cryptocurrency
Solana-based Popcat meme coin sees 305% increase in 30 days
Published
4 months agoon
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adminPopcat, a meme coin based on the Solana blockchain, saw its price surge by over 305% in the last 30 days and 63% in the past week.
Popcat (POPCAT) credits its ever-growing value to a combination of strategic partnerships, technical analysis, social media campaigns, DeFi integration, and enhanced security measures.
Crypto influencers also endorsed the cat-themed meme coin leading to its listing on ByBit and Crypto.com, which boosted its visibility.
Popcat Technical Analysis
Technical analysis indicates a bullish trend for Popcat, with key indicators suggesting a continued rise in price. Current resistance is observed at around $0.98, with support identified at $0.60.
These levels present a potential for breakouts or reversals.
Ranked No. 86 among top cryptocurrencies, Popcat has seen robust trading volume, with over $71 million traded in the past 24 hours. Its price reached an all-time high of $0.98 today. A sustained increase in volume could signal continued bullish activity.
Further analysis suggests that Popcat could experience price fluctuations between $0.60 and $1 in the coming weeks.
According to the current data from Coingecko, Popcat is trading at $0.95, with a 6% price increase in the past 24 hours and a market capitalization exceeding $936 million.
Since its inception in January, Popcat has surged by 25,074%.
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cryptocurrency
DeFi Technologies creates SolFi to be its ‘MicroStrategy for Solana’
Published
4 hours agoon
November 12, 2024By
adminDeFi Technologies, a company bridging traditional finance with cryptocurrency by providing exposure to digital assets, has announced a new platform aimed at adding Solana to its balance sheet.
In an announcement on Nov. 12, DeFi Technologies revealed it had created a spinout entity named SolFi, which will focus on adopting a Solana (SOL) treasury strategy. According to a blog post, SolFi will offer investors direct exposure to Solana and its ecosystem, including “proprietary trading, validator node operations, and ecosystem investments.”
The company is looking to follow in the footsteps of MicroStrategy, whose Bitcoin (BTC) strategy has inspired similar approaches across the market. Metaplanet, often referred to as “Asia’s MicroStrategy” after acquiring substantial BTC holdings in recent months, is one such example.
Microstrategy inspired approach
According to DeFi Technologies, SolFi will act as its “MicroStrategy for Solana,” allowing the firm to tap into the SOL ecosystem’s high-yield staking and growth potential. SolFi plans to leverage capital structures beyond those available to exchange-traded funds to provide access to SOL’s potential upside and cash flow.
In a comment, DeFi Technologies chief executive officer Olivier Roussy Newton said:
“The success of Microstrategy has elevated exposure to the #1 digital asset in Bitcoin, and we look forward to focusing SolFi’s digital asset strategy towards Solana from the ground-up. Like Microstrategy, SolFi will generate cash flow from an operating company, and tap capital markets for creative financing structures that allows SolFi to quickly grow its treasury and accelerate its staking operations.”
SolFi will help DeFi Technologies bring more value to its shareholders, he added.
MicroStrategy recently purchased over $2 billion worth of BTC to see its holdings of the flagship digital asset reach 279,420 BTC. The company acquired this haul since August 2020 and has spent approximately $11.9 billion.
On November 12, MicroStrategy founder Michael Saylor shared that its treasury operations have seen it hit a BTC yield of 26.4% year-to-date, with shareholders receiving a net benefit of roughly 49,936 BTC.
“This is equivalent to 157.5 BTC per day, acquired without the operational costs or capital investments typically associated with bitcoin mining,” Saylor posted on X.
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cryptocurrency
Tether debuts WDK to bring non-custodial wallet access to humans and AI
Published
18 hours agoon
November 12, 2024By
adminStablecoin issuer Tether has unveiled a wallet development kit allowing developers and businesses to integrate non-custodian wallets for Bitcoin and USDT into apps and websites.
According to a Nov. 11 announcement, the WDK wallet development kit is designed for both human and digital beings like AI agents, robots, and autonomous systems.
Tether’s newly unveiled software, WDK, honors the “groundbreaking vision” of the 2008 Bitcoin white paper. WDK is designed to strengthen the firm’s commitment to the core principles of “decentralized and permissionless financial systems,” equipping developers with tools that prioritize “user sovereignty” and control, the announcement added.
The kit promises a “non-custodial” and “modular & customizable” approach, which Tether CEO Paolo Ardoino describes as essential for building “programmable, open, and resilient monetary systems.”
In a Nov. 11 X post, Ardoino announced that the kit will initially support Bitcoin and USDT, with plans to expand to all blockchains “supported by Tether’s stablecoins,” adding that WDK will also expand to offer UI templates to streamline wallet deployment across platforms.
Tether is currently the world’s largest stablecoin with a market cap of over $124 billion. The majority of Tether’s circulating supply is held on Tron and Ethereum, accounting for 46.8% and 42.31% of the total, respectively, according to DefiLlama.
Tether’s moves in the AI sector
The launch of the AI-supported development kit aligns with Tether’s commitment to embracing AI technology. It follows the establishment of an AI division in March, where the company aims to develop open-source AI models to tackle real-world challenges.
In an August interview, Ardoino said that decentralization could offer crucial independence in AI, which he described as “heavily politicized.” He noted at the time that Tether’s investment approach is focused on supporting AI projects aligned with decentralization and financial freedom, prioritizing ventures that challenge the centralized control of major tech players.
Last month, Tether unveiled its AI SDK, dubbed “Local AI,” during the Plan ₿ event in Lugano, Switzerland, offering a privacy-focused platform for running AI models locally on various devices.
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cryptocurrency
Bhutan’s Bitcoin holdings surpass $1b
Published
22 hours agoon
November 12, 2024By
adminBhutan, the Himalayan kingdom renowned for its happiness index, has seen its Bitcoin holdings surge to over $1 billion as the crypto market rallies.
Arkham, in data shared via X on Nov. 11, revealed that the Royal Government of Bhutan’s total Bitcoin (BTC) holdings had surpassed the $1 billion mark. The blockchain intelligence and analytics platform’s post came as the flagship cryptocurrency soared amid massive bullish momentum.
Bhutan’s foray into crypto isn’t new, with the South Asia country having invested millions of dollars in digital assets before. The country also sought partnerships with Bitcoin miners and in May 2023, allocated 5% of its gross domestic product on mining the world’s most popular cryptocurrency.
In September this year, Bhutan’s BTC holdings increased to over 13,000 bitcoins with the total value at the time around $750 million. While the figure was much lower than huge holdings of the United States, China and the United Kingdom, Bhutan held more than El Salvador. Notably, El Salvador is the first country to adopt Bitcoin as legal tender.
According to Arkham, Bhutan now holds 12,568 BTC, valued at more than $1 billion as Bitcoin’s price crossed the $82,000 level. The current value of Bhutan’s BTC holdings stands at $1.08 billion.
This figure could rise further if Bitcoin’s price continues its upward momentum, potentially exceeding $86,000 amid market enthusiasm.
Bhutan’s strategy contrasts with that of Germany, which sold its entire 50,000 Bitcoin holdings earlier this year, contributing to selling pressure on BTC.
Additionally, former U.S. President Donald Trump pledged during his campaign to never sell U.S. Bitcoin holdings, vowing instead to create a strategic Bitcoin reserve.
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