Crypto Bubble

2022-04-16 18:40:00 ​​BabyDoge To Launch Decentralized Exchange (DEX) With Burn Feature

Baby DogeCoin officially declared the plan to launch “BabyDoge Swap,” its decentralized exchange (DEX).

Following the footprints of the most popular dog-themed cryptocurrency and its rival Shiba Inu (SHIB), Baby DogeCoin declared the plan to launch its own decentralized exchange (DEX) named “BabyDoge Swap” via tweet soon after its NFT launch scheduled on 20th April 2022, at 4:20 pm EST.

As per the tweet, the Swap will have some unique features like increasing utility and burning of the token. However, further official details about the BabyDoge Swap and its special features are yet to be revealed.

Baby DogeCoin has also shared a 58-seconds demo video. The demo video comprises a glimpse of what BabyDoge Swap looks like and how it will work.

The Dex will require no registration and users would be able to trade hassle-free by connecting wallets to Binance smart chain.

This demo video gives the community a strong indication that BabyDoge Swap is 100% ready and will be soon released following the public NFT mint.

Following Dogecoin and SHIB, Baby DogeCoin (BabyDoge) is the third most followed canine-themed meme cryptocurrency on Twitter, with 1.1 million followers.

The token also reached a major milestone of 1.50 Million holders. This milestone makes BabyDoge, the favorite token for retail investors compared to DOGE and SHIB. As per BscScancom data, 619,670 unique wallet addresses are holding DOGE, while the holder count for Shiba Inu currently stands at 1,127,347 (1.12 Million).

The coin has a circulating supply of 160 Quadrillion and a total supply of 420 Quadrillion.

Moreover, since the start of the year 2022, BabyDoge has burned a whopping total of 17 quadrillion tokens worth over $54.3 million by sending them to the dead wallet. Open / Comment

2022-04-14 19:00:07 ​​Ethereum Push Notification Service Raises $10M at $131M Valuation

One of the major pain points in the crypto user experience (UX) is the lack of cross-blockchain communication. Ethereum Push Notification Service (EPNS), a communication protocol hoping to solve that problem, has raised $10.1 million in a Series A funding round at a $131 million valuation.

Jump Capital led the round with participation from Tiger Global, ParaFi, Sino Global Capital, Polygon Studios, and Harmony Foundation, among others.

The EPNS protocol enables on-chain communications with the ability to opt-in for permissionless channel notifications and subscriptions. Instead of using usernames to connect as on Discord or Twitter, EPNS relies on a user’s on-chain identifier. Since launching in January, EPNS says the protocol has powered four million notifications sent to more than 44,000 subscribers.

“We have a very aggressive plan to get to a million users,” EPNS founder Harsh Rajat told CoinDesk in an interview.

EPNS currently provides on-chain notifications for CoinDesk for media alerts, Ethereum Naming Service (ENS) for domain expirations, Snapshot for governance updates and Oasis for vault liquidation, among others.

EPNS will use the funding to expand its team and develop on additional blockchains beyond Ethereum. The protocol is already in testnet on Polygon and plans to launch on Binance, Harmony and an unspecified non-Ethereum Virtual Machine (EVM) compatible chain by the end of the year, said Rajat. The company also plans to launch wallet-to-wallet communication in the third quarter.

“A user on any blockchain should be able to receive a notification from any other service they use on any blockchain,” Rajat explained.

“As Web 3 power users, Sino Global Capital faces the difficulty of monitoring numerous DeFi, gaming and governance platforms and proposals,” said Sino Global Capital CEO Matthew Graham in a statement. “EPNS solves a huge pain point for us and fellow Web 3 product users by creating and consolidating notifications into an easy-to-use dashboard with fantastic UI/UX.” Open / Comment

2022-04-13 14:10:00 ​​Metaverse Firm Infinite Reality to Buy Esports Company ReKT for $470M in Stock

Metaverse company Infinite Reality has agreed to purchase esports giant ReKT Global for $470 million in an all-stock deal, bolstering Infinite’s plan to expand its offerings, the company announced on Tuesday.

With the acquisition, Infinite seeks to add ReKT’s entertainment and esports business to its existing platform, which covers social, gaming, virtual and remote production, NFT minting, content and Metaverse creation.

The deal is based on an equity valuation for Infinite Reality of $2 billion, for a combined post-close valuation of $2.47 billion. Infinite Reality plans to go public in a SPAC merger with Universal Security Instruments Inc (UUU).

Infinite was formed from the merger of social ecommerce platform Display Social, entertainment production company Thunder Studios and Metaverse builder Infinite Metaverse.

“The synergies across our combined business units from content creation to Web3 entertainment to APIs and more are awe inspiring,” Infinite’s CEO John Acunto said in a statement. “We look forward to working with ReKTGlobal’s senior leadership to integrate our valuable combined assets and accelerate Infinite Reality’s growth."

ReKT is known for its esports teams such as Team Rogue and London Loyal Ravens. Rogue has garnered 14 world titles and 23 major championships, according to ReKT’s website. Celebrity DJ Steve Aoki is one of ReKT’s investors. Open / Comment

2022-04-12 16:20:00 ​​Crypto Market Back Under $2T as Bitcoin, Ethereum Tumble

Bitcoin broke below $42,000 as the market sold off earlier this morning.

Crypto Market Suffers Dip Below $2T
The global cryptocurrency market cap has tumbled below $2 trillion yet again.

The market kicked off the week in the red as Bitcoin, Ethereum, and other assets retraced. Per data from CoinGecko, Bitcoin broke below $42,000 early Monday after a 3.2% dip, Ethereum fell to around $3,050 after a 5.8% decline, and many lower cap coins were harder hit. The Layer 1 networks Solana, Cardano, Polkadot, and Terra were shaken in the recent selloff, bringing the global crypto market cap to around $1.97 trillion.

The bearish update comes despite the Luna Foundation Guard’s steadfast commitment to accumulating vast quantities of Bitcoin on the open market. The foundation, which was recently established to build reserves for Terra’s UST stablecoin, added to its stash with another nine-figure Bitcoin buy over the weekend and now holds just under 40,000 Bitcoin worth about $1.6 billion at press time. Led by Terraform Labs CEO Do Kwon, LFG’s Bitcoin initiative had sparked some renewed confidence in the market in recent weeks, but the current price action suggests the optimism could have been short-lived.

The recent volatility has led some traders to share negative short to medium-term outlooks on crypto’s price potential. Former BitMEX CEO Arthur Hayes put out a Medium post today arguing that crypto’s close correlation with stocks would send prices further into the red over the coming months. Hayes called for $30,000 Bitcoin and $2,500 Ethereum by June 2022, but it’s worth noting that he also predicted that Ethereum could trade “north of $10,000” by the end of the year in another post he published 10 days ago.

Downward Trend Continues
The crypto market is entering its sixth month of sluggish activity. Since the global cryptocurrency market cap topped $3 trillion in November 2021, most assets have struggled to retain their highs amid market exhaustion and macro factors such as the Omicron strain, the Federal Reserve’s tapering and interest rate hikes, and soaring commodity prices due to Russia’s attack on Ukraine.

Bitcoin and Ethereum have trended roughly 40% down for several months, while the likes of Solana, Avalanche, Dogecoin, and have fared much worse. One exception to the trend has been Terra’s LUNA, which broke a new all-time high of $119 on Apr. 5 as the LFG ramped up its Bitcoin spending. Despite the broader market decline, certain Ethereum NFTs have also seen huge price appreciation in both U.S. dollar and Ethereum terms.

Besides the Terra developments, one possible catalyst for a market revival is Ethereum’s long-awaited “Merge” to Proof-of-Stake, which Hayes cited as a significant factor for his five-digit prediction. Still, while Ethereum has completed its Merge testnets and is expected to complete the upgrade sometime this year, the launch date is currently unknown. Open / Comment