Stone (0NE) news

StakeStone (STO): Revolutionizing Omnichain Liquidity for ETH and BTC

What is StakeStone (STO)? StakeStone (STO) is an omnichain liquidity infrastructure platform committed to building the first stable, yield-bearing liquid ETH and BTC assets. By leveraging an adaptive staking network, StakeStone supports various risk-free consensus layers with native assets, optimizing yield opportunities through adaptable underlying strategies and an on-chain proposal mechanism. The platform seamlessly redistributes liquidity across multiple ecosystems and protocols, aiming to establish new standards for liquid assets and enhance liquidity distribution within the DeFi landscape. Who Created StakeStone (STO)? StakeStone was co-founded by Charles K, who envisioned creating a next-generation omnichain liquidity infrastructure for decentralized finance. The team's mission is to drive innovation and global adoption of their products by integrating real-time high-performance blockchain networks, thereby propelling the crypto industry into the era of super applications. What VCs Back StakeStone (STO)? In November 2024, StakeStone announced the successful completion of a $22 million investment round led by Polychain Capital, a prominent venture capital firm specializing in blockchain-based projects. This funding round also saw strategic investments from Binance Labs and OKX Ventures, with additional participation from investors such as SevenX, Nomad Capital, HashKey Capital, HashKey Cloud, Amber Group, Coinsummer, Bankless Ventures, DAO5, Symbolic Capital, Arcane Group, and Quantstamp. This substantial financial backing positions StakeStone for accelerated growth, enabling the expansion of its product offerings and the strengthening of its presence in key markets. How StakeStone (STO) Works StakeStone operates by introducing innovative products designed to enhance the liquidity and utility of BTC and ETH assets within DeFi ecosystems. Its key components include STONE, SBTC, STONEBTC, and STO. 1. STONE: The Liquid Staking Solution for ETH STONE is StakeStone’s flagship liquid staking token for ETH, designed to enhance Ethereum staking efficiency while maintaining liquidity. Traditional ETH staking requires users to lock their assets for an extended period, limiting their ability to use staked ETH in DeFi. STONE solves this problem by providing a liquid representation of staked ETH, allowing users to earn staking rewards while retaining flexibility in DeFi applications. Key Features of STONE: ● Omnichain Liquidity: STONE can move across multiple blockchains, ensuring broad accessibility. ● Enhanced Capital Efficiency: Users can stake ETH, receive STONE, and continue using it in DeFi without waiting for unstaking periods. ● Yield Optimization: STONE automatically accrues staking rewards, offering a passive income stream. How STONE Works: ● ETH Staking: Users stake ETH via StakeStone’s protocol. ● Receive STONE: In exchange, they receive STONE, which represents their staked ETH. ● Use STONE in DeFi: STONE holders can trade, lend, or provide liquidity while still earning staking rewards. ● Unstaking Process: When users want to withdraw their ETH, they can redeem STONE for ETH at a 1:1 ratio, with processing times varying based on network conditions. By integrating STONE into DeFi ecosystems, StakeStone ensures that staked ETH remains liquid and productive. This approach allows users to maximize their staking rewards while maintaining full flexibility in their investment strategies. 2. SBTC: StakeStoneBTC SBTC is designed to act as a liquid, index BTC, addressing the issue of illiquid native BTC assets by providing robust omnichain liquidity. This solution facilitates BTC asset trading and enhances the utility of native BTC within Ethereum Virtual Machine ecosystems, as well as other Layer 1 and Layer 2 networks. SBTC is composed of a diversified basket of ERC20 tokens, primarily BTCB, ensuring a solid foundation of liquidity. Key Features of SBTC: ● Manifold Use Cases: Through collaboration with leading ecosystems and blue-chip DeFi protocols, SBTC offers a wide range of use cases, such as participation in various DeFi protocols on platforms like Berachain. These applications generate additional yields for SBTC holders and unlock the potential of more BTC assets. ● Omnichain Liquidity: SBTC provides seamless liquidity across multiple chains, addressing the liquidity fragmentation problem inherent in existing BTC derivatives. Upon launch, SBTC benefits from immediate omnichain liquidity, facilitated by mechanisms like Native's PMM, which ensures optimal pricing and liquidity depth. ● Instant Withdrawals: Users can enjoy instant withdrawals at a 1:1 BTC ratio, leveraging BTCB's liquidity to ensure that SBTC holders can easily convert their assets into native BTC. 3. STONEBTC: Yield-Bearing BTC Derivative STONEBTC is a yield-bearing BTC derivative designed to unlock the full earning potential of Bitcoin holdings while maintaining seamless liquidity across DeFi ecosystems. By integrating advanced BTC yield strategies across decentralized finance, centralized decentralized finance, and real-world assets, STONEBTC allows users to earn sustainable yields without sacrificing flexibility or utility. Key Features of STONEBTC: ● Automatically Optimized Yields: STONEBTC provides users with access to advanced, automatically optimized yield strategies. By leveraging diverse yield sources, including Bitcoin staking and restaking networks like Babylon and Symbiotic, STONEBTC dynamically allocates assets to maximize returns, offering a seamless, hands-off experience. ● Omnichain Liquidity: STONEBTC ensures liquidity for time-locked BTC assets, providing users with flexible methods for exit liquidity across various blockchain networks. ● Enhanced Capital Efficiency: By allowing users to earn yields while retaining the ability to utilize their assets in DeFi activities such as DEX trading, lending platforms, collateralized debt positions (CDP) collateralization, derivatives trading, and GameFi, STONEBTC enhances capital efficiency. How STONEBTC Works: ● Deposit: Users deposit their SBTC or LBTC into StakeStone’s protocol. ● Conversion: The holdings are automatically converted into STONEBTC. ● Yield Generation: From the moment of deposit, STONEBTC begins generating yield through StakeStone’s underlying strategy vaults, which integrate multiple yield sources by combining the innovation of DeFi protocols, the stability of CeDeFi institutions, and the growth potential of RWA projects. ● Withdrawals: Users can request a withdrawal of their STONEBTC holdings at any time. StakeStone, in collaboration with its market maker, ensures that withdrawals are processed and completed within a timeframe ranging from immediately to seven days, balancing asset security with efficient liquidity management. 4. STO: Governance and Liquidity Incentives STO is the governance token of StakeStone, allowing users to participate in decision-making and influence key protocol parameters. StakeStone employs a vote-escrowed token model where users can lock STO to receive veSTO, which grants governance power and additional rewards. Key Features of STO: ● Governance Power: veSTO holders can vote on emission allocations, protocol fees, and strategic integrations. ● Liquidity Incentives: veSTO holders receive boosted rewards from liquidity mining programs. ● Bribe Rewards: Protocols can offer incentives to veSTO holders in exchange for directing liquidity towards specific pools. How STO Works: ● Users acquire STO through staking rewards, liquidity mining, or direct purchases. ● STO can be locked to mint veSTO, which grants voting rights and boosts rewards. ● After a 30-day vesting period, veSTO can be converted back into STO. STO Goes Live on Bitget StakeStone is redefining liquidity in the crypto space by offering seamless omnichain solutions for ETH and BTC assets. With its liquid ETH staking (STONE), yield-bearing BTC (STONEBTC), and omnichain BTC liquidity (SBTC), StakeStone bridges liquidity gaps and enhances capital efficiency across multiple blockchains. The platform’s governance token, STO, empowers users to shape the protocol while earning additional rewards through veSTO staking, liquidity incentives, and bribe markets. As StakeStone continues to expand, STO’s role in governance and liquidity allocation will become increasingly valuable. For traders and investors looking to capitalize on the growth of omnichain liquidity, STO presents an opportunity to engage with StakeStone’s ecosystem while benefiting from its liquidity incentives and governance influence. With STO available for trading on Bitget, it’s easier than ever to gain exposure to the future of DeFi liquidity solutions. Deposit Available: Opened Trading Available: 3 April 2025 (UTC) Trade STO/USDT now! StakeStone (STO) to be listed on Bitget Launchpool — lock BGB to share 3,150,000 STO! Locking period: 3 April 2025, 13:00 – 4 April 2025, 13:00 (UTC) Lock Now Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Institutional Predictions and Valuation Insights: $100K, $1M, $3M

Institutional price forecasts for Bitcoin crossing $100,000 are underpinned by rigorous analyses, often grounded in the valuation models discussed in this article. These projections align Bitcoin’s attributes with established financial frameworks for both quantitative and qualitative justification for its growth. VanEck: Scarcity and Digital Gold Dynamics VanEck projects Bitcoin’s price to reach $180,000 by 2025, grounded in principles that align with key valuation models such as stock-to-flow, Metcalfe’s Law, the production cost model, and the Total Addressable Market (TAM) model. Central to VanEck’s analysis is Bitcoin’s fixed supply cap of 21 million coins, a cornerstone feature that mirrors gold’s limited availability. However, Bitcoin goes further with its programmed halvings, such as the April 2024 event that reduced block rewards to 3.125 BTC. This halving effectively halved Bitcoin’s new supply, heightening scarcity and doubling its stock-to-flow ratio to approximately 120—the highest in its history. As highlighted in the stock-to-flow model, this scarcity directly drives upward price momentum and supports Bitcoin’s trajectory toward $180,000. VanEck also underscores Bitcoin’s increasing adoption, which is a critical component of Metcalfe’s Law. The firm notes substantial growth in retail and institutional participation, with $143 billion worth of Bitcoin now held across ETFs, public and private companies, and national reserves. This exponential increase in network activity, combined with the approval of spot Bitcoin ETFs, aligns with Metcalfe’s Law, which links user base expansion and network effects to exponential value growth. The development of Layer 2 solutions, such as the Lightning Network and RGB protocol, further amplifies these effects by enabling innovations like tokenised real estate and digital assets, making Bitcoin an increasingly versatile and functional network. The Total Addressable Market (TAM) model also validates VanEck’s projections by positioning Bitcoin within a $1.9 trillion market. Bitcoin’s current market capitalisation reflects only a small fraction of its potential market share in asset classes such as gold, fiat currencies, and tokenised financial systems. The democratisation of Bitcoin investments through regulated ETFs has broadened accessibility and liquidity, allowing it to compete more effectively for a larger slice of the global financial ecosystem. Finally, the production cost model provides an additional lens to understand Bitcoin’s price dynamics. The 2024 halving has significantly increased miners’ costs by reducing block rewards, pushing the average global production cost to around $85,000. As VanEck notes, this higher production cost serves as a rising price floor, ensuring that Bitcoin’s valuation remains sustainable as demand increases and supply tightens. Bernstein Research: Exponential Adoption and Institutional Catalysts Bernstein's forecast that Bitcoin reaching $200,000 by the end of 2025 in a new era of institutional dominance and exponential network effects is supported by valuation models like Metcalfe’s Law, the production cost model, and the stock-to-flow model. Their 160-page report highlights the role of institutional investors, with $190 billion projected to flow into Bitcoin ETFs by 2025—tripling from $60 billion in late 2024. Bernstein argues this structural demand will elevate Bitcoin from a niche asset to a mainstream financial cornerstone. Key catalysts include Donald Trump’s pro-crypto presidency and potential regulatory reforms, which could enable Bitcoin to capture up to 15% of its circulating supply through ETFs by 2033. This aligns with the Total Addressable Market (TAM) model, as institutional adoption expands Bitcoin’s share of global assets. The production cost model bolsters Bernstein’s projection, with the 2024 halving significantly increasing mining costs and creating a “natural scarcity shock.” Historical trends show Bitcoin prices often peak at multiples of marginal production cost post-halving, supporting their $200,000 target. Finally, Metcalfe’s Law underscores Bitcoin’s exponential growth as network adoption surges through ETF participation and infrastructure advancements. By combining these valuation frameworks, Bernstein highlights Bitcoin’s strong foundation for continued growth, solidifying its role in the global financial ecosystem. Standard Chartered: Political Catalysts and Broader Asset Adoption Standard Chartered forecasts Bitcoin reaching $125,000 by late 2024, with a target of $200,000 by the end of 2025. Their analysis incorporates the production cost model, highlighting the impact of the 2024 halving, which significantly raised mining costs by halving block rewards to 3.125 BTC. This rising production cost establishes a higher price floor that supports Bitcoin’s upward trajectory. The bank also points to scarcity dynamics (align with the stock-to-flow model), as reduced supply post-halving combines with growing demand to drive price appreciation. Standard Chartered attributes Bitcoin’s immediate momentum to Donald Trump’s re-election, which has catalysed market optimism through pro-crypto policies. These include the potential repeal of restrictive regulations like SAB 121 and new stablecoin legislation, creating pathways for broader institutional adoption. The bank views these political developments as key drivers of mainstream digital asset integration towards regulatory clarity and boosted market sentiment. Beyond scarcity, Standard Chartered highlights Bitcoin’s expanding utility, particularly in decentralised finance (DeFi) and tokenisation. These innovations align with the Total Addressable Market (TAM) model, as Bitcoin increasingly competes with gold and traditional financial instruments for a share of global asset markets. By serving as digital collateral and enabling tokenisation of assets, Bitcoin strengthens its foothold in the global financial system. The $1 Million Bitcoin: Long-Term Vision Proponents of Bitcoin’s long-term potential, including Arthur Hayes, VanEck, and other analysts, view $1 million as a realistic milestone within the next decade, underpinned by transformative macroeconomic trends, scarcity dynamics, and technological innovation. Arthur Hayes, former CEO of BitMEX, predicts Bitcoin will reach $1 million during Donald Trump’s presidency, driven by aggressive fiscal and monetary policies. Hayes argues that the U.S. government’s focus on devaluing the dollar to boost competitiveness, combined with substantial credit injections, will fuel inflation and benefit fixed-supply assets like Bitcoin. He also highlights the correlation between expanding bank credit and Bitcoin’s price performance, suggesting that the asset is already responding to anticipated inflationary pressures. This aligns with his earlier forecast of Bitcoin reaching $250,000 by 2025 as a stepping stone toward the $1 million mark. The Stock-to-Flow model, as illustrated in BitBo’s projections, also outlines a pathway to $1 million. This model ties Bitcoin’s value directly to its scarcity and therefore predicts exponential price increases following halving cycles. The 2024 halving has already doubled Bitcoin’s stock-to-flow ratio to 120, surpassing gold’s scarcity levels. If historical patterns hold, Bitcoin’s price could reach $1 million in 2025 or 2030 by the latest. Source: BitBo VanEck’s forward-looking analysis positions Bitcoin's growing importantce global financial system by projecting that it could transition into a reserve asset valued at $3 million per coin by 2050. This ambitious target relies on Bitcoin securing just a modest 2% allocation within global central bank reserves but driven by its unique attributes: trustlessness, immutable monetary policy, and unparalleled property rights. VanEck underscores Bitcoin’s potential to surpass gold in terms of market capitalisation with a $61 trillion valuation estimation if it is widely adopted for cross-border trade and central bank holdings. With Layer-2 solutions enabling Bitcoin to scale for tokenised assets and complex transactions, VanEck envisions a financial landscape where Bitcoin underpins both institutional stability and decentralised innovation. In their view, the convergence of economic shifts, regulatory clarity, and technological advancements makes Bitcoin’s ascent to $1 million—and beyond—not just probable but a logical culmination of its inherent strengths. Conclusion Bitcoin’s valuation at $99,000 is far from a speculative anomaly. By combining scarcity, adoption, and macroeconomic drivers, VanEck, Bernstein, and Standard Chartered collectively project a price range of $125,000 to $200,000 by the end of 2025. Meanwhile, long-term visions such as Arthur Hayes’ $1 million prediction illustrate Bitcoin’s unparalleled potential to reshape global markets. These insights reaffirm Bitcoin’s unique position at the intersection of innovation and finance. Whether viewed through the lens of digital gold, a decentralised store of value, or an uncorrelated portfolio diversifier, Bitcoin’s rise represents a structural transformation in global asset markets. As catalysts such as halving cycles, regulatory clarity, and institutional adoption converge, the path to $100,000 and beyond appears both compelling and achievable. Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Today's Hamster Kombat Mini Game for September 12, 2024

As we gear up for another thrilling day in the world of Hamster Kombat, it's time to explore the latest updates and make the most of your rewards leading up to the eagerly anticipated airdrop. Discover the significance of earning keys, the Playground feature, and their connection to the game's ecosystem and airdrop strategy. Whether you're tackling the daily combo, deciphering the cipher, or conquering the mini-game, we've prepared informative guides and valuable insights for September 12, 2024. Make sure to register on Bitget today to claim your 6200 USDT gift package! Key Takeaways Today's Hamster Kombat Mini Game for September 12, 2024: Unlock your golden key. Hamster New Cards: Best Restaurant. Unlocking Keys: The importance of earning keys and the playground in Hamster Kombat. Daily Combo and Daily Cipher: Here is the answer for today's daily combo, and daily cipher. Today's Hamster Kombat Mini Game for September 12, 2024: A video guide Unlocking Keys: The Playground of Hamster Kombat The Playground in Hamster Kombat consists of 10 games that award players keys. There are nine external games that need to be downloaded from the App Store or Play Store. These games include Stone Age, Train Miner, Mow and Trim, Chain Cube 2048, Merge Away, Polysphere, Twerk Race, Zoopolis, and Tile Trio. To earn keys, players must complete specific tasks within these games and then enter the codes they receive into Hamster Kombat. Each playground game offers a total of four keys to earn, while the puzzle mini-game offers one daily key. The Importance of Earning Keys in Hamster Kombat's Airdrop The game rewards players with keys, which are a crucial part of determining the airdrop allocation for each player. Keys are one of six components listed on the game's Airdrop menu and play a significant role in the game's ecosystem. Earning keys can boost a player's airdrop and is an essential aspect of the game's sustainable platform. Additionally, third-party games integration test is crucial for the development of a big publishing platform that will ensure long-term token utility. This strategy hints at potential cross-pollination in the future after the token launches. Earning keys adds a unique element to the game and separates it from typical crypto-related activities. Sign Up on Bitget Today and Be Ready To Trade the HMSTR Token!

Gear Up For Glory: Bitget's KCGI 2024 Is Happening

Welcome, digital daredevils and financial wizards! Bitget is rolling out the red carpet for an event that's not just big — it’s monumental! Buckle up, dear traders, for our first King’s Cup Global Invitational (KCGI) of the year 2024, where ambition meets action, and every click can turn the wheels of fortune. So, grab your digital gear and let’s delve deep into the thrilling world of Bitget's KCGI 2024 — the trading spectacle you certainly don’t want to miss. Join KCGI 2024 today! Why All The Excitement? This isn't just any contest; it’s a festival of finance, a carnival of cryptocurrency that beckons the brave and rewards the resolute. Whether you're a seasoned trader ready to throw down the gauntlet or a fresh face eager to test the waters, this invitational is your battlefield: one brimming with opportunities to carve your name in the digital stone of crypto history and to pot a pool of prizes that could make Croesus blush. Let's peel back the curtain and delve into the intricate specifics that make Bitget's KCGI 2024 a trading spectacle unlike any other. The Prize Extravaganza The stakes are sky-high at Bitget's KCGI 2024, with a prize pool that grows with the gathering. Yes, you heard right—the more participants, the bigger the prizes. Starting from a cozy 100,000 USDT for 8,000 participants and swelling to a whopping 5,000,000 USDT for 200,000+ traders, this is where fortunes are forged! Below are your guidelines for participating in this grand gala. Recruitment master award: The team captain will receive a crypto voucher as a reward if their teams meet the required number of team members. Newcomer recruitment award: The team captain will receive a crypto voucher as a reward if the team's membership meets the required number of new users. Early bird reward: The first 3 team members (excluding the team captain) to join one of the first 200 teams formed during the early bird period (May 24-May 25) will get 10 USDT. Task completion award: All users who register within the specified period, hold at least 100 USDT in their futures account during the official competition period, and successfully form a team will receive 1 USDT futures trading bonus. Messi tribute prizes And there’s a cherry on top! Participate in the Messi tribute prizes. Just imagine—trading your way to not only monetary mastery but also potentially winning a Ferrari or a Messi signed jersey among other fabulous prizes. Users who successfully register for KCGI 2024 and reach a cumulative futures trading volume of 60,000 USDT during the competition period will be eligible to participate in the lucky draw. These special rewards will be unveiled in a glittering livestream the day after the competition ends. So, stock up, sign up, and set the stage for success. Be the captain of your ship or join as a crew; either way, you’re setting sail towards potential treasures! The Competitive Arenas Team Battle The Team Battle is where synergy and strategy come alive! Teams vie against each other, with their combined profit and loss (PnL) and trading volume determining their standings. This intense competition not only tests your team's market acumen but also their ability to work under pressure. The top teams can carve up 60% of the total prize pool, making every trade and transaction count. Individual Competition For the lone wolves and solo flyers, the Individual Competition provides a stage to shine independently. Here, traders can demonstrate their personal trading skills, with the top 100 traders by individual PnL and trading volume sharing 30% of the overall prize pool. It's your chance to prove that sometimes, one can indeed make a difference! Newcomer Challenge New to Bitget? No problem! The Newcomer Challenge is specially designed for traders who have joined Bitget during the promotion period. This segment offers a welcoming platform to compete, learn, and gain. Newcomers can show off their trading prowess, with the top performers by PnL and trading volume sharing 10% of the total prize pool. It’s a fantastic way to start your trading journey! Daily Rewards From May 24 to June 27, participants have the unique opportunity to engage in the first-ever daily competitions that extend beyond traditional trading. Each day, traders can earn up to three chances to open a Mystery Box, which comes in three variants: bronze, silver, and gold, each containing different potential rewards. These daily tasks are designed to add an extra layer of excitement to the competition, with rewards structured to incentivise performance and active engagement. The top trader each day earns the Top Performer’s Trophy that is accompanied by 100 BGB and a Certificate of Honour. Those ranking second to fifth are awarded 50 BGB each, while those who finish sixth to tenth will each receive 20 BGB. These rewards drive traders to increase their volume and refine their strategies to climb the daily leaderboards. Remember that completing tasks not only opens opportunities for these rewards but also boosts your trading skills and hands-on experience. The Important Dates - Mark Your Calendars! Set your reminders and prepare your planners for below are the crucial dates that chart the course of Bitget's KCGI 2024. From registration kick-offs to the final clash, each moment is a pivotal step in your trading journey! Warm-up period: May 15 - May 16 Kick things off with the warm-up period. It's like stretching before the marathon — essential to get your trading muscles limber and ready for the grand spectacle ahead. Use this time to strategise and synergise with your team. Captain’s call to arms: May 17 - June 06 Team captains, assemble! Registration for captains starts bright and early on May 17. Being early has its perks, including more time to recruit the best, strategise, and maybe snag some of those early bird rewards. Team member registration: May 24 - June 06 All hands on deck! Team member registration begins on May 24. Make sure your team is locked and loaded with all members on board to navigate the tumultuous seas of the crypto market together. Last call: June 07 - June 12 Some extra time for those who find out about the party too late! Even if you can assemble your dream team just in time, you still have two weeks left to unleash your unparalleled trading prowess. Official Competition: June 07 - June 27 The main event! From June 07 to June 27, the trading arena will be abuzz with action. This is your time to shine, to trade with the tenacity of a tiger and the wisdom of a sage. How To Shine In Bitget's KCGI 2024? Eager to make your mark in Bitget's KCGI 2024? Here are some top tips to help you sparkle and dominate the trading arena: Early birds get the bonus Don’t dilly-dally—registering early not only ensures your spot but also positions you advantageously in the planning phase. Get a jump on the competition and set the pace. Strategy is King This isn’t a mere battle of bankrolls. Strategy, skill, and a bit of savvy speculation set the winners apart from the crowd. Whether it’s reading the markets like an open book or making moves at the most opportune moments, your tactics will define your triumphs. Stay informed and interact Knowledge is power! Stay updated with market trends, and don’t forget to engage with your team. After all, every captain needs a crew that’s clued up and keyed in. Plus, the camaraderie could just make the whole experience a lot more fun! Beyond Trading Beyond the bustling trade floors, Bitget's KCGI 2024 offers a kaleidoscope of additional delights as follows: Language is no barrier With extensive language support from English to Español and 日本語 to Русский, Bitget's KCGI 2024 invites you to be part of this financial fiesta, no matter where you are in the world. Messi magic And there’s a cherry on top! Participate in the Messi tribute prizes. Just imagine—trading your way to not only monetary mastery but also potentially winning a Ferrari or a Messi-signed jersey among other fabulous prizes. Ready to roll? As we gear up for this spectacular event, remember that Bitget's KCGI 2024 is more than just a competition. It’s a celebration of strategy, a testament to tenacity, and a gathering of global traders each eager to claim their slice of victory. So why just read about legends when you can become one? Sign up, strategise, and let the games begin! Ready, set, trade !

Stay Alert, Stay Safe: Navigating Scam Awareness Week with Bitget

This week marks an important event in Australia – Scam Awareness Week. At Bitget, we are committed to ensuring the safety and security of our users, and we take this opportunity to remind you of the importance of staying vigilant against scams. According to the Australian National Anti-Scam Centre, in 2023 alone, a total of AUD$92 million has been stolen by scams – which is a significant chunk of people's earnings. While we've worked night and day enhancing our platform's security, we don't want you to be the next victim. Let's take a brief walk of how scammers can waltz into your daily life: 1. Phishing scams are prevalent, often manifesting as urgent emails about unauthorized access, texts about time-sensitive rewards, or fake customer support messages from crypto exchanges. These scammers use tactics like creating a sense of urgency to provoke quick action. Learn more about smart strategies to counter phishing scams. 2. In addition to phishing, be aware of other cryptocurrency scams like Ponzi schemes, fake ICOs/IEOs, and hacking attacks. These scams typically aim to steal sensitive information like passwords or private keys. Read our article on The Dark Side of Cryptocurrency: Scams and Fraud to Watch Out For. 3. Bitget offers comprehensive security measures to protect your assets, including Two-Factor Authentication (2FA), advanced security settings, and device management. Here is an advanced security guide on Bitget to make it easy for you to set up these features. We also encourage you to share your experiences and insights. If you've encountered a scam attempt or have tips on staying safe, please share them. Your input is invaluable in helping others. Together, we can create a safer environment for everyone in the crypto space. Let's use Scam Awareness Week as a stepping stone towards heightened vigilance and security, and let’s stay up to date by learning more with Bitget Academy! Good reads Your Guide to Defeating Phishing Scams Scams and Fraud to Watch Out For Beyond Passwords: An Advanced Security Guide on Bitget Bitget Cold Storage: A Secure Way to Store Digital Assets $300M Bitget Protection Fund to Protect User's Assets Poloniex Hack, Create2 Exploitation, and Protecting Your Digital Asset

BGB Sail: April Edition

Our BGB Sail Series provides an in-depth analysis of BGB performance, together with a recap of the market situation at the end of each month. Bitget Annual Briefing 2022-23 can be found here: Part 1 / Part 2 / Part 3. Market Summary April looks like a cooling-off period. Data from The Block shows that the monthly volume of Bitcoin futures on CEXs went down by nearly 30% to US$901 billion, while the Open Interest of such contracts decreased slightly by 1%. Source: lars0x The same happened to most CEXs’ spot markets. However, it is worth noting that while the aforementioned drop in BTC futures volume didn't cancel out the so-called market progress we've been witnessing since the new year, April spot volume is only slightly higher than December 2022’s levels. These figures are still way above those of the bull run in 2020, though. Source: lars0x Does it mean that people are, once again, turning their back on crypto? Sorry sceptics, the answer is a firm no. A research by the Deutsche Digital Assets discloses an annual growth rate of approximately 87% for verified crypto users, with the latest stand of 420 million as of April. Don't skip the term ‘ID-verified' a.k.a KYC’ed; the majority of crypto activities take place on-chain, where anonymity is valued (almost) above anything else, hence the actual adoption rate must definitely be higher. Source: Deutsche Digital Assets Besides Bitcoin and Ethereum, USDT should be the one token owned/acquired by most crypto beginners. Why? Because it is easier to get on-/off-ramps, and USDC is most popular in the U.S. Source: Kaiko Analytics Being good at its job as a stablecoin, USDC has been more successful at sticking to its peg since late March. On the other hand, USDT has been trading at a premium on CEXs for the last two months, meaning general market participants are holding USDT in higher regard than USDC. After the collapse of Terra (LUNA) as well as a prolonged bear market in 2022, USDT is the only one to have regained its pre-Terra market cap of over US$80 billion. It still dominates the stablecoin market, especially with BUSD dead as Binance is under scrutiny and TUSD, the stablecoin promoted by Binance, showing liquidity weaknesses with its depeg on May 02 as a result of heavy borrowing pressure in DeFi. On a side note, the European Parliament had voted on the passing of their landmark Markets in Crypto-Assets (MiCA) on April 20, 2023, with 517 votes in favour, 38 against, and 18 abstentions. This allows MiCA to take effect in around Q3 2024 and EU to score a first-mover advantage when it comes to crypto regulation. The main focus of MiCA revolves around the oversight of crypto asset service providers (CASPs), which include any company that offers crypto and crypto services even if they are not the issuer of a token. NFTs and crypto lending are not explicitly covered by MiCA, but stricter stablecoin regulations are to be expected. Around the same time, the U.S. House of Representatives released a discussion draft bill on stablecoins with no official notice. Key points of this draft bill include the registration of stablecoin issuer(s) with the Federal Reserve (FED), a two-year ban on stablecoins without physical backing, interoperability standards for stablecoins and a request for FED's study of a digital Dollar. BGB Performance in April BGB volume remained steady for most of April compared to the volatility spotted in March. It is safe to say that we have finally reached a period of stabilised growth in BGB demand: BGB April volume equals 3.3 times that of January, 1.7 times the average BGB volume in Q1 2023 and 2.7 times the average of Q2 2022. Data source: Yahoo Finance, CoinGecko BGB price has constantly been following an upward trend. Looking at the 7DMA, it’s easy to spot out the similarities between January and April - first and foremost a consistent increase in prices on a weekly basis, then a small correction before the sudden upsurge. The tight weekly range, demonstrated by the difference between each week's high and low, over the course of January - early February and late March - mid April can be considered a stepping stone towards new breakouts, and eventually to new highs; it is a reflection of traders' expectation. Trend lines for weekly highs and lows are also predicting higher BGB prices towards the remainder of the year, which is set in motion by the boundless development of Bitget. The release of the official BGB White Paper must have helped many BGB supporters reaffirm their faith in this wonderful token. It is accompanied by a series of celebrating events, including the BGB Lotto, BGB Staking, 40% APY BGB pool on Bitget Launchpool, and the BGB exclusive trading and referral promotion. BGB holders will soon be able to receive new tokens for FREE - the event is set to begin on May 23, 2023 and share 80,000 BGB in our BGB Super Airdrop Campaign! A new VIP system has also been introduced to give BGB diamond hands extra privilege in our ecosystem. To join our VIP group, you can either hold 50,000 USDT in your Bitget spot account or 100,000 BGB (around US$40,000 at the time of writing)! Benefits are the same but favourable requirements are applied for BGB holders as our way of saying thank you. Become a VIP today simply by owning BGB! See yourself how BGB has repeatedly impressed the whole market with its splendid performance: BGB Sail: March 23 Edition BGB Sail: February 23 Edition BGB Sail: December 22 Edition BGB Sail: November 22 Edition BGB Sail: October 22 Edition BGB Sail: September 22 Edition BGB Sail: August 22 Edition Bitget-Verse The flourishing of Bitget is undeniably integral to BGB's victory. Public recognition and customer satisfaction motivate us to relentlessly work on product improvements and developments to bring about the best crypto experience to users worldwide. Spot Futures Activities In contrast to the market-wide correction, Bitget futures volume only experienced a decrease of 16.6%, with Bitcoin dominance rising to 66.3% from last month's 66.2%. Meanwhile, Bitget spot volume recorded a joyful uptick of 12.9%, beating many other exchanges with our fantastic finds and exclusive initial listings. For anyone not yet joined the world of crypto, our Welcome Package for new traders is boosted by 20% to 5,005 USDT! Register here and complete the tasks in the Bitget Rewards Center to claim it all! Earning With Bitget We have been continuously expanding the variety of investment products on Bitget, with Bitget Range Sniper being the latest introduction. The lowest APR on Bitget Range Sniper up until now is guaranteed at 20% despite your speculation of market sentiment, and that's why Bitget Range Sniper has become the new obsession of many investors. Bitget Range Sniper differentiates itself from other earning schemes on Bitget in that the asset to be paid out is flexible. In case the market moves in the opposite direction to your prediction, you'll get the payout in Bitcoin or Ethereum, which is perfect because you can hold them and lock in the profit once prices go up. If prices progress in line with your expectation, your profits will be realised immediately by the payout in USDT. You win, either way. Also allowing investors and technical analysts to ride with the waves is Bitget Smart Trend. Bitget Smart Trend is principal-protected, which means investors have the opportunity to place a bet on BTC/ETH prices of the next seven days without worrying about losses at settlement. You can subscribe to Bitget Smart Trend with Bitcoin or Ethereum or USDT, but the gains are distributed in the form of the asset you use to subscribe. Now back to Bitget SharkFin, the original capital-guaranteed structured investment product. There are four rounds of SharkFin in April, each with full options of earning BTC from BTC deposit, earning BTC from USDT deposit, earning ETH from ETH deposit and earning ETH from USDT deposit. 100% of the cases ended up in the Shark Scenario, which is the scenario with much higher APR, hence subscribers turned out to be winners all the time. If you are an owner of BGB and/or interested in new tokens, you must check out the mighty Bitget Launchpool, which is designed to conclude in five days to avoid any radical changes in the reward tokens’ prices. Over 80,000 USDT in reward tokens have been distributed to Bitget Lauchpool subscribers of the April pools, and that comes from three rounds of farming (stake BGB/DOT to earn CAPS, stake BGB/BTC/ETH to earn DEGEN and stake BGB to earn BGB) only. Bitget Launchpad and Bitget Innovation Zone are a powerful duo offering endless earning opportunities for investors. The first IEO round of Q2 2023 - GoSleep (ZZZ) - is completed on the awesome Bitget Launchpad. Combining the unique Sleep-To-Earn concept with the power of Arbitrum, GoSleep is expected to be this year's mega project. The ZZZUSDT pair has been listed on Bitget Arbitrum Zone since April 17 with a high of nearly US$2! New to Bitget? Check out the below guides and you can start earning right away! Bitget Range Sniper | Bitget Shark Fin | Bitget Dual Investment | Bitget Smart Trend | Bitget Launchpool Join us now on these bountiful events: More rewards for inviting friends: 40,000 USDT and iPhone 14 Pro Bitget Super Airdrop: Share, Deposit, and Referral, Win Big from 80,000 BGB! Ordinals（ORDI ）listed on Bitget:Deposit to share 1000 ORDI and 50,000 BGB! FitBurn (CAL) Savings is UP, Subscribe Earn up to 80% APR! Win a Spot Copy Trading welcome gift, grab a share of 10,000 USDT, and get a 10% raise on ROI! A new referral program with even more rewards! Copy trades of new pairs, unlock $21,000 in USDT! UMAUSDT is available on One-Click Copy Trade Join the Paycoin (PCI) promotion to grab a share of 2,000,000 PCI and 30,000 USDT Join the Launchpool to share 200 billion PEEPO Bitget X CoinBureau Trading Competition: Exclusive 15,000 USDT Promo and 40K Extra Bonuses! Deposit to List: Poolz Finance (POOLX) - Deposit and Share 6,000 POOLX Rewards! Bitget Will List Kaspa (KAS) in the Innovation Zone - Share 150,000 KAS + 5,000 USDT Rewards! [Initial Listing] Bitget Will List BIP1 (BIP1) in the BRC20 Zone Simply create an account, and start exploring the incredible Bitget-Verse today!

How Will Web3 Change Our Daily Lives?

In a world where the general public is getting more and more into web3 games and is experiencing rapid adoption, whether you're already riding the wave or not, here are some thoughts on how web3 will change our daily lives. The web3, an upheaval Web3 is the vision of a decentralized internet in which digital relationships between companies and individuals are direct, disintermediated, not dependent on platforms or personal data collection but based on tokenization, NFTs, and stakeholder wallet interactions through blockchain technology. The web3 is the ability to move in the digital space but also physically with an identity, a kind of keychain, which is called a wallet and is often compared to a digital purse or a digital backpack. The web3 is therefore about moving from one site to another with this purse or digital backpack that is the wallet and that defines our digital personality. It allows us to connect to all possible spaces while keeping control over our data and having access to extremely rich engagement mechanisms. The web3 is thus this interoperability which is allowed by the wallets and the tokens which are all based on the same standards. These allow us today and even more tomorrow to connect to social networks, connect to the metaverse, and to our favorite companies/communities. How do brands understand web3? Many brands have understood the current stakes, namely the need to add intrinsic value as well as to improve traceability on the internet. Indeed, before these brands could only sell in the real world but for a little while, they can also sell on the internet. There are many aspects and many issues. It's not just the possibility of having a new line of products that are digital and that could represent a significant part of tomorrow's sales. Of course, it's an element and everyone sees that possibility. But it is much more complex because it is necessary to bring differentiation in the design and the marketing of specific products or services. This is risky and we see in particular that in the niche that is still NFTs, some brands are doing well but there are still many more that are missing out. Why? Because a product or a service must be the result of creation and therefore of a lot of know-how. This know-how cannot be invented. The web3 brands and collections that have gathered all the right ingredients and have been successful are not numerous. So brands see the opportunity to start experimenting with revenue generation through purely digital objects, but they also see all the possibilities that are enabled by interoperability, the notion of digital scarcity, the shift in personal data, and relationship management. This implies several types of NFTs: there is the NFT that is put on sale because it is the product and there is the NFT that will accompany something we have already bought or experienced. Indeed, if we are part of a program or a club, for example, this can take the form of an NFT which is not necessarily sold but which can on the other hand lower costs or generate other revenues in a direct way later on. So brands are starting to understand that this is not a small subject, that web3 is here to stay, and that it will profoundly change the way we interact and therefore the type of interface and tools we will have to get used to. Understand the problems of web2 The extension of reality is enabled by web3 and changes the relationship between the person buying and the brand selling. Arianee's Super NFTs, for example, which is enriched NFTs, are the world's most advanced ERC-721 format in any market. It is a format written, created, and deployed by Arianee since 2019. The functionality of these NFTs is quite exceptional. Today, there are two ways to interact with customers via a CRM in the digital domain: - The "first-party data", i.e. a collection of data concerning the user (his email, his phone number, his social-demographic data) followed by a storage within a database and then a treatment in order to segment. The major disadvantage of this method is that there are possible copies of databases. We all have in mind the hacking of the OpenSea database recently and Ledger in June 2020. Nobody can protect databases properly. So every time we give out personal data, there is a non-negligible chance that the companies that have it will no longer be able to control it and put us at risk of phishing. - The "third-party data" is very simple to understand. It is the use of someone else's data to reach a user. This third-party data poses a lot of problems even though it continues to anchor the digital supremacy of a few companies in the world that are very centralized and decide everything for everyone. Moreover, it is becoming more and more expensive to use and less and less efficient. We can bet that in 4 years it will be 4 times more expensive and 4 times less efficient. How is it possible to change the stakeholder relationships via web3? There is an alternative to first-party data and third-party data that we could call "zero-party data" which are tokens and NFTs. It is now possible via web3 to associate our wallet with these tokens and it certifies our interaction with another stakeholder. So, from now on, and thanks to web3, our data is not in a centralized database but in our hands. This solves the problem of storage and where the data is. It also solves the problem of centralization of systems since the link between the issuer of the token or the NFT and the user is direct. The idea is that in all interaction surfaces we can imagine a new form of disintermediated digital relations based on decentralization. It's already crazy in terms of data protection but as tokens and NFTs are natively primitives that we can evolve, gamify and some of which can have or take value depending on the dynamics and well the position of the one who has a token is very different from the one who gave his email or his birth date. Someone who has a token or NFT is engaged and wants to have something much more proactive and a stronger relationship with the brand. During a drop of 10,000 NFTs to the most engaged Yves Saint Laurent beauty fans and for the first time in the history of the web3, decentralized messages were sent to the wallets of these 10,000 people via transactions on Polygon. 40% of them clicked on the call-to-action to participate in the next drop. Super NFTs: a concrete example of the web3 revolution They have a lot of features that soulbound tokens (SBT) don't have, which are a new type of NFT that we can't exchange anymore and that we keep on our address, and they go very well with zero-knowledge proof, which is a process to guarantee our privacy because if we can't delete them anymore, then how do we preserve our privacy? These are issues that developers are dealing with through Sismo or other initiatives of this kind. What do Arianee's Super NFTs bring to the table that has superpowers and combine the best of web2 and web3? There are several issues that are not addressed by NFTs that have been built into the Arianee open-source protocol from the beginning. What's pretty cool and the founders are very proud of this is that what started being written and then developed in 2018 and then recently deployed on Polygon is now what all NFTs collections dream of. The first thing is the ability to retrieve an NFT in a different way. Indeed, today there are several use cases of an NFT. When we buy an NFT in crypto, there is no obstacle: we connect our wallet, pay, and then the wallet retrieves the NFT. It's simple, clear, and neat. But as we've been hearing since the beginning of this article and seeing it everywhere, there are plenty of cases where it doesn't happen like that. There are plenty of cases where we buy the NFT but we don't have a wallet yet and so maybe we paid that NFT in fiat. There are also possibilities that we get the NFT back either because we went to an event or because we bought something or because we entered a program. In all of these cases, the question of "how are we going to transfer the NFT?" is critical because it's the takeover question. The first feature implemented is the "asynchronous transfer" which allows via the same link to see the content of the data linked to the NFT, to enter an interface (usually a mobile application accessible via Apple Store or Google Play), to generate a non-custodial wallet on the blockchain and at the request of the user, initiate the transfer of the NFT from the issuer to the new owner. This ability to put in the same link visualization, wallet creation, and transfer generation (an airdrop in a way), is one of the first specificities of these Super NFTs which, you certainly start to imagine as you read, can solve a lot of problems. The second thing is the ability to time-stamp this NFT. That is to say, to add events that will change its status, its state and trace the history of what happened to it but also allow everyone to appreciate the "state of his life". For example, we buy an NFT from a purely digital collection but this NFT gives us the right to access an exclusive t-shirt. Instead of going to burn our NFT, we will receive a timestamp on the NFT that validates the fact that I have claimed the t-shirt and so if someone were to buy this NFT tomorrow, that person is aware that the t-shirt has already been distributed. The possibilities with this timestamp are incredible because it all works through open APIs and so anybody can come in and interact. This means that anyone can come and offer timestamping services to this base of NFT owners. We can look at it from the perspective of the brand that distributes and will be able to have a dynamic NFT, from the perspective of the user who no longer has to do baroque things like burning an NFT to get something, or from the perspective of the developer community who has access to open documentation with a clear and transparent system, either way, this timestamping functionality is superb. Conclusion Thanks to web3 we are building a new kind of decentralized database and people who have wallets with tokens in them without having shared any personal information but who are super engaged and want to develop a digital relationship with another stakeholder like a brand. Web3 kills two birds with one stone by addressing a structural problem of the web today concerning the protection of personal data and also by proposing more engaging and positive paths. All this is possible because databases become bases of "super users" who want to go to the next step. The level of web3 tools is progressing and this allows those who do not have the know-how to use them. Related articles What is Web3.0? How Web3 Technologies Are Modeling the Future of Finance? NFTs Trends In 2022 and Beyond Follow Bitget Academy: Twitter | Telegram | LinkedIn | Facebook | Instagram Disclaimer: All products and projects listed in this article are not endorsements and are provided for informational purposes only. The future of the internet is here, and it's in your hands. Bitget Wallet is your ultimate portal to the decentralized world of Web3. With our easy-to-use interface, you can explore this revolutionary movement with ease. Start experiencing the future by visiting Bitget Wallet now.

A Compendium of Crypto Important Milestones

Being the splendid epitome of innovation, cryptocurrencies have become the fastest-growing and best-performing asset class of the decade. Let’s look back at the history of the booming crypto market and take a moment to appreciate how far we’ve come. The 2000s: The Inception of Bitcoin Even though some may think that the pseudonymous Satoshi Nakamoto laid the groundwork for the development of crypto, he was indeed inspired by the concept of public key cryptography, first introduced to the public by two Stanford scholars in 1976, and electronic money, which was first explored by the American cryptographer David Chaum in the 1980s. The 1990s saw several attempts at building an anonymous, competent digital cash system; all of them have undoubtedly helped shape the future of cryptocurrencies. However, prior to Bitcoin there was another disruptor of the global financial system: the so-called “dot-com bubble”. The Internet we’re now so familiar with was once a life-changing innovation that, when piled up with excessive speculation in the housing market in the U.S. and other financial instabilities across the world, had triggered the Great Financial Crisis in 2008. Bitcoin came into existence the same year, trying to untangle the problem while pursuing freedom in any way imaginable. 2008 - 2009: Bitcoin Network Nakamoto purchased the domain Bitcoin.org and published the Bitcoin whitepaper there in 2008. This paper describes the Proof-of-Work (PoW) consensus application for the Bitcoin Network, a “peer-to-peer electronic cash system” with a limited supply (21 million) of its tokens. The genesis block was mined in 2009, releasing 50 Bitcoin into circulation. A message encrypted in the genesis block referred to the 2008 financial crisis and how governments rescued banks. Nakamoto was also the first to conduct a Bitcoin transaction, on the 12th of January, 2009. One thing that stood in the way of Bitcoin enthusiasts this year was Bitcoin mining difficulty, which materialised into the amount of computer power and energy consumed. Bitcoin mining requires specialised hardware machines with exceptionally strong GPUs; it is this inherent characteristic of PoW that keeps the network secure and fair but also makes Bitcoin the object of environmental criticism. 2010: Bitcoin Pizza Day One key event for Bitcoin - and maybe for the whole crypto market as well - occurred on May 22, 2010 where a guy in Florida paid 10,000 BTC for his two Papa John’s pizzas. That was the first Bitcoin commercial transaction, despite the fact that the first two crypto exchanges, BitcoinMarket.com and Mt.Gox, were established, allowing for the first Bitcoin public trade at US$0.03/BTC earlier this year. Mysteriously, Satoshi Nakamoto disappeared around December 2010. Throughout the years, several have claimed to be Nakamoto, but his or their true identity has never been revealed. 2011-2014: The First of Everything Else You might very well think of this period as the crypto space’s stepping stone, where new concepts were developed and refined gradually. 2011: The First Altcoins As Bitcoin started to capture public attention, others created their own tokens as the alternative of Bitcoin - now generally known as “altcoins”. Two first altcoins officially acknowledged were Namecoin (NMC) by Vincent Durham and Litecoin (LTC) by Charlie Lee, both forked from the Bitcoin source code and still active today. Litecoin is currently the 20th largest cryptocurrency by market capitalisation. The oldest crypto wallets are software wallets named BitPay and Electrum. As of today, Electrum remains Bitcoin-only, whereas BitPay has expanded their services over the years to support other cryptocurrencies. 2011 also marked a new milestone in Bitcoin price growth as it reached parity with the US-Dollar (USD), Euro (EUR) and the British Pound Sterling (GBP), one after the other. That might be the reason behind WikiLeaks’ decision to accept donations in Bitcoin. 2012: BTC First Halving In addition to Bitcoin’s finite supply, the design of Bitcoin consolidates the theory of scarcity with one pre-programmed feature: Bitcoin Halving, which is set to take place roughly every four years. The block emission was reduced from 50 BTC per block to 25 BTC per block, contributing to the ten-fold increase in BTC price from US$12 on the 28th November, 2012 to US$1,217 one year later. Bitcoin slowly gained traction, leading to the establishment of the Bitcoin Foundation. A record of 1,000 merchants began to accept BTC payment via BitPay. Coinbase had successfully raised US$600,000 for formation. Founded by Mihai Alisie and Vitalik Buterin, Bitcoin Magazine published its first issue in the same year. Regarding sovereign adoption, Estonia was the first economy to use blockchain technology for their digital IDs project. 2013: The First ICO 2013 was a remarkable year where Bitcoin surpassed the US$1,000 mark and Reddit accepted BTC for gold membership. Darknet market Silk Road experienced a shut-down with 26,000 BTC confiscated by the FBI. In October, the first Bitcoin ATMs were installed in Vancouver, Canada, converting Bitcoin into cash and vice-versa. Most significant was the new type of crowdfunding known as Initial Coin Offering (ICO), prompted by the successful fundraising of Mastercoin (OMNI). The project received 4,740 (around US$500,000) Bitcoin, mostly from members of the bitcointalk.org forum, to develop their platform. Little did Mastercoin’s founders know that their idea had set the trend for multiple blockchain projects in the following years, and to some extent - paved the way for the emergence of Ethereum two years later. 2014: The First NFT and Stablecoins The start of 2014 was quite gloomy as Mt.Gox, the original Bitcoin exchange that covered 70% of the world's transactions, was hacked and filed for bankruptcy. 850,000 Bitcoin (US$460 million at the time) stayed unaccounted due to this event, bringing the needed awakening for unwary crypto adopters. That caused a 50% drop in Bitcoin price; people started to shift their focus to other blockchain applications: NFT, stablecoin, privacy coin and hardware wallet: - January 2014: DASH (originally XCoin), the first privacy coin, i.e. a coin designed to obscure the transaction flow, was created as a fork of Bitcoin; - May 2014: “Quantum”, the first NFT ever, was minted by the digital artist Kevin McCoy on the Namecoin blockchain; - July 2014: bitUSD, a token issued on the BitShares blockchain, defines the term stablecoin by pegging its value to the market value of local currencies such as the US-Dollar. Another invention announced the same month was the first hardware wallet for crypto by Trezor, with Ledger quickly following the path. Ethereum concluded the month with 31,591 Bitcoin raised after 42 days; - September 2014: NuBits was the second stablecoin to be created. This month also saw the first over-the-counter Bitcoin swap approved by the U.S. Commodity Futures Trading Commission (CFTC); - November 2014: Tether came up with the first 100% real-asset backed stablecoin, USDT. Undeterred by the market confusion, many listed companies still announced the new Bitcoin payment option, including Stripe, Paypal, Dell, Microsoft, etc. 2015-2018: The Rise of Cryptocurrencies Numerous teams bootstrapped the development of their cryptocurrency projects through ICOs, aiming to become the successor of Ethereum. 2015: The Origin of Ethereum Ethereum’s first mainnet - Frontier - went live in 2015. That is approximately two years after Vitalik Buterin and his team proposed their whitepaper. Subsequently, they put forward the proposal for the ERC-20 token standard, which is absolutely critical for the birth of smart contracts and more diverse blockchain applications. Ethereum’s price swayed under US$1, but investors all agreed on the limitless potential of the project. This was in general a positive year for cryptocurrencies since Coinbase became the first regulated crypto exchange in the U.S. and another U.S.-based exchange, Gemini, was launched. Bitcoin was featured on The Economist’s cover, referred to as “The Trust Machine”, and continued to be Stripe’s main focus as the payment startup started the BTC payment integration for merchants. Furthermore, financial institutions’ interest in blockchain technology grew substantially: J.P.Morgan, Goldman Sachs and Bank of America made a pact to create the blockchain framework across the banking industry, while NASDAQ conducted the first blockchain trial. 2016: The DAO Hack Homestead went live as Ethereum’s second mainnet. A new form of trustless organisation was established on the Ethereum blockchain thanks to the invention of smart contracts. The project name, Decentralised Autonomous Organisation (The DAO), is now used to describe all community-led entities built on blockchain. The hype surrounding this revolutionary project lies in its unique design of equal authority distribution and the fact that it was the first high-profile project on Ethereum network, having raised US$150 million in Ethereum at the time. However, before it truly took off, a hacker managed to exploit vulnerabilities in its code, stealing US$3.6 million (some said US$14 million) from The DAO’s fund. The Ethereum community as a whole took a big hit because 14% of the circulating Ethereum was stored in The DAO’s smart contracts when the attack occurred. Several questions concerning the security and even the viability of the one-year-old network arose, urging miners, exchanges and node operators to implement the Ethereum hard fork at block 192,000. Bitcoin underwent the Second Halving, which reduced the amount of BTC produced per block from 25 to 12.5. It was not the sole reason behind Bitcoin’s record-breaking price in 2017, but definitely was one major driver. Chicago Mercantile Exchange (CME), the world’s leading derivatives marketplace, launched the BTC Price Index - signalling intensified institutional awareness and presence in the market. 2017: The Year of ICOs Many would call 2017 the highlight in the history of cryptocurrencies. A total of 435 ICOs had taken place, raising a whopping US$5.6 billion. The most famous ICO was Filecoin, which was also the first to be SEC-compliant with the legally binding SAFT (Simple Agreement for Future Tokens). Binance was founded by Changpeng Zhao in mid-2017 and received US$15 million in an ICO the same year, but China went against the current with its ICO ban in September. DeFi sector (Decentralised Finance) started to emerge with the launch of the main crypto-collateralised stablecoin DAI. The total value locked (TVL) of DeFi hit US$1 million for the first time. The first NFT Game - CryptoKitties - went viral, pushing Ethereum’s transaction capacity to its limit. Meanwhile, Japan officially recognised Bitcoin as a currency in 2017, providing the most progressive regulatory climate for the market. The first bank to sell Bitcoin directly to its customers is the Switzerland-based private bank Falcon. CME and CBOE (Chicago Board Options Exchange) announced their Bitcoin Futures, meaning big players in the traditional capital markets had joined the game. 2018: The First Bitcoin’s All-Time High A few days into the new year, Bitcoin price set its new all-time high at US$19,700. Other cryptocurrencies greatly benefited from this achievement. The total market cap of all cryptocurrencies broke the record at US$820 billion, with VCs’ investments in the market hitting US$1 billion. Bitget was founded in late 2018, preparing for the employment of social trading in crypto. Fidelity launched its crypto institutional platform, and the Swiss authorities added BTC to their tax payment options. Other regulatory bodies started to support the use of blockchain: the European Union committed US$300 million for blockchain project development and the South Korean government US$9 million. 2019-Present: Becoming An Integral Part of the Global Economy Countless criticisms later, the crypto market proves it’s here to stay. Finally recognised as a new asset class worldwide, cryptocurrencies are becoming integral to the global financial system. Obviously, a lot more has to be done, but the whole journey has been impactful and completely astounding! 2019: Scalin’ Time! This is the year when the number of all Bitcoin transactions amounted to 400 million, and the number of daily Ethereum transactions exceeded 1 million. Facebook, one of the world’s largest companies in valuation, introduced their digital currency plan, whilst the giant J.P.Morgan launched the first bank-backed token in the U.S., JPM Coin. One disturbing theme of the year was security. Seven crypto exchanges were hacked, including Binance and BitHumb. The value of compromised funds added up to nearly US$160 million, amplifying the trust issues raised by OneCoin’s ponzi scheme. 2020: Black Thursday but Unprecedented Expansion The whole market was shaken up to the core with the crash on March 12, 2020, which is now often referred to as the “Black Thursday” event. Bitcoin, the flagship coin of cryptocurrencies, and Ethereum, the mother of all altcoins, both lost 50% of their value within a day, while the DeFi backbone DAI lost its peg. Nevertheless, DeFi flourished after Compound presented their yield farming scheme, together with Yearn Finance, SushiSwap and Pickle Finance. UniSwap, the true unicorn, brought the term airdrop into existence; DeFi TVL stood at US$10 billion - a nominal increase of 10,000 times compared to 2017’s figure. Heightened activities in the DeFi sector, which is mainly built on the Ethereum blockchain, exacerbated the congestion and high gas fee problems of the network. Originally using the PoW consensus mechanism, Ethereum kick-started their transition into PoS with Ethereum 2.0’s staking schedule (Phase 0). More institutional players got into crypto, for example, the legendary Paul Tudor Jones, Michael Saylor, Stan Druckermiller, as well as big firms like CitiBank and Grayscale. SP Dow Jones announced the upcoming launch of their Crypto Indices as a result. Visa added USDC to their payment option, and LinkedIn revealed that blockchain was the most in-demand skill of the year. 2021: DeFi, NFT, Metaverse The crypto scene was booming the whole 2021. Coinbase went public and was acknowledged as the 7th biggest new listing of all time in American history. Bitcoin value approached the US$70,000 level, bringing Bitcoin’s market cap to the peak at US$1 trillion. Ethereum’s most anticipated upgrade, EIP-1559, took place, solving the exorbitant gas fees only to a limited degree. Ethereum’s competitors gradually ate into its market share, with Avalanche and Solana making their way to the top 10 largest cryptocurrencies. DeFi enjoyed a YoY growth of 600%, hitting the US$200 billion mark at its best, but also demonstrated an US$7.7 billion vulnerability - the scammed/hacked/exploited value saw an increase of 81% from 2020. Totally unexpected was the comeback of NFTs. The title “most famous NFT sale of all time” belongs to Beeple, whose NFT artwork was sold for US$69.3 million in Ethereum at Christie’s - the renowned fine-art auction house based in the U.S. That was only the beginning of the NFT obsession in 2021. Also falling into the category of NFT Artworks were CryptoPunks, CryptoKitties, Bored Ape Yacht Club. Adidas and Nike joined the gang with the production of their digital shoes. The last piece of the puzzle was Axie Infinity with its overnight success as the original NFT Game. As NFTs went mainstream, more people flocked to this market, motivating the expansion of NFTs into Metaverse, the graphically rich virtual space. NFT trading volume in 2021 was recorded at US$23 billion. Governments had different plans when it came to adopting blockchain technology. El Salvador accepted the existing Bitcoin as legal tender, but China banned all crypto-related activities and conducted several Digital Yuan pilots. The Securities and Exchange Commission (SEC) continued to reject crypto ETFs; the only one got through was a futures-based Bitcoin ETF (BITO). North American ETFs, however, got the greenlight from Canadian regulators, where the first Bitcoin ETF (BTTC) made its debut on the Toronto Stock Exchange. 2022: Proving Resilience The whole market had a great start this year, but everything’s gotten kinda derailed since May. Terra’s used-to-be-US$18-billion algorithmic stablecoin collapse; Tether creating mayhem with its depeg; Bitcoin value now barely above the peak of its last bull cycle. Fear and Panic have been sweeping across every corner of the market yet cannot stop BUIDLers from doing their job. Anyone who has weathered the volatility of the last decade is soundly capitalising on the drop, acknowledging the situation but trying to make the most out of it. There are another six months to contemplate, keep calm and see how the future unfolds. As the saying goes, “So, Bitcoin is dead? You must be new here”.

How Effective are Support and Resistance Levels in Crypto Investing and Trading?

Two of the most hotly debated aspects of technical analysis are definitely the ideas of trading level support and resistance. These names are used by traders to describe price levels on charts that frequently serve as barriers, preventing the price of an asset from being pushed in a particular direction. They are part of the analysis of chart patterns. The rationale and concept behind identifying these levels initially seem simple. Still, as you'll discover, support and resistance can take many different forms, and the idea is trickier to understand than it first appears. Definition of Support and Resistance Levels A price level known as support is one where a downturn is likely to pause because of a concentration of demand or purchasing activity. Demand for the shares rises as the value of assets or securities declines, creating the support line. In the meantime, when prices have grown, resistance zones appear due to selling interest. When a price reaches a level of support or resistance, it will either bounce back away from the level or violate the price level and continue in its direction until it reaches the next level of support or resistance. As a result, once a region or "zone" of support or resistance has been identified, those price levels can serve as potential entry or exit points. What exactly are support levels? Support is formed when demand from buyers absorbs supply from sellers, preventing the price from falling further. Bullish traders are inclined to buy at this level because they believe the price is attractive and unlikely to fall further. The bears, on the other hand, stop selling because they believe the market has fallen far enough and is due for a rebound. When both of these scenarios occur, a support system is formed. EOS/USD daily chart. Source: TradingView The chart above is an example of strong support. When the price of EOS falls below $2.33, buyers emerge, and selling decreases. As a result, demand exceeds supply, resulting in a rebound. Although horizontal supports are thought to be more reliable, they are not the only way to form supports. Trendlines serve as support during uptrends. What exactly are resistance levels? Resistance is the opposite of support because it refers to the point at which supply exceeds demand, halting the upward trend. Resistance is formed when buyers who purchased at lower levels begin to book profits and aggressive bears start shorting because they believe the rally has been extended and is due for a pullback. When supply surpasses demand, the rally comes to a halt and reverses. BTC/USDT daily chart. Source: TradingView The level of support or opposition does not have to be uniform. The above chart depicts how the resistance zone was located between $10,500 and $11,000. When the price reached this level, short-term traders booked profits and aggressive bears shorted the BTC/USDT pair. Between August 2019 and July 2020, the pair declined from the resistance zone five times. The resistance line or zone, like the support line, does not always have to be horizontal. Trading supports in an uptrend When an asset takes support on an uptrend line three times, traders may expect the line to hold. Hence, long positions can be taken on a bounce off the uptrend line. The stops for the trade can be kept just below the trendline. However, in an uptrend, the break below the trendline does not necessarily mean that the trend has reversed. Many times, the trend just takes a break before resuming again. ETH/USDT daily chart. Source: TradingView As seen in the chart above, the ETH/USDT pair took support on the uptrend line on several occasions. However, when the pair broke below the uptrend line, it did not start a new downtrend. The price consolidated in a range for a few days before resuming the up-move. Traders may close their long positions if the price dips and sustains below the uptrend line but new short positions should be avoided. If the price resumes its uptrend after consolidation, traders may again look for buying opportunities. Resistance flips to support When the price breaks through a resistance level, the bulls attempt to convert the previous resistance into support. If this occurs, a new uptrend will begin or resume. If this occurs repeatedly, it may represent a good buying opportunity. BTC/USDT daily chart. Source: TradingView From August 2019 to July 2020, Bitcoin was stuck in the $10,500 to $11,000 range. Following the breakout from the resistance zone, the price fell below $10,500 once more, but the bulls aggressively bought the dip, converting the level into support. Traders had a good buying opportunity because the new uptrend was just getting started. Support flips to resistance DOT/USDT daily chart. Source: TradingView The above Polkadot (DOT) chart shows how the zone between $28.90 and $26.50 acted as a support zone from February 14 to May 18 of this year. However, once the price fell below the support zone, the zone flipped into resistance and has not allowed the price to break above it since. This is an example of a support zone that became a resistance zone. Importance of Support and Resistance Levels to Traders While analyzing any coin, traders must look for support and resistance levels as they can act as good entry and exit opportunities. In an uptrend, traders should look to buy at support levels, and in a downtrend, traders should look to short at the resistance line. Support and resistance levels are not set in stone and professional traders will try to hunt for stop orders. Hence, traders should keep the stops such that they do not get run down by the market makers. Follow Bitget Academy for more insights: Twitter | Telegram | LinkedIn | Facebook | Instagram