pStake Finance, supported by Binance Labs, recently introduced its liquid staking solution for Bitcoin, marking a significant advancement in Bitcoin-native decentralized finance (DeFi).
This new solution, developed on Babylon’s Bitcoin staking protocol, is designed to simplify the Bitcoin staking process while providing additional opportunities for Bitcoin holders to generate yields.
Mikhil Pandey, co-founder and chief strategy officer of pSTAKE Finance, emphasized the company’s commitment to enhancing Bitcoin’s functionality as a yield-generating asset.
He stated, “Having fundamental faith and belief in Bitcoin, yields, and constantly identifying and solving crucial problems in this industry are some of the reasons behind moving in Bitcoin’s direction.
The opportunity to make Bitcoin a yield-generating asset, something that hasn’t existed inherently, is very exciting. Yield-generating Bitcoin is powerful for all ecosystems and not just Bitcoin L2s.”
This initiative is part of the broader Bitcoin DeFi (BTCFi) movement, which seeks to integrate DeFi capabilities with the first blockchain network.
The growing interest in Bitcoin-native DeFi solutions has been bolstered by the 2024 halving event, which coincided with the launch of Bitcoin Runes, a new protocol for issuing fungible tokens on the Bitcoin network.
In the run-up to the halving, Binance Labs, the independent venture capital arm of Binance, has pivoted its focus towards BTCFi, marking its commitment with an investment in the Bitcoin-native restaking protocol BounceBit on April 11.
The launch of pSTAKE’s liquid staking solution represents the company’s inaugural venture into Bitcoin-native DeFi after three years of developing its protocol on the Cosmos network. pSTAKE is part of a growing number of protocols aimed at transforming Bitcoin into a yield-generating asset.
In a similar vein, Hermetica announced in early May the launch of the first-ever Bitcoin-backed synthetic U.S. dollar with yield capabilities, USDh, set to debut in June and offer up to 25% yields.
Pandey sees the BTCFi sector as an area ripe with promising products that enhance Bitcoin’s capital efficiency.
He believes, however, that the sector still requires further development to reach the maturity seen in Ethereum’s DeFi space. “Ethereum’s tech had to go through a lot of evolution before the actual DeFi Summer in 2020.
The Bitcoin DeFi landscape will likely follow a similar journey of development and progress before we see a full-fledged BTCfi Summer,” he explained.
Pandey also highlighted the significant financial potential in making Bitcoin a more versatile asset, noting the current minimal DeFi penetration in the Bitcoin market: “With less than 1% of the Bitcoin market cap in DeFi today, we could see huge growth as we develop more secure and reliable ways to generate yield on Bitcoin.”
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Circle Internet Financial, the entity behind USD Coin—the second-largest stablecoin globally—has announced its plan to relocate its legal base from the Republic of Ireland to the United States.
This decision comes as the U.S. tightens its cryptocurrency regulations.
A Circle spokesperson confirmed to Bloomberg on May 14 that the company has initiated legal proceedings for the move, though specific reasons for the relocation were not shared.
This move coincides with Circle’s efforts to go public, as indicated by their confidential submission of an initial public offering (IPO) plan via a press release in January.
Legal Implications
Moving from Ireland, known for its lower corporate tax rates, to the U.S. will likely increase Circle’s tax burdens.
This shift is part of a broader response to global tax reforms initiated by the Organization for Economic Cooperation and Development (OECD).
Since October 2021, the OECD Global Anti-Base Erosion Rules mandate a minimum 15% tax on multinational enterprises (MNE) profits worldwide.
Meanwhile, Tether, the largest stablecoin issuer, has engaged in significant regulatory activities.
Tether CEO Paolo Ardoino revealed on X that the company has blocked over $1.3 billion worth of assets due to various threats,
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Baby Doge on Sol (DOGESOL) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Baby Doge on Sol (DOGESOL), a new Solana memecoin that was launched today, is poised to explode over 14,000% in price in the coming days.
This is because DOGESOL has announced its first centralized exchange listing, which will be on BitMart.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Baby Doge on Sol can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Baby Doge on Sol could become the next viral memecoin.
Baby Doge on Sol launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Baby Doge on Sol on Raydium or Jupiter ahead of the BitMart listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Baby Doge on Sol by entering its contract address – G5GEMyeea1HqS2KnpazPiMuTy3sqS1UdQegsbNLGpF7U – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DOGESOL.
In the past week, over 600 companies have disclosed substantial investments in spot Bitcoin exchange-traded funds (ETFs) through their 13F filings with the United States Securities and Exchange Commission (SEC).
These filings reveal that professional investment firms hold $3.5 billion worth of Bitcoin ETFs.
Notable investors include Morgan Stanley, JPMorgan, Wells Fargo, UBS, BNP Paribas, the Royal Bank of Canada, and hedge funds such as Millennium Management and Schonfeld Strategic Advisors.
Millennium Management is the largest investor in Bitcoin ETFs, with $1.9 billion allocated.
This includes $844.2 million in BlackRock’s iShares Bitcoin Trust (IBIT), $806.7 million in Fidelity’s Wise Origin Bitcoin Fund (FBTC), $202 million in the Grayscale Bitcoin Trust (GBTC), $45 million in the ARK 21Shares Bitcoin ETF (ARKB), and $44.7 million in the Bitwise Bitcoin ETF (BITB).
Schonfeld Strategic Advisors, managing $13 billion in assets, is the second-largest investor in spot Bitcoin ETFs, with $248 million in BlackRock’s ETF and $231.8 million in Fidelity’s fund, totaling $479 million.
Boothbay Fund Management, a hedge fund manager based in New York, reported $377 million in spot Bitcoin ETFs.
This includes $149.8 million in IBIT, $105.5 million in FBTC, $69.5 million in GBTC, and $52.3 million in BITB.
Pine Ridge Advisers, another New York-based firm, announced a $205.8 million investment in spot Bitcoin ETFs, divided into $83.2 million in IBIT, $93.4 million in FBTC, and $29.3 million in BITB.
Morgan Stanley disclosed a $269.9 million investment in GBTC, positioning it as one of the largest GBTC holders. Aristeia Capital, an alternative asset manager, revealed a $163.4 million investment in IBIT.
Graham Capital Management, based in Connecticut, declared a $98.8 million investment in IBIT and $3.8 million in FBTC.
CRCM disclosed a $96.6 million investment in IBIT, while Fortress Investment Group, a New York-based firm, reported a $53.6 million investment in IBIT.
Spot Bitcoin ETFs were launched in the second week of January and saw significant demand in the first three months.
Despite recent declines in inflows, hundreds of financial institutions have invested billions in spot Bitcoin ETFs.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Gambling Cat (GAMBCAT) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Gambling Cat (GAMBCAT), a new Solana memecoin that was launched today, is poised to explode over 14,000% in price in the coming days.
This is because GAMBCAT has announced its first centralized exchange listing, which will be on KuCoin.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Gambling Cat can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Gambling Cat could become the next viral memecoin.
Gambling Cat launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Gambling Cat on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Gambling Cat by entering its contract address – B4BQTfBJ6uQYkzaZyQjTmH7k3c9gzXQ3FrPMPDstpYAn – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like GAMBCAT.
Diamond Paws (DIAPAWS) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Diamond Paws (DIAPAWS), a Solana memecoin that was launched yesterday, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Diamond Paws presents a similar opportunity.
DIAPAWS rallied over 700% in the first few hours after its launch, before consolidating as some early buyers cashed out their profits.
However, most investors are still holding their tokens, as they are waiting for DIAPAWS to be listed on MEXC later this week, as this listing will cause the coin’s price to skyrocket.
Its current price presents a great opportunity for new investors to buy the dip before the next rally.
DIAPAWS has a market cap below $9,,000 at the moment, meaning that when it just reaches a modest market cap of around $200,000-$500,000, early investors would generate returns of 2,000%-3,000% in a matter of days or hours.
The exciting memecoin is poised to rally another 12,000% in the coming two days, and Diamond Paws (DIAPAWS) could potentially reach a multi-million dollar market cap within a few weeks.
Currently, DIAPAWS can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Diamond Paws (DIAPAWS) on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for DIAPAWS by entering its contract address – HCEn3J1sKqMqPxrQDE33rGhJvyXh4r3YgyzD2wiAm3ga – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DIAPAWS.
Bybit, ranked among the top three cryptocurrency exchanges globally in terms of volume, has launched an attractive 2% cashback offer for its Bybit Card users, with rewards paid in USDT directly into their accounts. This promotion applies to all purchases, whether made with fiat or cryptocurrency, highlighting Bybit’s ongoing efforts to facilitate the use of crypto in everyday transactions.
The exchange has introduced an Auto Cashback feature, which automatically converts cashback points into USDT, simplifying the reward accumulation process. Users can easily enable this feature from their Card Dashboard, maintaining the simplicity and user-friendliness Bybit is recognized for.
Joan Han, the Sales & Marketing Director at Bybit, emphasized the company’s commitment to the crypto sector, stating, “Bybit is dedicated to pioneering the cryptocurrency landscape by partnering with leading projects that enhance the overall market and deliver significant benefits to our users. Through the Bybit Card, we are committed to simplifying cryptocurrency access, effectively narrowing the divide between conventional finance and the digital economy.”
The process for receiving cashback is streamlined. After each transaction, cashback points are credited to users’ accounts within a few days and can be tracked under the ‘Earned’ section in Bybit’s Reward Market. These points are then automatically converted into USDT daily, keeping users informed throughout the process.
The Bybit Card itself is designed with a minimalist and user-friendly interface, consistent with Bybit’s philosophy of facilitating easy global spending of cryptocurrencies. Additionally, with the recent integration of Google Pay and other payment systems, Bybit Card holders in the European Economic Area (EEA) can now make secure and quick transactions online, in-app, and in stores. This integration notably expands the utility of the Bybit Card, leveraging the widespread acceptance of Google Pay for a seamless transaction experience.
The crypto market is constantly evolving, with new opportunities emerging for savvy investors. As the bull run of 2024 picks up pace, select cryptocurrencies priced below $1 are gaining attention. These tokens offer potential for growth and present an accessible entry point for those looking to diversify their portfolio or step into the burgeoning market. This article highlights five such cryptocurrencies poised for attention in May, each with unique features that could make them stand out in this competitive space.
BlastUP Presale Hits $6 Million, Investors Hurry to Buy $BLP Before May Ends
The ongoing BlastUP presale is close to completion, as it has already passed the important threshold: over $6 million have been raised so far. More than 15,000 savvy investors have already bought BlastUP tokens before their value skyrockets.
The presale runs until the end of May, so there is some time to boost your crypto holdings with BlastUP, the asset poised for explosive returns of up to 1000%. Currently sold at a few US cents, BlastUP tokens are projected to reach $10 by the end of this year.
Holders of BlastUP tokens may benefit from a number of privileges including participation in an Airdrop , exclusive loyalty rewards for participating in IDOs, and the ability to earn interest through staking.
BlastUP stands out from the crowd in the crypto world. Backed by Blast, the sixth largest blockchain by TVL, it offers genuine utility as a launchpad for DApp ventures. With its motto Grow faster, earn more, BlastUP is dedicated to propelling the success of blockchain startups. Those who join BlastUP now become part of a project poised to become the next big thing in this bull run.
>> Time is Ticking – Buy $BLP Before May Ends! <<
Understanding Polygon (MATIC) Market Movements
The current price of Polygon (MATIC) is moving within a range of $0.63 to $0.74. Over the past week, it has dropped by 1.01%. It also decreased by 3.24% in the last month, and looking back six months, it fell by 18.70%. This suggests that the price movement is in a corrective phase. The RSI at 72.70 indicates the coin may be overbought. With prices below the first resistance of $0.82 and above the nearest support of $0.59, MATIC’s immediate future will likely depend on whether it can maintain its position above this support level.
Ondo Crypto Market Continues Impressive Growth
The Ondo token (ONDO) has shown significant growth over six months, skyrocketing by 2716.63%, with its price moving between $0.73 and $0.87 recently. Despite a 1 Week Price Change increase of 6.23%, it faced a dip of 6.41% over the past month. Currently, Ondo is trading close to its 10-day and 100-day average prices of $0.81 and $0.78, respectively. With a high RSI of 81.58 and Stochastic at 94.06, the coin’s price appears to be in an impulsive move, suggesting strong buying activity. If Ondo can overcome the nearest resistance at $0.95, the next target lies at $1.09, while support levels are at $0.68 and $0.54, respectively.
XRP Price Movement Analysis and Predictions
The XRP coin is trading between $0.47 and $0.55. In the last week, its price fell slightly by 1.09%. However, over the past month, it rose by 3.30%. Comparing now to six months ago, it’s down by 15.09%. The coin faces its next resistance at $0.60 and has support at $0.44. Its price moves are currently showing rapid increases, which could mean it’s in an impulsive phase. With a high RSI of 76.77 and Stochastic at 95.60, caution is advised as these levels often suggest the coin might be overbought. The MACD is positive, hinting at potential further growth.
Conclusion
The cryptocurrencies under $1 worth keeping an eye on in May include MATIC, ONDO, and XRP, though these may offer limited short-term gains. However, BlastUP stands out with the most significant potential. This project is attractive due to its innovative concept and its integration within the well-established Blast ecosystem. Investors looking for promising opportunities might find BlastUP particularly interesting.
Site: https://blastup.io/
Twitter: https://twitter.com/Blastup_io
Discord: https://discord.gg/5Kc3nDhqVW
Telegram: https://t.me/blastup_io
The landscape of blockchain technology is constantly evolving, with fresh solutions emerging to tackle the challenges of today’s networks. As we step into 2024, a bull run is energizing the market, pushing investors and enthusiasts to look closely at the next batch of innovative projects. Layer 2 developments are at the forefront, enhancing performance and broadening the scope of what these platforms can do. This article delves into the most promising Layer 2 initiatives that are poised to make significant strides this year. Stay tuned to discover which ones could potentially reshape the future of blockchain efficiency and application.
Over $6 Million Raised: BlastUP Presale Continues, Offering Up To 1000% Potential ROI
BlastUP has been getting a lot of attention lately thanks to its high potential to become a major force in the crypto industry. This pioneering launchpad on Blast has already attracted over 15,000 active users.
The ongoing presale of BlastUP is a huge success, more than $6 million raised so far. The BlastUP token is considered by crypto experts as a hidden crypto gem that can skyrocket 1000% by the end of this year.
>> Buy BlastUP Tokens Now for Maximum Returns! <<
BlastUP helps crypto startups grow faster and earn more. As BlastUP forges ahead, it remains committed to creating a global hub for the Blast community. BlastUP is rapidly gaining traction for the benefit of all participants in this ecosystem.
BlastUP’s roadmap extends into 2026, promising the introduction of AI-driven tools and the Community Marketplace, further enriching the ecosystem’s capabilities.
The BlastUP token, a cornerstone of the platform, unlocks access to tiered IDO launches, staking rewards, and exclusive loyalty benefits.
>> Join BlastUP Now or This Rocket Will Take Off Without You! <<
Optimism Price Analysis: Bullish Momentum Ahead?
Optimism (OP) prices are on the rise, currently trading between $2.33 and $2.86. In the last week, OP dropped by 6.49%, but the monthly view shows a 7.25% increase. Over six months, the coin has grown by 38.20%. The RSI at 62.04 suggests that OP is not overbought, while a high Stochastic of 93.63 could mean prices might take a pause. The MACD at 0.01 points to a neutral momentum. The coin is showing bullish signs as it hovers above its 10-day and 100-day moving averages of $2.45 and $2.49, respectively. With the nearest resistance at $3.19 and support at $2.14, optimism might be gearing up for an impulsive move towards higher prices.
Understanding Polygon (MATIC) Market Movements
The current price of Polygon (MATIC) is moving within a range of $0.63 to $0.74. Over the past week, it has dropped by 1.01%. It also decreased by 3.24% in the last month, and looking back six months, it fell by 18.70%. This suggests that the price movement is in a corrective phase. The RSI at 72.70 indicates the coin may be overbought. With prices below the first resistance of $0.82 and above the nearest support of $0.59, MATIC’s immediate future will likely depend on whether it can maintain its position above this support level.
Conclusion
In the surge of 2024’s bull run, several Layer 2 projects stand out, but short-term potentials for OP and MATIC seem modest compared to a more compelling option. BlastUP is at the forefront for investors focused on substantial growth. This project is gaining traction due to its innovative approach and the advantages offered by its integration with the Blast ecosystem. With its solid concept and ecosystem support, BlastUP is poised to outshine its peers in terms of potential.
Site: https://blastup.io/
Twitter: https://twitter.com/Blastup_io
Discord: https://discord.gg/5Kc3nDhqVW
Telegram: https://t.me/blastup_io
Gamestop Moon (GMEMOON) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Gamestop Moon (GMEMOON), a new Solana memecoin that was launched today, is poised to explode over 9,000% in price in the coming days.
This is because GMEMOON has announced its first centralized exchange listing, which will be on Huobi.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Gamestop Moon can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Gamestop Moon could become the next viral memecoin.
Gamestop Moon launched with over $7,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Gamestop Moon on Raydium or Jupiter ahead of the Huobi listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Gamestop Moon by entering its contract address – Bpb4YRRLgpeQByou2kcffQFFx3FGhnqaHfba8wM315wH – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like GMEMOON.