BTC and ETHER Fall Substantially in $18 Billion Crypto Market Wipeout 4884

Over the past 24 hours, the crypto market has recorded a loss of $18 billion, as major cryptocurrencies including Bitcoin, Ether, EOS, and Bitcoin Cash dropped by 4 to 13 percent. While Bitcoin ended the day with a 4 percent decline in its value, Ether, the native cryptocurrency of Ethereum, plummeted by 13 percent against the US dollar, becoming one of the worst performing major cryptocurrencies alongside NEO.

Tokens recorded the steepest drop in their value on August 11, as most Ethereum-based tokens such as Theta Token, Aion, Pundi X, Aelf, DigixDAO, WanChain, and VeChain recorded a drop of around 14 to 18 percent.

Where Does the Market go Next?

Due to the overly strong downtrend of major cryptocurrencies, in order for the cryptocurrency market to engage in a large mid-term bull run, the market would need to bottom out at a lower price range. However, failing to secure strong momentum in the higher region of $5,000 could lead BTC testing $5,500, which may lead to a further drop for the cryptocurrency market.

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From Japan to the world! The CARAC Token project that will greatly change the entertainment business has started!! 5741

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About CARAC Token, the reserve currency of Jyanna World, a communication square developed by CARAC as a metaverse space, we will announce a new service for users worldwide.
https://www.carac-jp.llc/
https://www.carac-jp.llc/_files/ugd/105a0d_0f4732aa61d54e1aaf4934c04bccba48.pdf

CARAC, LLC. (CARAC) is a company that has developed Jyanna World, a platform for building a communication square in a metaverse space and distributing the real world through live streaming.

1. In Jyanna World, there are two avatars: (1) AI avatars that transmit information in the meta-space and (2) user avatars that catch the information.

  • AI avatars in (1), such as celebrities, idols, cosplayers, singers, the proprietress of a hot spring resort, the chairman of a tourism bureau, and other information-transmitting, real-life people exist as official avatars and stroll around Jyanna World.
  • When the user avatars in (2) want to obtain information for their purpose, they ask questions to the AI avatars in (1) via chat, and the AI avatars in (1) respond through the chat Bot.
  • User avatars in (2) have access to both free and paid areas of Jyanna World. The paid area requires a “Pass,” which the NFT manages.

* CARAC Tokens are required to purchase the Passes. Users in (2) with the Pass can access paid areas to obtain information only available in that area and receive services such as gift items that can be used in Jyanna World.

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2. The live feed is built on the following three components;

  • A. Real underground idols and cosplayers will live-stream as Livers and communicate with fans by responding to chats from them. Fans can support the Livers by giving gift items they have purchased.
  • B. Live streaming of a singer’s or artist’s concert simultaneously.
  • B.-1 Communication service with fans in which artists sing songs and respond to messages sent by fans via chat.
  • C. Live streaming from domestic tourist attractions, amusement facilities, and event venues. Tourists can learn the status of crowds and events taking place simultaneously through live streaming and make appropriate decisions.

Entermedia, Inc., a company that handles large-scale festivals in Japan, serves as the front of contact for concerts and events.
https://www.entermedia.co.jp/
https://prtimes.jp/main/html/rd/p/000000013.000037190.html　

STARDUST PROMITION, INC. (https://www.stardust.co.jp/), which features AI avatars at Jyanna World and uses many artists and idols for over 200 box offices, concerts, and events annually, has planned live concert streaming (B. and B.-1) and past concert streaming featuring official AI avatars.

With those deliveries, fans with “Passes” purchased with the CARAC Token will be able to watch the special live streaming from backstage immediately after the concert and will be able to present items to the artists.

For example, if an artist has a birthday and a fan presents him or her with a birthday cake image item, the artist will feel happy and call the fan’s name over his or her phone in the streaming.
https://prtimes.jp/main/html/rd/p/000000016.000037190.html　

As described above, Jyanna World users are divided into general users and VIPs with Pass Tickets. NFT manages Pass Tickets and requires CARAC Token for purchase.

The CARAC Token is essential to enjoy 100% of the live streaming experience at Jyanna World.

As long as entertainment exists and fans of artists, idols, singers, etc., in the real world continue to exist, CARAC Token, the reserve currency of Jyanna World, will be indispensable in fulfilling fans’ desires.

Fans purchase “Pass Tickets,” which can only be purchased with CARAC Token, to attend live performances by their favorite artists and idols and support them 100%. Since fans need to purchase Pass Tickets each time they attend a show, the more Pass Tickets they purchase, the more the value of the CARAC Token increases, and the Token’s value can be secured and protected.

CARAC Token can be purchased at xt.com (https://www.xt.com/ja/trade/carac_usdt), xt.com is paying attention to this Token so much because it is necessary for many artists and fans.

To provide even more valuable space and streaming, CARAC has begun negotiations with not only many domestic production companies but also with overseas entertainment production companies for distributing overseas artists.

DCS Card Centre launches payment Token DUS, to be first deployed and issued on PlatON Network 5149

DCS Card Centre (DCS) recently announced the official launch of its payment token, DCS Tokens (DUS), which will be first deployed and issued on PlatON Network.

This issuance marks a major breakthrough in the field of blockchain payments, demonstrating the determination of PlatON and DCS to use advanced technology to drive innovation in the payment industry. DCS has also become the first financial institution in Singapore to launch an initiative aimed at bridging the transitions between Web2 and Web3 ecosystems after the Monetary Authority of Singapore (MAS) introduced the Single-Currency Stablecoin (SCS) Regulatory Framework.

DCS is a financial institution governed by the MAS under the Banking Act and licensed to issue credit and charge cards. DCS will continue to lead the revolutionary innovation and integration in the next-generation digital payment field.

DCS Tokens (DUS) represent a unique convergence of digital assets and traditional finance. DCS Tokens are tokenized from credit card transactions processed by DCS and can only be returned to DCS for redemption as card spend limits. These tokens are designed to provide value stability (1USD:1DUS) and act as a trusted connection between Web3 and card payments globally in Web2.

PlatON Network, known for its high security and scalability, will provide a solid technical foundation for the issuance of DUS, ensuring that users can conduct transactions in a fast and secure network environment without worrying about privacy and data security issues.

The redemption of DUS for conversion into increasing a DCS cardholder’s spend limit or paying outstanding balances back to fiat is fast and seamless, as the transaction is executed instantly on D-Vault. D-Vault, a feature within the DCS Cards app, also allows bank transfers and conversion of digital assets. This innovation empowers users to seamlessly optimize and toggle between the convenience and efficiencies of Web2 and Web3.

In addition to co-issuing DUS, DCS will also explore a new ecosystem of financial services on Web3 with PlatON based on blockchain, privacy-preserving computation, artificial intelligence (AI), and other technologies, promoting innovation and development of blockchain technology in the field of payment and clearing. At the same time, DCS became the first heavyweight financial institution to sign up for TOPOS (an encrypted payment and clearing operation system based on PlatON), initiating and building the TOPOS ecosystem together with PlatON.

PlatON is an open financial infrastructure with privacy-preserving computation as its technical feature. Initiated and promoted by the LatticeX Foundation, PlatON aims to become a major blockchain platform in the era of Web3. It secures stability and performance on a par with that of the financial system and provides privacy-enhanced compliant digital asset management, multi-scenario encrypted payment and clearing solutions, and a smooth and user-friendly experience for various types of Web3-native applications and applications/users migrating from Web2 to Web3.

TOPOS is an open payment and clearing operation system based on blockchain, adhering to an OPEN LOOP multi-party architecture. With the underlying payment logic based on tokenized money, TOPOS enables users to self-mint “money” in the Web3 era and transfer value in a secure, controlled way. TOPOS will gradually build an open clearing and settlement system for Web3 in a compliant, secure, open and convenient manner.

This historic collaboration between the two parties is grounded in their shared vision and value judgment for the future of global digital payment and clearing. The TOPOS network offers DCS a complete underlying solution for issuing tokenized money compliant with the PlatON Network, assisting DCS in securely, stably and transparently managing the minting, burning and scenario-based use of tokens.

Through this partnership, the industry is presented with PlatON’s comprehensive strength and ambitious vision in Web3 open financial infrastructure and its ecosystem. It marks the initiation of TOPOS’ business strategy as the global digital currency payment and clearing network for the Web3 era. This proves that TOPOS is poised to thoroughly and deeply support various traditional financial institutions in their strategic transition to open finance under the Web3/digital currency system. Moreover, it is ready to serve more financial institutions committed to the construction of the new TOPOS clearing network.

Backed now natively issues tokens on BNB Smart Chain: enabling new integrations and scalability 5868

Backed has extended its native token issuance to include the BNB Smart Chain (BSC) to bring our products to a wider audience and give our clients the flexibility to choose the blockchain that works best for their use case.

Backed is on a mission to bring off-chain assets onto crypto rails. We issue ERC-20 tokens – or equivalent on other chains – that track the value of treasury and corporate bond ETFs as well as stocks. The tokens are freely transferable across wallets, fully collateralized by the underlying assets, and issued in compliance with Swiss regulations – which is at the forefront of blockchain technology regulation.

One of BNB Chain’s main value propositions is its community, as it is the world’s largest smart contract blockchain by daily active users. This integration provides a large and active user base, enhancing liquidity and market access for our products. BNB Chain offers significantly lower transaction fees compared to the Ethereum network, making it more cost-effective. BNB Chain is designed to handle high transaction volumes with faster block confirmation times. This marks another milestone towards Backed’s mission to enable the seamless integration of RWAs on-chain.

Backed’s products are already finding use cases such as collateral for stablecoins and money markets by Angle Protocol – making use of bC3M and bHIGH. Ribbon Finance is utilizing bIB01 for its own structured product yields. Our tokenized treasury products are also being used by treasury managers as a yield-baring, stable way to park their funds fully on-chain.

Backed strives to enable innovation and we will continue to expand our token issuance to new networks.

“We’re thrilled to announce the extension of our native token offering to the BNB Smart Chain. At Backed, we believe in providing our clients with choices, and this expansion allows them to choose the best-suited chain for their needs. Our BEP-20 tokens on BSC are fully compatible with our ERC-20 tokens on Ethereum, ensuring seamless integration across networks.

This integration with the BNB Chain ecosystem brings our products to a large and active user base, saves costs, and provides better market access for tokenized real-world assets.” – Giorgio Giuliani, Head of Product at Backed.

About Backed Finance

Backed is a Swiss start-up bridging real-world assets on-chain. Backed issues on-chain tokens that track the value of real-world assets, such as stocks or ETFs. Tokens are freely transferable across wallets, are fully collateralized by the underlying asset, and are issued in compliance with the Swiss DLT act.

Backed’s products are only sold directly to qualified investors and licensed resellers. Backed’s tokens are not offered, sold or delivered within the United States, or for the account or benefit of U.S. Persons.

Learn more about Backed at backed.fi.

About BNB Chain

BNB Chain is a community-driven and decentralized blockchain, powered by BNB. It consists of BNB Beacon Chain, its staking and governance layer, BNB Smart Chain (BSC), which is EVM compatible and facilitates a multi-chain ecosystem with its Layer-2 solutions, and BNB Greenfield, its decentralized data storage network. It is the world’s largest smart contract blockchain by daily active users. It has processed 3 billion transactions to date from 232 Million unique addresses making it the largest layer 1 blockchain globally and bringing developers massive user access with ultra-low gas fees, higher transactions per second and has experienced zero crashes since its inception. The ecosystem has more than 1,500 estimated active dApps at any given time across multiple categories such as DeFi, Metaverse, Blockchain Gaming, SocialFi, NFT, Infrastructure, and more. There are numerous programs available to support the Web3 ecosystem including the Gas Grant, Builder Grant, Kickstart, Most Valuable Builder (MVB) and AvengerDAO.

DeFi Technologies Inc.’s Wholly Owned Subsidiary Valour Inc. Unveils Ethereum Physical Staking ETP: Simplifying Staking Innovation for Traditional Investors 7307

DeFi Technologies Inc. (the “Company” or “DeFi Technologies”), a crypto native technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance (“DeFi”), is excited to announce that its subsidiary Valour Inc. (“Valour”), a leading issuer of exchange traded products (“ETPs”) that provide simplified access to digital assets, has launched its 1Valour Ethereum Physical Staking ETP, set to redefine and simplify the Ethereum investment landscape. This innovative product aims to harness the essence of Ethereum while offering investors access to additional yield income opportunities.

The 1Valour Ethereum Physical Staking ETP (ISIN GB00BRBMZ19) is issued by Valour’s new EU-wide issuance platform for physically stored digital assets Valour Digital Securities Limited (“VDSL”). This Jersey-based securities issuer has garnered approvals from both Swedish and Jersey regulatory entities and is underpinned by digital assets physically safeguarded by licensed custody providers.

Available for trading on the Frankfurter Wertpapierboerse/ XETRA, the new staking ETP is poised to simplify network participation for investors. With a fixed yield, undefined expiry and a 1.49% management fee, investors have the potential to earn passive returns, sidestepping the technical challenges involved with staking, and actively contributing towards the evolving DeFi landscape. Enhanced security measures including slashing insurance and full collateralization mean investors benefit from additional transparency and security measures.

Crypto staking represents a cornerstone in blockchain dynamics. It enables enthusiasts to immerse in the governance and consensus of Proof of Stake (PoS) blockchains, earning rewards for their contributions. Contrary to energy-hungry Proof-of-Work systems, PoS networks lean on validators who pledge assets to corroborate and usher new blocks. However, the staking landscape isn’t without its intricacies – validators often grapple with asset lock-ups during bonding periods, as well as enduring unbonding spells prior to rewards being unlocked.

Olivier Roussy Newton, CEO of Valour, comments, “The 1Valour Ethereum Physical Staking ETP exemplifies Valour’s commitment to creating innovative and trustworthy investment vehicles. We understand the challenges and complexities of crypto investments. Our mission is to bridge the gap, providing opportunities to enhance returns which are straightforward for our investors. In addition, all ETPs issued under the VDSL umbrella are endowed with the physical delivery option that might benefit investors based in Germany with a tax benefit after a holding period of one year.”

Partnering with elite entities like the VQF registered Copper Markets (Switzerland) AG for custody and industry stalwart Blockdaemon for staking services, Valour guarantees paramount security, ensuring a consistently collateralized, non-custodial staking environment.

Valour Inc. invites progressive investors to partake in this revolutionary venture, unlocking Ethereum’s potential in the most accessible and safeguarded manner.

In addition to their novel digital asset platform, which includes 1Valour Bitcoin Physical Carbon Neutral ETP and Valour Digital Asset Basket 10, Valour offers fully hedged digital asset ETPs with low to zero management fees, with product listings across European exchanges, banks and broker platforms. Valour’s existing product range includes Valour Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), Binance (BNB), Enjin (ENJ), Bitcoin Carbon Neutral (BTCN) and Valour Digital Asset Basket 10 (VDAB10) ETPs with low management fees. Valour’s flagship products are Bitcoin Zero and Ethereum Zero, the first fully hedged, passive investment products with Bitcoin (BTC) and Ethereum (ETH) as underlyings which are completely fee free.

About DeFi Technologies

DeFi Technologies Inc. is a crypto native technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance (DeFi).

With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance. Backed by an esteemed team of experts with extensive experience in financial markets and digital assets, we are committed to revolutionizing the way individuals and institutions interact with the evolving financial ecosystem.

For more details, visit https://defi.tech/

About Valour

Valour Inc. issues exchange traded products (ETPs) that enable retail and institutional investors to access digital assets like Bitcoin in a simple and secure way via their traditional bank account. Established in 2019 and based in Zug, Switzerland, Valour is a wholly owned subsidiary of DeFi Technologies Inc.

For more information on Valour, visit https://valour.com

MEKE’s popular public beta boosts BNB L2 trading volume 9384

Over the past year, the most prominent trend in the cryptocurrency market has been the emergence of layer-2 networks. Layer 2, also known as L2, refers to the second layer of solutions designed to address the issues of scalability, speed and high gas fees that are present in L1 networks such as Ethereum and BNB Chain. This introduction of L2 solutions has presented the cryptocurrency market with numerous possibilities.

Whether it was last year’s Optimism or this year’s Arbtirum in March, both have sparked a tremendous surge in demand. The popularity of L2 solutions can be attributed not only to their ability to enhance the performance of blockchains but also to the attention generated by the platforms themselves. Additionally, the emergence of high-quality applications on L2 networks has propelled the entire industry forward.

Both Ethereum and BNB Chain belong to the top tier of L1 networks, with BNB Chain positioning itself as a strong candidate to compete for the top spot against Ethereum. Recently, BNB Chain released its own L2 solution, OpBNB, which features a derivative trading protocol named MEKE. After years of development, MEKE was selected for deployment on the OpBNB test network and has undergone a thorough security audit by the globally recognized firm Certik. On July 31, MEKE commenced its highly anticipated public beta testing, which is expected to conclude shortly. Since the start of the public beta phase, OpBNB’s trading volume and user activity have experienced a significant boost. Participants in the MEKE public beta can enjoy similar benefits as those who participated in the early testing phases of DYDX, Optimism and Arbtirum.

MEKE is a decentralized derivative trading platform developed by a team from the United States in 2021. It facilitates the trading of perpetual contracts on various mainstream cryptocurrencies such as Bitcoin and Ether, with future plans to expand its offering to include commodities like gold, oil, and even US bond futures. MEKE’s standout features include its utilization of smart contracts to ensure transparent and traceable transactions, making it impossible for any party to manipulate the trading process. Furthermore, its user-friendly interface delivers a trading experience similar to centralized perpetual contracts, enabling smooth adoption for users with basic knowledge of wallet operations. The platform also implements a classic order book model, providing a visual representation of trading activity that aligns with the habits of financial professionals and facilitates precise data analysis. Lastly, MEKE boasts a robust proprietary trading engine that enhances transaction efficiency and concurrency.

Another notable highlight is MEKE’s deployment on OpBNB. While there are already numerous products available in the L2 market for ETH, OpBNB was only launched less than a month ago. Introduced by the original BNB Chain team, OpBNB possesses a remarkable block time of one second and offers low gas fees for transfers, amounting to as little as $0.005. It boasts a TPS (transaction per second) exceeding 4,000, surpassing the performance of existing scalability solutions. It is important to note that OpBNB has yet to issue its own platform token.

Cryptocurrency perpetual contract trading currently amounts to trillions of dollars in daily trading volume, twice exceeding that of spot trading. The profits generated by the perpetual contract market are a significant figure. Despite this, decentralized derivative trading, which accounts for only approximately 2% of the overall market, undoubtedly has enormous potential.

MEKE initiated its first phase of public testing on July 31 and is expected to conclude in a short span of time. Due to its expansive market potential and robust technical framework, MEKE has garnered considerable attention globally, featuring coverage in English and Chinese media. It is evident that MEKE’s public testing has led to a surge in transaction volume on the OpBNB testnet.

Similar to other prominent projects, participating in MEKE not only allows one to stay informed about the latest developments in blockchain technology but also provides the opportunity to gain significant potential benefits such as fee sharing and airdrops. Participating in the MEKE public testing phase may offer benefits comparable to early adopters of DYDX, Optimism and Arbtirum testing.

Given the limited issuance of MEKE platform tokens, a unique issuance mechanism has been devised: Participants who engage earlier will receive more substantial benefits. If one joins the public testing phase late, the MEKE testing incentives will gradually diminish until they are fully distributed. The MEKE public testing phase is currently underway.

GLI Token to Be Listed on CoinW and Bitforex – Celebrating Hagia Sophia’s Legacy Through Cryptocurrency 9319

Hagia Sophia, the renowned architectural marvel that has captivated civilizations throughout history, finds a new tribute in the world of digital assets – the GLI Token. This unique cryptocurrency serves as a celebration of Hagia Sophia’s spirit and value, while also striving to promote its historical and cultural significance on a global scale. Inspired by the beloved feline resident, Gli, who has become an emblem of Hagia Sophia, GLI Token has garnered widespread attention from both the cryptocurrency community and visitors to the iconic structure.

Honoring Hagia Sophia’s Legacy with GLI Token

The creation of GLI Token pays homage to the charming cat, Gli, whose presence within Hagia Sophia has touched the hearts of countless individuals. More than just a digital currency, GLI Token serves as a platform to showcase the exceptional uniqueness of Hagia Sophia, cherished and revered by diverse cultures and beliefs over the centuries. By bringing GLI Token into existence, its creators aim to underscore the everlasting historical and cultural legacy of this architectural masterpiece.

Rarity and Value as Core Tenets

In the rapidly evolving world of cryptocurrencies, GLI Token stands out due to its carefully limited total supply, symbolizing rarity and extraordinary value. The conscious decision to maintain a low total supply sets the stage for potential value appreciation as demand escalates. It is worth noting that no tokens were reserved for promotion or allocated to the project’s team, affirming a commitment to community-driven and transparent management practices.

A Community-Driven Endeavor

GLI Token stands as a testament to the principles of fairness and inclusivity. The team responsible for GLI Token has decided against receiving any tokens for distribution, demonstrating a steadfast dedication to encouraging widespread support and active participation from the cryptocurrency community. The resounding success of GLI Token is a testament to the strong backing and recognition it has received from its growing community of enthusiasts.

GLI Token: A Growing Phenomenon

Since its inception, GLI Token has rapidly gained traction within the cryptocurrency realm and has simultaneously captured the admiration of visitors to Hagia Sophia. The versatility of the token enables users to access exclusive events and memorabilia, as well as avail various utilities within the cryptocurrency ecosystem. The unique association of GLI Token with the revered historical monument makes it an alluring investment opportunity for both cryptocurrency enthusiasts and supporters alike.

CoinW and Bitforex Listings – A New Milestone

Building upon its remarkable journey, GLI Token is set to achieve a significant milestone as it is scheduled to be listed on the prestigious CoinW and Bitforex exchanges on July 28. With a modest circulation of only 200,000 tokens, the excitement surrounding GLI Token continues to grow, with ongoing promotional efforts to support its presence in the market. Official announcements regarding the listings can be found on GLI Token’s website and social media channels.

Conclusion

As GLI Token continues to pave the way for the intersection of history and technology, it stands as a profound tribute to the enduring legacy of Hagia Sophia and its endearing feline resident, Gli. Through this cryptocurrency, the world celebrates the spirit and value of Hagia Sophia, honoring its historical significance and cultural importance.

For more information on GLI Token and its journey, please visit the official website (https://glitoken.com) or engage with the vibrant community on:

Telegram (https://t.me/glitoken),
Twitter (https://twitter.com/TokenGli),
Instagram (https://www.instagram.com/glitoken/), and
CoinMarketCap (https://coinmarketcap.com/currencies/gli-token/).