scalable, and easy-to-use Web3 applications. Having secured $20.5 million in strategic and seed funding rounds, Nibiru is backed by investors, including NGC Ventures, HashKey Capital, Kraken Ventures, and Tribe Capital.

Contact

Nibiru Chain
media@nibiru.org

Ripple Receives in-Principle DFSA License Approval

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Ripple, a prominent crypto payments infrastructure provider, has received in-principle license approval from the Dubai Financial Services Authority (DFSA). This approval allows the company to establish a presence in the United Arab Emirates (UAE).

On Oct. 1, Ripple announced that it secured this in-principle license, which is a necessary step toward obtaining a full license in Dubai. Once fully approved, Ripple will offer cross-border payment services for both fiat and digital assets within the Dubai International Financial Center (DIFC), a special economic zone in Dubai.

In its official statement, Ripple said:

“This milestone significantly strengthens Ripple’s global footprint as a regulated entity and enables the introduction of seamless cross-border payment services, including Ripple Payments Direct (RPD), in the UAE.”

To finalize the process, companies in the DIFC, including those in the crypto sector, must meet several obligations, such as securing office space within the zone. Following successful registration, the DIFC will issue a full license to the applicants.

Ripple is aiming to be the first blockchain-enabled payment services provider licensed by the DFSA. The company plans to launch its enterprise-grade digital asset infrastructure in the UAE. Ripple CEO Brad Garlinghouse remarked:

“With its forward-thinking regulatory approach and clear guidance for innovative businesses seeking to invest and scale, the UAE is positioning itself as a global leader in this new era of financial technology.”

Additionally, Ripple intends to utilize Dubai as a strategic hub to tap into fast-growing crypto markets across the Middle East, Africa, and South Asia.

Salmaan Jaffery, chief business development officer of the DIFC Authority, noted Dubai’s advantageous position as a global hub:

“Dubai’s strategic location and DIFC’s robust legal and regulatory framework, built on two decades of experience, makes this the ideal hub for international businesses looking to make a lasting impact.”

Moreover, Dubai’s digital asset regulator has recently implemented stricter requirements for companies marketing crypto investments, mandating disclaimers on their marketing materials to enhance consumer protection.

10 Million MYTH Tokens Airdropped to over 450,000 DOT Holders

Zug, Switzerland, October 1st, 2024, Chainwire

The MYTH Airdrop Distributes Rewards to Polkadot Users in a Large and Transparent Airdrop Event

Yesterday, the Polkadot DAO and Community commenced distributing an airdrop of 10 million MYTH tokens to over 450,000 Polkadot (DOT) wallets as an inaugural, collaborative action between the Mythos and Polkadot ecosystems. 

The airdrop follows the previously announced collaboration between the two entities and is a historic milestone in the industry leaders’ successes at the forefront of blockchain gaming and Web3 innovation. Users can claim their rewards and “teleport” their tokens to the Mythos Chain via the airdrop portal at https://airdrop.mythos.foundation, transforming the airdropped tokens to native MYTH, which powers the Mythos gaming chain. 

The airdrop distribution began on Sep. 30th and will conclude within seven days.

Airdrop Overview

This airdrop is more than just a distribution of tokens—it’s the product of several rounds of feedback from the Polkadot community, making it the most transparent airdrop ever created. The airdrop was refined with input from the Polkadot community, including input from key Polkadot ecosystem stakeholders and leaders from organizations including Scytale Digital, The Kusamarian, OpenGov.Watch, ChaosDAO, PermanenceDAO, and BlockDeep Labs. 

The airdrop was constructed and published via Dune Analytics, led by blockchain services firm Colorful Notion, with an audit conducted by Parity Technologies, allowing full transparency and community insight throughout the process.

Users can login to the airdrop portal on desktop (mobile support coming soon) and claim the MYTH to a native Mythos chain address. With MYTH users can begin operating on the Mythical Marketplace, transacting on the Mythos chain and readying themselves for further incentives expected to be announced in the coming weeks. The 10 Million MYTH airdrop is also intended to complement the ongoing Mythical Forest campaign, in which holding native MYTH tokens gives users a multiplier effect on rewards, allowing them the chance to earn from a 2 million MYTH token pool incentivizing social tasks and quests.

Airdrop Criteria Looking to Reward the Most Active Users

The goal of the two campaigns is to spure participation, with the currently live Mythical Forest Campaign focused on social quests and the MYTH airdrop focusing on rewarding active Polkadot users—those who have engaged in core activities like staking, voting in governance, and executing cross-chain (XCM) transactions; Polkadot’s signature feature that highlights its unparalleled interoperability. A total of 128,796 active wallets are receiving rewards, with individual wallets receiving up to 1,337 MYTH based on their level of engagement.

Users who had participated more actively saw a significantly higher share of the rewards pool. For example:

  • If one had staked their DOT, they could have received additional MYTH tokens.
  • If one had engaged in cross-chain transactions (XCM)—Polkadot’s unique feature allowing seamless transfers across different chains.
  • Even more rewards were available for voting in Polkadot’s governance system (OpenGov) and participating in crowdloans.

This airdrop incentivizes both active and passive participants in the Polkadot ecosystem, rewarding those who have fully embraced Polkadot’s unique advantages. For users who simply held DOT but didn’t actively participate, 347,885 “inactive” wallets still received MYTH tokens, ensuring everyone with a stake in Polkadot benefited from this community-driven initiative. In both cases the wallet must have held between 10 DOT and 5000 DOT at the time of snapshot.

The MYTH token: Expanding Across Chains

The Mythos blockchain gaming ecosystem, in collaboration with and support of Mythical Games,  is demonstrating the power of multi-chain interoperability with the Mythos chain and MYTH token, which is now supported across four blockchains, three of which are secured by Polkadot:

  1. Mythos – The native blockchain of the Mythos blockchain gaming ecosystem. Users can interact with projects like the Mythical forest campaign by holding their MYTH here. [
  2. Hydration – Polkadot’s leading DeFi chain and most advanced decentralized exchange. 
  3. Ethereum – Home of the MYTH ERC20 token, which can be bridged to the Mythos chain via Snowbridge.
  4. Asset Hub – A Polkadot system chain, which acts as the focal point of liquidity entering the Polkadot ecosystem and a hub to connect all parachains.

This multi-chain capability reinforces Mythos’ commitment to being chain-agnostic, aligning with Polkadot’s vision of interoperability across blockchains. Users are able to access and manage their tokens through all major ecosystem wallet UIs including Nova Wallet and SubWallet for mobile users, as well as Talisman and SubWallet on desktop, with initial support for the airdrop portal coming from Talisman and SubWallet on desktop devices. 

Future Campaigns and Gaming Incentives

In addition to the current campaigns, the Mythos Foundation has reserved millions of additional MYTH tokens, for community building, gaming incentives and more, available to those with active accounts on the native Mythos Chain. An additional reserve will be used to drive long-term engagement of token holders and gamers. 

More on the Mythical Forest Campaign: 2 Million MYTH Tokens Up for Grabs

Running alongside the airdrop is the Mythical Forest Campaign, where participants can complete social tasks and earn points towards a 2 million MYTH token rewards pool. The more tasks completed, the more MYTH tokens participants can claim, making it an exciting opportunity for the entire Web3 community. Holders of native MYTH tokens are further incentivized with bonus rewards.

For full details on the airdrop criteria, including to confirm eligibility, readers can visit https://dune.com/substrate/mythos

About the Mythos Foundation:

The Mythos Foundation is primarily responsible for the governance and development of the MYTH token and its ecosystem. It oversees initiatives and partnerships aimed at expanding the adoption of blockchain technology in gaming, including managing token distribution and supporting gaming incentives. It emphasizes the broader ecosystem, governance, and strategic partnerships, such as the collaboration with Polkadot for token swaps and airdrops.

For more information on the Mythos Foundation, readers can visit https://linktr.ee/mythostoken.

Contact

Jonathan Duran
Jonathan@distractive.xyz

Sui Breaks $1B in TVL, Surpassing Polygon, Optimism

Grand Cayman, Cayman Islands, October 1st, 2024, Chainwire

The Move-based protocol becomes the 8th largest blockchain by Total Value Locked, amid USDC integration and thriving developer ecosystem

Sui, the Layer 1 blockchain offering industry-leading performance and infinite horizontal scaling, has crossed the $1B mark in Total Value Locked (TVL), based on publicly available data from DeFiLlama. Leveraging the network’s public goods, like its innovative central limit order book, DeepBook, Sui’s TVL has grown over 2700% over the past twelve months.

Data from DefLlama shows the rapid advance of Sui’s DeFi TVL

The leading Layer-1 blockchain that was created by the team that led Meta’s Diem crypto project is now the 8th largest chain as measured by TVL, after locking more value in its ecosystem than established protocols such as Polygon, and Optimism. This latest achievement signals a burgeoning demand that is strengthening the entire Sui DeFi ecosystem including leading lending protocols on the network, NAVI, Suilend and Scallop Lend and decentralized exchanges, Cetus and Aftermath.

With over $400 million in stablecoins and a top 10 ranking in weekly DEX trading volume, Sui recently announced with Circle that it joined an exclusive shortlist of non-EVM chains to natively support the USDC stablecoin and its Cross-Chain Transfer Protocol (CCTP) on the network.

“Sui is the fastest-growing DeFi ecosystem and it’s thriving!” said Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, which developed the Sui Network. “In the past year, Sui has attracted an influx of builders whom Sui has enabled to create applications that they simply can’t build on any other blockchain.”

Since its mainnet launch, Sui has been rapidly growing its presence in a number of areas. As a secure and scalable platform for building the future of intelligent assets, Sui has already become a premier destination for application builders in gaming, DeFi, memecoins, as well as real-world applications such as 3D printing and tokenized securities. In September, Mysten Labs unveiled its SuiPlay0X1 handheld gaming device, which sets a new standard in both the Web3 and traditional gaming industries by enabling users to own their own assets natively on Sui and access exclusive in-game rewards.

Contact

Sui Foundation
media@sui.io

Ripple Receives in-Principle License Approval from DFSA

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Ripple, a prominent crypto payments infrastructure provider, has received in-principle license approval from the Dubai Financial Services Authority (DFSA). This approval allows the company to establish a presence in the United Arab Emirates (UAE).

On Oct. 1, Ripple announced that it secured this in-principle license, which is a necessary step toward obtaining a full license in Dubai. Once fully approved, Ripple will offer cross-border payment services for both fiat and digital assets within the Dubai International Financial Center (DIFC), a special economic zone in Dubai.

In its official statement, Ripple said:

“This milestone significantly strengthens Ripple’s global footprint as a regulated entity and enables the introduction of seamless cross-border payment services, including Ripple Payments Direct (RPD), in the UAE.”

To finalize the process, companies in the DIFC, including those in the crypto sector, must meet several obligations, such as securing office space within the zone. Following successful registration, the DIFC will issue a full license to the applicants.

Ripple is aiming to be the first blockchain-enabled payment services provider licensed by the DFSA. The company plans to launch its enterprise-grade digital asset infrastructure in the UAE. Ripple CEO Brad Garlinghouse remarked:

“With its forward-thinking regulatory approach and clear guidance for innovative businesses seeking to invest and scale, the UAE is positioning itself as a global leader in this new era of financial technology.”

Additionally, Ripple intends to utilize Dubai as a strategic hub to tap into fast-growing crypto markets across the Middle East, Africa, and South Asia.

Salmaan Jaffery, chief business development officer of the DIFC Authority, noted Dubai’s advantageous position as a global hub:

“Dubai’s strategic location and DIFC’s robust legal and regulatory framework, built on two decades of experience, makes this the ideal hub for international businesses looking to make a lasting impact.”

Moreover, Dubai’s digital asset regulator has recently implemented stricter requirements for companies marketing crypto investments, mandating disclaimers on their marketing materials to enhance consumer protection.

Bybit’s World Series of Trading 2024 Kicks Off: The Biggest Trading Competition in Crypto History Begins

Dubai, United Arab Emirates, October 1st, 2024, Chainwire

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to unveil the World Series of Trading (WSOT) 2024, the world’s longest-running crypto trading competition. This year, WSOT pushes boundaries, integrating centralized and decentralized trading, allowing participants to experience the trustless trading of the future. 

Game-Changing Features Traders Will Love

Individual traders can battle in three arenas depending on their capital size: lightweight, middleweight, and heavyweight. With separate prize pools for each league, the competition is fairer and ensures that talent wins the day, not account size. 

Furthermore, traders can add up to four subaccounts within their Unified Trading Account (UTA) and rack up PnL across multiple accounts and markets, increasing their chances of winning. Bybit’s UTA calculates margin across positions, unifies collateral, and improves capital efficiency so traders can operate multiple positions from one account, making it a killer tool for the rigors of competitive trading. 

Expanding into Decentralized and Centralized Trading

WSOT also includes Bybit Web3’s DEX Pro trading platform so participants can trade over 1 million decentralized tokens, including memecoins, DeFi, GameFi, and more. Participants can also take part in the first-ever Web3 Idol competition.

To play, traders earn votes through trading and completing daily tasks. Voters can support up to three projects daily and have the chance to win from a 1,000,000 MNT prize pool, including a 600,000 MNT grand prize for those who vote for the winning project and 200,000 MNT daily rewards. The winning project will receive exclusive CEO backing, prime listing, and marketing support, making it a key event in shaping the future of Web3.

Over 100 ecosystem partners and decentralized projects such as MomoAi and Tars Protocol from Solana, and Catizen, KTX Finance via Mantle will participate in the DEX Pro competition as part of WSOT. By marrying centralized (CEX) and decentralized (DEX) trading, all crypto lovers can experience the wave of the whole ecosystem.

“Bybit aims to create industry best practices for onboarding users for both CEX and DEX to help create a broader landscape of crypto adoption,” said Ben Zhou, co-founder and CEO. “By combining these two elements, we are enabling the smaller projects and specialist traders to rise up the competition ranks.” 

10,000,000 Prize Pool and Participation Details

The prize pool for WSOT 2024 is bigger and better, with rewards including yacht cruises, Rolex watches, world travel tickets, and up to 10,000,000 USDT. The more participants join, the larger the prize pool grows, making this year’s competition the juiciest in crypto. 

To participate, simply sign up for WSOT when the event opens on October 1 and maintain at least $500 in your Bybit UTA account. All participants can invite friends to join WSOT and get more chances in the lucky draw. 

Over the years, Bybit’s WSOT has grown to historic heights, with nearly 117,000 traders entering competitions between 2020 and 2022. And in 2023, the competition attracted almost 120,000 traders globally. This resulted in a remarkable year-on-year trading volume surge of 42%, reaching a total trading volume of 70.5 billion.

#Bybit / #TheCryptoArk / #WSOT2024

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, users can visit Bybit Press

For media inquiries, users can contact: media@bybit.com

For more information, users can visit: https://www.bybit.com

For updates, users can follow: Bybit’s Communities and Social Media

Contact

Head of PR
Tony Au
Bybit
tony.au@bybit.com

1 74 75 76 77 78 346