Edwin Rojas Ulo, President of the Central Bank of Bolivia, referred to the recent change in stance that the institution had on crypto and stablecoins. According to reports, Rojas Ulo stated that he believes adding crypto to the national financial system might be beneficial as an alternative and remarked on the function of stablecoins as […]
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Spot Ether ETF Approval Expected to Enhance Crypto Asset’s Legitimacy and Utility, Says Hedera Council President
While lobbying is likely to play an important role in shaping crypto policy, just as it has done in the early days of most industries, Charles Adkins, President of the Hedera Council, believes showcasing the tangible benefits of blockchain technology is a far more sustainable approach. Therefore, instead of relying solely on lobbying efforts or […]
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DeltaPrime Unveils $PRIME Token: Pioneering a New Standard in DeFi Governance and Utility
PRESS RELEASE. June 27, 2024 — DeltaPrime, a decentralized borrowing and investing platform, is thrilled to announce their Token Generation Event (TGE) on Uniswap and Trader Joe. The TGE marks another innovation in crypto with the launch of the $PRIME and $sPRIME tokens on July 1st, 2024. Born in the bear market and operating on […]
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Bitfrost and Stacks Foundation Team up to Enhance Bitcoin Utility
In a recent development, the Bitfrost Foundation has allied with the Stacks Foundation to explore new opportunities within the Bitcoin ecosystem. This partnership is dedicated to harnessing Bitcoin’s potential by introducing innovative use cases and improving interoperability with assets and protocols based on Bitcoin. Bitfrost and Stacks Foundation Partner to Expand Bitcoin Ecosystem On Thursday, […]
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Texas Electric Utility Courts Unnamed Crypto Miners With Five-Year Deals
In a recent report, the community-driven, nonprofit electric provider in Texas, Denton Municipal Electric (DME), is attracting interest from several crypto mining companies seeking to establish operations. These companies are eyeing a five-year agreement for powering their mining activities. Texas’ Denton Municipal Electric in Talks With Unnamed Crypto Miners On Feb. 16, the Denton Record […]
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XRP Whales On The Move Again, As Altcoin Records Significant Utility Spikes
In the last 48 hours, the XRP market has witnessed a significant amount of large-scale transactions, drawing much attention from the general crypto space. According to data from blockchain tracker Whale Alert, XRP whales conducted transactions involving over a billion XRP on Friday, September 1.
Ripple Transfers 75 Million XRP To Unknown Wallet In Whale Buying Spree
Through a series of posts by Whale Alert on social media platform X (formerly Twitter), it can be inferred that the XRP market witnessed four major whale transactions.
The biggest of these transactions was the transfer of 424,354,912 XRP – valued at 4,293,666 – from one unknown wallet to the other. In this context, unknown wallets refer to addresses with no affiliation to a crypto exchange.
Furthermore, there was the move of XRP, 19,920,318 XRP worth ,167,904, from another unknown wallet to the Binance exchange. It was also noted that a whale transferred 66,666,659 XRP, worth ,065, 809 from an unknown wallet to the Binance exchange.
However, the most notable transaction that caught most traders’ eye came from Ripple, the company behind the XRP cryptocurrency.
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75,000,000 #XRP (37,058,145 USD) transferred from #Ripple to unknown wallethttps://t.co/MIAbaaLoOS
— Whale Alert (@whale_alert) September 1, 2023
Whale Alert reported that Ripple transferred 75,000,000 XRP, worth ,058,145, from its Binance wallet to an unknown wallet.
Following this move, some crypto enthusiasts believe that this particular unknown wallet also belongs to Ripple, as the company could be intending to soon offload those tokens on an exchange. This speculation has led to most investors predicting an incoming market dump.
Ripple also conducted other transactions on September 1, locking about 800,000,000 XRP in escrow.
However, this does not raise any concern as the crypto payment firm is known to release 1,000,000,000 XRP at the start of every month before proceeding to lock up about 80% of the new tokens a few hours later.
XRP Records 7-Month Highest Transaction Volume Among Other Positives
Following the massive transactions in the XRP market, on-chain analytics firm Santiment has provided a report highlighting some of the effects of these whale movements.
According to an X post on September 1, Santiment reports an on-chain transaction volume of 4.8 billion XRP, marking the seven highest value of this metric in the XRP market over the last seven months.
The analytics firm also noted that there are currently about 2.03 billion XRP in circulation, representing the token’s highest-circulating supply since May 31. In addition, XRP development activity was also reported to be on the high side.
At the time of writing, XRP still finds itself struggling amid a general market downturn. The fifth-largest cryptocurrency trades at .4983 with a 1.88% loss in the last day, according to data from CoinMarketCap.
Damex Releases in-App Utility Token Damex Token, Enables Users to Earn Rewards for Staking Tokens
PRESS RELEASE. WATERPORT PLACE, GIB., March 20th, 2023 – Digital Asset Management Limited and the Damex group (“Damex” or “Damex.io”)), a Distributed Ledger Technology provider based in Gibraltar, recently announced its utility token IEO, the Damex Token ($DAMEX), which can be used within the Damex App along with other non-fungible tokens (NFTs), to earn rewards for adopting a healthier and more active lifestyle.
Damex announced its token IEO for 19th April. Its utility went live and was tested during the Q1 of 2023, with future developments for both the Damex Token and the Damex App slated throughout the year. The total supply is 370 million Damex Tokens.
The goal of these new offerings by Damex is to encourage users to become healthier individuals while, at the same time, educating them about cryptocurrency and promoting environmental sustainability.
What can users gain in exchange for staking Damex Tokens?
For instance, when a user stakes 5,000 Damex Tokens, they can get access to a VIP Premium membership, as well as enjoy zero exchange fees while using the Damex App. Premium Subscription members can enjoy benefits such as:
- Access to top-tier exercise challenges
- Get a premium member card
- Unlock cash-back incentives on all tiers
- Get early access to new Damex features
During its first round of private sales (Q4 2022) for the Damex Tokens, Damex raised million. During its second private sale (Q1 2023), Damex raised million.
The core Damex Tokens will be created on Ethereum and will then be bridged to other blockchain protocols such as Solana and BSC. Aside from being used for staking and rewards, the Damex Token will allow users to vote on key features within the Damex ecosystem and key features, including Damex Token listing and Damex App features.
Damex also introduces its Buy Back and Burn Programme, where 20% of the profits will be used to purchase the Damex native tokens off the market. The tokens will either be burned or used as incentives for users.
Users can earn rewards when they complete challenges, which will change every three months. Furthermore, the NFT rewards will vary monthly. For example, if a user completes the Marathon challenge with a step goal of 60,000 steps, which is equivalent to the London Marathon, they can receive standard rewards such as 0.10% cash back and 10% off exchange fees. Premium Members can receive 0.15% cash back, while VIP Premium members (5,000 Damex Tokens) can receive rewards, such as 0.2% cash back, free NFT airdrops, and zero exchange fees on the Damex platform.
The Damex Token has received investment from several investors, including:
- CSPDAO
- Cetacean Capital
- Odin Capital
- Funfair Ventures
- Coin IX
- Alpha Praetorium Capital
- Kebblar Capital
- Belobaba
- Catenam Capital
Using the Damex digital asset finance application, users can deposit cryptocurrencies, exchange crypto for fiat currencies, and pay for purchases using their Damex Visa debit cards. The Damex App was launched in its beta version on February 17, 2023, with the initial exchange offering for the Damex Token scheduled for April 19, 2023. The Damex App is currently open in the UK and EEA.
About Damex.io
Damex.io are a digital asset group of companies trading since 2017. Digital Asset Management Limited (trading as Damex or Damex.io) is a Distributed Ledger Technology (DLT) provider that received its Distributed Ledger Technology authorisation from the Gibraltar Financial Services Commission in 2019. The Damex Token is issued by Damex Limited and is registered with the Gibraltar Financial Services Commission for the purposes of its token offering.
Visit www.damex.io to get the latest updates and official information on the Damex Token. Interested individuals can also contact Damex via its social media channels. Telegram: damex_io Facebook: damex.io. Twitter: @damex_io. LinkedIn: https://www.linkedin.com/company/damexio/.
Headquarters: Damex.io, Suite 2.4 & 2.5, Waterport Place, Gibraltar, GX11 1AA
Support Office hours: Monday-Friday, 9:00-18:00.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Former Bored Ape Yacht Club Artist Enhances Sneaky Vampires Syndicate Utility And Inclusion Through Second Collection
Competition continues to heat up in the NFT space, yet very few collections provide long-term utility. However, Sneaky Vampire Syndicate’s team is preparing to launch the Sneaky Vampiress collection, which is integral to the project’s future. Moreover, the new collection pays homage to the many female MFT artists who remain undervalued in this industry.
The Success of Sneaky Vampires Syndicate
Thousands of NFT collections have come to market over the past year and a half. Some are more successful than others, yet success comes in different forms. A high overall trading volume is often a good indicator. However, collections also need to offer long-term utility to remain relevant, which is much harder to come by. Sneaky Vampires Syndicate is one of the few collections checking both boxes.
Thanks to over 21,700 ETH in total trading volume, SVS is one of only 63 NFT collections to date capable of surpassing 21,000 ETH in sales. That is remarkable, given the sheer amount of NFT collections being created every week. Moreover, the collection of 8.888 male vampires notes over 1,400 holders, confirming a strong interest in what this collection provides. Furthermore, the team recently achieved strong real-world utility coinciding with the new Scream movie release.
To expand the utility of Sneaky Vampires Syndicate, the team will launch a secondary collection. Like the male vampires, the Sneaky Vampiresses are created by former BAYC artist Mig. Moreover, the choice for female vampires makes sense, as SVS aims to bring attention to the female enthusiasts in this industry. Both collectors and artists can see the appeal of Sneaky Vampiresses, a collection that will potentially improve the appeal of non-fungible tokens.
Promoting female inclusion and representation is essential in a male-drive industry. Gender should not be a barrier to empowerment through decentralization. Additionally, the easy-to-understand nature of Sneaky Vampire Syndicate makes it a powerful candidate to attract other genders to the NFT industry. More importantly, it may spark a wave of enthusiasm among artists to explore what this technology is all about.
Sneaky Vampiresses Enhance Utility
Although the ambition to promote female NFT artists and enthusiasts is worthwhile, the new collection has a secondary purpose. Matching male and female vampires introduces the breeding system, dubbed “Blood Pact”. Holders of both NFT types can engage in the minting of Gen-2 vampires, which will unlock an expansion of the Sneaky Vampire Syndicate Metaverse and its utility. Minting Gen-2 vampires requires $BLOOD tokens earned from staking SVS NFTs.
The Sneaky Vampiress collection will also feature eight unique 1-of-1 non-fungible tokens. Eight individual female artists draw these eight unique renditions, adding a certain appeal to the collection. Even though there are more Vampiresses (12,345) than initial Sneaky Vampire Syndicate NFTs (8,888), there are many opportunities. Existing SVS holders all gain minting access at a 1:1 ratio based on NFT holdings. The rest of the Vampiresses will be minted by large and female-led communities and public minting participants.
Sneaky Vampire Syndicate Project lead Thomas Kekker adds:
“The Genesis SVS NFTs were a huge success, and we’ve not let our foot off the gas. From the very beginning, we built this around nurturing our community and creating the best possible environment. We believe the release of the Vampiresses will continue the growth of our ecosystem in the right direction.”
Whitelisted users can access the Sneaky Vampiress pre-sale between February 21, 3 pm ET, and February 22, 3 pm ET. Public minting will begin on February 22, 4 pm ET, until all NFTs are minted or the campaign ends on February 28. All Sneaky Vampiresses will be revealed on that day after the minting process ends. Holders of Genesis SVS NFTs can achieve a minting discount of up to 50% if they own enough $BLOOD tokens.
Covesting Highlights Increased Utility of COV token in 2022 Roadmap
Covesting, a European licensed DLT services provider and B2B software developer, has further highlighted the functionality and of its COV token in a new 2022 roadmap that further spells out more utility for the token.
After successful launch of its peer-to-peer copy trading module on PrimeXBT earlier in the year Covesting went on to launch the full implementation of its COV token utility and functionality for users of the copy trading module to take advantage of.
Now, as the company starts to look ahead to 2022, with a newly released roadmap, there is additional utility users can expect from the token next year.
However, the other news from the firm is that it is launching a aYield accounts service, which allows users with minimal technical expertise to participate in the DeFi staking economy and earn a variable APY interest rate on their idle crypto holdings with only a single click.
The Yield Account Service is built as a standalone software module that is available to third-party platforms for integration. This was the case with PrimeXBT, who have already implemented this service on their platform.
Covesting Future Roadmap Revealed
In the roadmap, there are certain mentions of new functionalities with COv, as well as other plans and even a look back on the growth through 2021.
Covesting mentions that firstly, it will be allowing more users the chance to take advantage of the benefits of the COV token by reducing the required amount of tokens required for membership activation.
Advanced memberships will become 0, while Premium memberships will become ,000, and Elite memberships will drop to ,000 equivalent in COV tokens.
Additionally, there will be the ability to create COV-denominated strategies and followers will be able to follow these COV token-denominated strategies with COV. To make COV an attractive base currency, followings and strategies denominated in COV will receive a higher profit share, with 75% and 25% respectively, explains Covesting.
PrimeXBT platform users will be able to open margin trading accounts using COV as the base currency and margin collateral, which will automatically enable 25% on all trading fees while using COV-denominated accounts. And, copy-trading platform followers will receive a higher profit distribution depending on their COV membership tier, rather than initial following equity.
Covesting also states that if COV is chosen as the preferred payout currency, the maximum profit share of 75% for followers and 25% for strategy managers will be applied. And finally, elite Covesting members will receive an opportunity to stake their COV tokens in Covesting Yield Accounts and get access to daily rewards.
Moving forward
Covesting have also highlighted their journey since their inception in 2017 to a fully functional feature that generates millions of dollars in profits for followers. This past year they have continued to improve and implement changes for the betterment of their users.
They have added several updates to the copy trading module aimed at creating a safer environment for all users. A max following limit was introduced as well as grades, a public margin utilization chart, and a stop-loss feature for followers.
There has also been a focus on community feedback as Covesting state they made updates based on user data, community feedback, and Covesting team innovations.For example, one update they mention to the margin allocation chart makes the data more digestible and actionable.
A verified status has also been added for strategy managers who have passed KYC and a take-profit feature lets followers lock their unrealized gains.
ShoeFy Announces $3.65 Million Raise For Innovative NFT Platform With Utility Layers
ShoeFy, a decentralized project that has combined nonfungible tokens (NFTs) and fungible tokens (FTs) on one platform to add new utility layers to NFTs, has announced a .65-million round of fundraising. Investors include DuckDao, MoonWhale, ExNetwork, AU21, Basics Capital, Dutch Crypto Investors and more. Despite a heavily oversubscribed private sale, there are still two rounds left with 0k allocated to the community rounds across multiple Launchpads, followed by the last 0k for the public rounds. The allocation will be distributed through a whitelisting of ShoeFy’s website.
ShoeFy is doing two things simultaneously. First, it is diving into the art world of NFTs with their debut shoe NFT (sNFT). A collection of 10,000 unique digital shoes are powered by the four elements to build a decentralized platform where users can generate passive income in five distinct ways by utilizing FTs and NFTs in various forms like staking, farming, or adding liquidity. In the development cycle of the sNFT, they wanted to add more value. So they came up with additional utility layers that can be added to NFTs through their DeFi toolset designed for passive income generation.
After their launch, the ShoeFy platform will debut a new DeFi product, which finally adds some utility to the nascent NFTs. Unfortunately, NFTs are so nascent that they are missing solid utility layers and can only be bought, sold, or held. ShoeFy aims to solve this by providing NFT farming and introducing the NFT swap or SHOE/sNFT Liquidity Pool (LP),which consists of the pioneering FT/NFT pairs. Users can earn SHOE tokens from transaction fees and LP rewards as passive income by providing liquidity to this pool.
The project is led by a team of experienced blockchain venture capitalists, creative NFT developers and top-tier marketing experts spanning Europe to Canada and onto South Korea and Thailand in SE Asia. The team members share common goals and foresee a huge opportunity in the NFT and DeFi market space. In terms of their backgrounds, some are founders of creditable venture capitalist (VC) firms and marketing experts. Other members have experience in reputable crypto projects and exchanges. Also, they have a tech team of superior talent building their platform.
Michal Horvath, chief marketing officer at ShoeFy, said: “We are passionate about art and DeFi, and to be able to combine the two mediums and come up with a real value for investors is what innovation is all about. We have forged partnerships with other projects that have come up with different utilities for the NFT to add value further and encourage mass adoption. DeFi is growing at twice the rate of crypto because people want access to better finance options. The legacy system has let a lot of people down, and with DeFi technology fueled by art, we can provide value like never before.”
The team plans to use the funds to build the platform, release the sNFT collection and expand their community. The project has five distinct ways to generate passive income through various uses of the SHOE tokens and their sNFTs. ShoeFy products include the sNFT pool where users can stake sNFTs to earn SHOE tokens, or users can do conventional staking and stake their SHOE to earn SHOE. An sNFT farm will allow users to stake SHOE to farm different classes of sNFTs.. Then, there will be two ways for users to provide liquidity, the conventional way through SHOE/Wrapped Ether (WETH) and SHOE/ Tether (USDT) for LP tokens that can be staked on the platform of your choice. Finally, the world premiere of the sLPl, where users can stake SHOE/sNFT pairs to earn SHOE, adding utility to their sNFT so users can generate passive income with their collectibles.
ShoeFy IDO Launch Week
The ShoeFy Community round kicked off yesterday, Oct. 11, starting with PolkaBridge, where it was sold out in just 3 minutes. In total, the SHOE initial DEX offering (IDO) is being carried out across seven different launchpads. Today, ShoeFy had impressive dual IDOs on Moon Starter and MultiPad. MoonStarter was sold out within the first 55 seconds and MultiPad was sold out in under 5 seconds of its round 2. Tomorrow, the third day of IDO will be on two more launchpads, DuckStarter and KwikStarter. The last day, Oct 14, is Oxbull and TruePNL.
Next week turns up the heat even more with SHOE on Gate.io Start-Up on Oct 18. Then on Oct 19 at 12:00 PM UTC, a decentralized exchange (DEX) listing on Uniswap and a centralized exchange (CEX) listing on Gate.io.
Image by sebagee from Pixabay
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