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The move aims to address rollup hacks.

Image created by the author in Canva © Author assumes copyright and provenanceINTERVIEWSocialFi Builder Explains Why Web3 Will Merge With Web2 — InterviewMgoes — a Web3 builder and a blockchain-tech expert — explains the finer points of SocialFi and eyes the Web3’s place in the technological dimension.

As the blockchain market is going further north, the Web3 industry branches out, coining the new technological phenomenons. But what is awaiting such a complex industry in the future?

To shed light on Web3’s potential, I asked Mgoes — a builder of SocialFi platform WalletChat — to share his expert insights on behind-the-curtains of the decentralized industry.

Introduction: about SocialFi and Web3 experience

– Seeing that you have vast experience in crypto and Web3, I would really love to know: how did you find yourself in this industry?

– It was completely random — a friend just wouldn’t shut up about Bitcoin back in 2014 🙂 Until I took a look. It took until 2021 though for me to get drawn in to do this full-time.

– You are currently running WalletChat — a decentralized social platform. How does blockchain actually enhance social communication platforms?

– There’s been a lot written about this. But the basic building blocks that Web3 social offers and Web2 cannot are uncensorability and a more effective flow of value to participants, i.e. creators and users. It is far from clear what the winning products will look like and how they will deploy their features, but it is highly likely that they will have these principles baked in at their core.

– Which potential does SocialFi have? Is it possible that blockchain-based media will dominate in the media dimension? Which steps should be taken for achieving this advantage?

– Yes it is, and this is the future we’re all working towards. It won’t be instant though, and it’s not clear that any of the existing products will achieve that status. It may take well over 10 years for X or Instagram to be replaced by a Web3 alternative. The best thing we can do is to continue building — it will take hundreds of new products experimenting with different configurations of the principles I just spoke about — all competing for attention — and the best few eventually coming to dominate.

About NFTs and cross-chain

– In 2021, one of the technologies that directly impacted the crypto was NFT. In 2024, are there any tech pieces that bring the equal revolution to the market?

– In terms of infrastructure, we have more performant blockchains like Solana and L2s, and we also have dePIN, which includes infrastructure for decentralised AI. I think though that most of the new primitives take a while to fully mature — and I’m personally spending more energy keeping my eyes on new projects built on the existing infrastructure, as even primitives that appeared one or two cycles ago are still in their infancy, in the larger scheme of things.

– Are NFTs dead? Why? If they are, can they be saved and how?

NFTs as a category are far from dead. I’d say the opposite — they are still in the process of being born. Thus I’m super bullish on this category. NFTs as 10k PFP collections is a different matter though and I’m not sure. There is no intrinsic reason why this format should dominate in the future. There is so much more NFTs can do. If we zoom in even more and talk about the specific NFT projects that have been dominating thus far, then I’m mostly bearish. History tells us that after any cambrian explosion (like the Dot-com bubble), 98% of projects die and only 2% go on living. Moreover, the initial cohort will be followed up with many new generations that will build on the learnings of the current NFT projects and do better. Just like Facebook did for MySpace.

– Many see the cross-chains as the latest pivotal trend. Can we see its reflection on the market?

Cross-chain will definitely continue increasing in importance, the more we have different cohorts of people using different chains, or the same people using different chains for different things. Even if you are an ETH maxi today, you need to operate cross-chain as, usually, you don’t bridge your assets directly onto the L2, and different apps will be present on different L2s. In this world, we will need a much better cross-chain infrastructure than we currently have. This said, I think the trend to build better cross-chain tools will continue for a long time, along with many other trends.

About L2s and market transformation

– We see that the smaller Web3 solutions surpass large networks in developer quantity. While Ethereum and Solana remain leaders, many investors cast their eyes on Celestia, Near Protocol, Ripple, WhiteBIT Coin, memecoins, and other assets. What do you think, why is such a tendency taking place?

– In developer quantity? I don’t think that’s the case but would love to see the stats, if I’m wrong. I’m pretty sure Ethereum still has the largest development pool by far and even if this were about to change, it takes a while for developers to reskill and become comfortable using other languages.

On top of this, similar network effects can be observed when it comes to established user bases. It will take really novel use cases that are not available otherwise, for existing users to switch to a different chain.

If you are talking about investors eyeing returns though — that’s a different story. There will always be more speculation on the hot new thing, partly because something with a 100x smaller market cap has a 100x larger upside. This metric doesn’t necessarily correlate with developer or user interest though. Even though raising more money does help with improving these metrics, eventually.

– Does this mean that a large number of local networks and their tokens will pull out mastodons from the market?

– Like I just said, I don’t think so. It takes a lot of time and effort to displace incumbents with established network effects. For each Solana, there will be 500 EOS-es.

– And which market would you personally like to see: the one with diverse token’s leadership, or monopolistic/oligopolistic market with dominance of a few large assets? Why?

– I think the best scenario is to have a bit of both. Monopoly of one or a few products is never a good thing — even though when it comes to blockchains, as long as that one product is sufficiently decentralised, it can’t behave in the same way as a traditional monopoly.

Though still, a healthy competition is always the best at helping the best ideas flourish. On the other extreme, having 1000s of small chains and none of them achieving scale is also not optimal — any one of them would lack the capacity to secure high value assets, and many protocols will rely on having trillions of dollars in liquidity or billions of users to achieve optimal utility. Many DeFi products and social networks are examples of this.

– Seeing that Web3-solutions’ tokens become even more popular, would you say that investors turned to prioritising asset’s utility within tokenomics/market analysis as a sort of fundamental factor?

– I wish! Certainly some do. But whenever the market becomes hot, it also drives irrational behaviour — or rather it becomes rational to do things that are irrational in the long-run. In other words, the game changes from investing in things with utility and long-term potential to funding whatever is likely to moon next and give you a 100x.

Tokens rarely moon because the utility or user base has increased 100x within a month — it is literally about predicting which narratives will people vibe with next, and jumping on the bandwagon before others do. Memecoins being the best performers this cycle thus far is exhibit A of this.

Blitz: Why Web3 Will Merge with Web2

– Will Ethereum overcome Bitcoin?

– Depends on how you define ‘overcome’. Will it flip Bitcoin’s market cap? It’s not looking like that right now but things could change. Will Ethereum have a much higher volume of transactions than BTC? Already the case and likely to continue. At the end of the day, it’s not a zero sum game for these two. Historically flourishing BTC has been good for ETH and vice versa. Just like in web2, Meta going up is also good for Amazon.

– Name top three of your favourite altcoins

– Sorry, but I won’t comment. I steer away from giving hot tips on what to invest in, because this is not a one-size-fits-all situation, and your approach will depend on so many factors, such as are you planning to hold for multiple cycles, are you looking for a quick flip, do you invest based on conviction or whatever trends, how diversified is your current portfolio, and etc. Anybody who tells you ‘buy A, B, or C’ is a crook or shilling their own bags. Happy to talk about the products I’m using though!

– Will Web3 ever overcome Web2, or will they remain separate industries?

– Neither one or the other. They will gradually merge, just like the Internet has been merging with the physical world, over the past 25 years. Yes, there will be some Web3 companies that obliterate their Web2 predecessors (remember Netflix vs Blockbuster). There will be some Web3 products happily coexisting with their web2 alternatives (like Amazon vs Walmart). And there will also be Web2s that adapt and develop Web3 capabilities before anyone disrupts them (Telegram comes to mind as a potential contender). And finally, not everything needs to be on-chain on crypto-native just like not every business got disrupted by the Internet (think dine-in restaurants).

Closing remarks:

– What is awaiting Web3 in the future?

– A lot of ups and downs. Many billionaires minted faster than ever, many people having lost their life savings faster than ever. A lot of great products that become indispensable to us. Greater financial freedom and freedom of expression for the whole world. A more level playing field, wherever you are, whoever you are. Basically the evolution of the internet, but on steroids.

SocialFi Builder Explains Why Web3 Will Merge With Web2 — Interview was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.

The post Ripple Kicks Back Against $1.95 Billion Fine; Milei Moneda ($MEDA) Presale Boosts Past Market Expectations appeared first on Coinpedia Fintech News

In the ongoing Ripple-SEC dispute, Ripple Labs has vehemently contested a $1.95 billion fine, asking for a mere $10 million penalty. Meanwhile, Milei Moneda ($MEDA) has emerged as a disruptive force, blending comedy, politics, and crypto innovation.

Let’s discuss what’s happening around XRP and $MEDA to determine the best crypto to invest in!

Economize Like Milei: Invest in $MEDA!

Ripple Fights the SEC: $1.95 Billion Fine Dispute

Ripple Labs has repeatedly stated that the SEC is wrong to demand a $1.95 billion fine, and the company believes it should be just $10 million. This act manifests Ripple’s stand against the enforcement body’s whopping fine, which arises from the charges of law breach regarding federal securities law violations and XRP sales. 

In its legal accusation, the company contests the SEC’s claims and wants the court to deny injunctions, disgorgement, and prejudgment interest. However, Ripple’s response to the SEC’s accusation clearly indicates their resolve to prove that the SEC is wrong and that there is a possibility of less financial loss. 

This position itself might be an optimistic scenario for XRP investors, but the outcome of this case might be unclear, making the impact on XRP’s value uncertain. The onus of constant scrutiny and precise decision-making continues throughout this long-running courtroom ordeal. 

Based on this, analysts expect XRP to go bullish. They suggest a $1.22 altcoin price for XRP by June, making it a good crypto to buy.

Milei Moneda: The Best Cryptocurrency Pick for May 2024

Milei Moneda is a rare crypto-comedy-political blend, which is stretched like a spider web over the whole crypto world. Moreover, inspired by Javier Milei, the famous Argentinian economist and politician, this project reflects rebellion and innovations. 

Furthernore, through its deflationary token nature, together with the coolest NFTs, Milei Moneda is not just another meme coin but rather a community-focused project that aims at economic reform and financial freedom. The governance and membership token, $MEDA, gives its holders discounts, voting rights, and unique content in addition to being the entry pass to the Milei Moneda ecosystem. 

Smart contract audits and an active social media presence will serve as the backbone for a locked liquidity pool, which will be the pillar of Milei Moneda‘s success and what makes it one of the best altcoins in 2024.

Moreover, $MEDA’s upcoming launch on Uniswap on May 21, at a DeFi coin price of $0.020, is a step towards a new realm for those who are interested in laughter and want to enjoy a combination of profit and amusement. New investors can achieve an exciting 60% profit after $MEDA’s launch, as currently each token is priced at $0.0125.

Got $MEDA curiosity? Visit us or chat on Telegram for the inside scoop. Fast, fun, and informative!

The post Bitcoin’s STH-Realized Price Creates A Strong Support Around $60K! Will BTC Price Rebound? appeared first on Coinpedia Fintech News

April was tough for Bitcoin as it fell below key support levels and approached weekly lows, pressured by macroeconomic and geopolitical issues. Despite the bearish trend, the Short-Term Holder (STH) Realized Price suggests a potential buying opportunity, hinting at a possible bullish reversal.

Bitcoin’s STH-Realized Holds Support  

In the past 24 hours, the cryptocurrency market has seen significant selling activity, with total liquidations surpassing $130 million. Both Bitcoin and Ethereum prices are experiencing notable declines, indicating strong selling intent from market participants. Current blockchain analysis shows that the Short-Term Holder Realized Price for Bitcoin is serving as an important support level, making it potentially a good time to purchase Bitcoin during this downturn.

The Short-Term Holder Realized Price is the average price at which Bitcoin was last traded by investors who held onto it for a short period, usually less than six months. This measure is vital as it represents the holding sentiment of the newest market participants and offers insights into price expectations and overall market trend.

Currently, this metric stands at about $59,788, marking it as an essential temporary support level for Bitcoin’s price. With Bitcoin’s market price currently above this metric, it shows that recent investors remain confident and that the market’s upward trajectory might continue. For both new and long-term investors, buying at the current levels could prove to be profitable.

When Bitcoin’s market price is higher than this average, it suggests that short-term holders are not facing losses on their investments, making them less likely to sell at a loss and hence reducing the downward pressure on Bitcoin’s price.

What’s Next For BTC Price?

Bitcoin has been fluctuating between $59,000 and $65,000 for several days, suggesting a strong battle among bulls and bears. Currently, bears are targeting a drop below $60,000 to boost their bearish positions. At present, BTC is trading at $62,919, marking a decrease of over 0.4% in the past 24 hours.

Typically, during such periods, traders tend to purchase near support levels and sell near resistance levels. The $59,000-$60,000 range is expected to be strongly defended by bulls, as breaching it could trigger a deeper correction towards the 61.8% Fibonacci retracement level at $54,400, potentially delaying the start of the next upward trend.

On the other hand, if the price rebounds from the current level or the $59,000 support, it would suggest that bullish momentum holds at lower levels. This could send the BTC/USDT pair towards $65,000 initially, with further targets at the upper resistance level of $67K. A breakout and close above this level would signal the beginning of the next upward phase towards $72,000.

The long/short ratio is dropping significantly, presently standing at 0.7103, with more than 58% of positions expecting an imminent decline in BTC price.

One of the earliest Bitcoin advocates is staging a comeback.

The post Revolutionizing Your Wealth: Cryptos to Invest in Now appeared first on Coinpedia Fintech News

The surge in value across cryptocurrencies marks an exciting phase for investors seeking to amplify their wealth. As the bull run gains momentum in 2024, identifying the right cryptocurrencies for investment becomes crucial. This article dives into the cryptocurrencies that stand out in the current market, promising potential for substantial returns. The focus is to offer insights into which cryptocurrencies could lead the charge in this transformative era of investment.

CYBRO Presale: Meet the First-Ever Earn Marketplace on Blast

CYBRO introduces a unified marketplace for consistent crypto earnings, utilizing the Blast blockchain’s innovation. Launching in Q2 2024, the platform invites early investors to its presale for favorable entry terms.

From now on, CYBRO offers its native tokens at attractive prices, starting from just $0.020 apiece, an astounding 66% discount. Token holders will gain preferential access to marketplace services and various bonuses for an enhanced earning experience.

CYBRO will equip users with tools for increased income generation, such as staking, leverage farming, and lending. Enhancing Blast’s competitive interest rates, CYBRO will initially focus on high-yield staking, bolstered by state-of-the-art crypto-fiat and self-custody options.

Beyond staking, CYBRO tokens will enable an exclusive Airdrop, marketplace cashback,  reduced trading and lending fees, and the in-house insurance program.

This robust functionality positions CYBRO for potential value growth just after the TGE in Q3 2024, significantly benefiting presale investors.

>>CYBRO Presale Is NOW Live<<

Sei’s Current Stance and Future Market Trajectory

Sei’s price has seen a significant 435% increase over the last six months, signaling strong investor interest. Despite a recent one-month setback of 30.07%, the weekly change is positive at 0.7204%. Currently, the price fluctuates between $0.4924 and $0.6485, with the coin’s movements showing a mix of ups and downs, hinting at both impulsive and corrective dynamics within this range.

Looking ahead, SEI could continue on its upward path if it breaks past the nearest resistance at $0.7085. However, cautious investors should note the possibility of a downward turn towards the support level of $0.3963. The mixed signals provided by a balanced RSI of 55.74 and a Stochastic indicator of 45.85 suggest a potential for both growth and retraction in the short to medium term.

Jupiter Navigates Volatile Waters: A Price Insight

Jupiter’s price has been on a rollercoaster with a significant leap over the past six months, currently fluctuating between $0.96 and $1.28. This past week, JUP’s value dipped by 13.27%. Over the last month, it fell by 22.29%. Despite these drops, it has surged impressively by 3323.99% in the last half-year. The coin’s movements show a mix of ups and downs, suggesting a balance between impulsive and corrective trends.

Looking ahead for JUP, the outlook combines hope with caution. Its climb from the six-month view suggests a strong potential upside. However, recent pullbacks highlight the coin’s volatility. With Jupiter approaching key resistance at $1.41, a break above could pave the way to $1.73, but failing to hold could see it drop towards support at $0.77, or even $0.45 in a bearish scenario. With the RSI at a neutral 53.08 and mixed signals from other indicators like Stochastic and MACD, investors should watch for any sign of a trend establishing.

Injective Protocol (INJ) Swings Widely

Injective Protocol (INJ) prices have been on a rollercoaster, currently sitting between $24.38 and $31.05. Over the past week, INJ fell by 11.62%, and losses extended to 31.64% over the past month. Yet, looking back six months shows an impressive surge of 98.95%. The price movement now leans towards correction after the recent spikes, with indicators like the Relative Strength Index at 54.43 suggesting a midway point between oversold and overbought conditions.

For INJ, future price action seems unpredictable. The nearest resistance level lies at $33.80, while support is closer to $20.47. Should the coin push past current resistance, the next challenge is at $40.46; alternatively, a dip might bring it down to the second support around $13.80. With the moving averages hovering around $26, a consolidation phase might occur before any significant trend emerges. Optimism comes from the recent six-month gains, but caution is warranted due to the recent downward trend.

Celestia’s Current Moves and Price Prediction

Celestia’s price swings between $9.67 and $12.90 recently. In just one week it dropped by 12.64%, and in the last month, it fell by 26.44%. Despite the drops, it has soared over six months, up 204.65%. With its current moves, Celestia trades in a mixed pattern, showing both gains and drops, but it’s not in a fast move up or down right now.

The future of Celestia’s price could go either way. It might rise to face resistance near $14.29, and if it pushes past that, it could aim for $17.52. Yet, if things turn, it could fall to support levels at $7.82 or even to $4.59. The recent price trend is wobbly, and with indicators like RSI and MACD showing middle ground, it’s hard to tell if it’ll swing up high or dip down low next.

Conclusion

Cryptocurrencies like SEI, JUP, INJ, and TIA might have lower short-term growth potential. However, the focus is on CYBRO, a unique earn platform built on the Blast blockchain. CYBRO’s big launch is planned for the second quarter of 2024, but early investors have a chance to buy into the project now. The presale of CYBRO tokens gives these investors a head start with favorable conditions.

• Site: https://cybro.io
• Twitter: https://twitter.com/Cybro_io
• Discord: https://discord.gg/xFMGDQPhrB
• Telegram: https://t.me/cybro_io

The post Why Is the Market DOWN Today? Should You Buy the Altcoin Dip? appeared first on Coinpedia Fintech News

The cryptocurrency market is experiencing a downturn, leaving investors eyeing the shifting prices closely. The question on many minds is whether it’s the right moment to take advantage of the lower prices of various altcoins. Factors that might be influencing market movements are varied and complex. As we move further into the bull run of 2024, understanding these elements is crucial in making informed investment decisions. This article aims to shed light on the reasons behind today’s market conditions and explores the potential benefits and drawbacks of buying altcoins now.

BlastUP Presale Ends in Few Weeks, Last Chance to Buy Cheap

BlastUP presale has sparked avid interest among crypto enthusiasts, reaching $5 million in record low time. Over 12,000 savvy investors have already bought BlastUP tokens before their value skyrockets.

The presale runs until the end of May, so there is some time to boost your crypto holdings with BlastUP, the asset poised for explosive returns of up to 1000%. Currently sold at a few US cents, BlastUP tokens are projected to reach $10 by the end of this year.

Holders of BlastUP tokens may benefit from a number of privileges including participation in an Airdrop , exclusive loyalty rewards for participating in IDOs, and the ability to earn interest through staking.

BlastUP stands out from the crowd in the crypto world. Backed by Blast, the sixth largest blockchain by TVL, it offers genuine utility as a launchpad for DApp ventures. With its motto Grow faster, earn more, BlastUP is dedicated to propelling the success of blockchain startups. Those who join BlastUP now become part of a project poised to become the next big thing in this bull run.

>> Time is Ticking –  Buy $BLP Before May Ends! <<

Aptos Crypto Price Shifts and Trends

Aptos (APT) has seen some movement, with prices currently sitting between $8.13 and $10.12. Over the last week, the coin dipped by roughly 11%, and over the past month, it fell almost 48%. However, over six months, it’s up by about 27%. The coin’s moves look mixed, with some fast rises and falls. Prices are now leaning toward the lower part of the recent range.

Looking ahead for Aptos, we’re at a crossroads. The coin could climb toward the first tough spot near $11.26, or slip to the nearest comfort point at $7.27. Over time, Aptos might reach for the second high challenge at $13.25 or drop to a deeper floor around $5.28. Optimism comes from the six-month gain, but current drops urge a careful eye. The technical gauges show room for movement either way.

Starknet Crypto Sees Volatility: Insights on Current Price Movements

Starknet (STRK) has shown a lot of change lately. Over the last week, it dropped by about 8.37%. In the past month, it fell by almost 45%. But in six months, the price shot up, gaining nearly 500%. Today, it’s trading between $1.11 and $1.40. The price seems to be making smaller moves, not big jumps or drops.

Looking ahead, Starknet (STRK) could see different results. It’s got a resistance level at $1.54, a point where it might struggle to climb higher, and support at $0.96, where it could stay stable. There’s hope as its six-month rise was strong, but recent falls suggest careful watching. The market is always uncertain, so the coin might go up or down.

Pyth Network Price Update: A Week of Fluctuation

Pyth Network (PYTH) experiences price fluctuations within $0.51 to $0.67 this week. This represents a sharp drop of 16.94% compared to last week. Over the past month, PYTH has decreased by 39.27%, but if you look back six months, the coin has grown by 43.96%. PYTH is currently seeing corrections as indicated by the lower Relative Strength Index and negative MACD Level.

Looking ahead, PYTH might test the nearest resistance at $0.77 if it gains momentum. However, potential drops could see it hit a support level of $0.45. The low RSI and Stochastic suggest PYTH is not in the overbought zone, leaving room for upward movement. Yet, investors should be mindful of possible declines, considering the current corrective trends and the 10-day and 100-day moving averages that show the price below recent highs.

Uniswap Price Movement and Market Sentiment

Uniswap (UNI) sees its current price ranging between $7.40 and $8.31, with a decline of 1.24% over the past week and a sharper drop of 39.51% over the past month. However, in the last six months, UNI has shown strength with an 83.96% increase. The price action suggests a corrective phase, as indicated by a Relative Strength Index (RSI) of 37.11, signalling it is not overbought.

Looking ahead, UNI faces resistance at $8.79 and, further up, at $9.69, which could cap upward movements. Support levels to watch if the price declines are at $6.98 and $6.07. While current trends imply a cautious stance, the significant 6-month gain reveals underlying momentum that could reignite with positive market shifts. The mixture of slow stochastic and negative MACD points to the need for vigilance but also leaves room for potential recovery.

Conclusion

The market downturn presents a challenging environment, with many altcoins seeing a decline in value. Among them, APT, STRK, PYTH, and UNI show limited short-term growth potential. However, BlastUP stands out, offering a strong concept within the Blast ecosystem. This project has emerged with significant growth potential, positioning it as a solid consideration for those looking to capitalize on the current market conditions. With the bull run of 2024 unfolding, attention has shifted towards BlastUP for its promising future.

• Site: https://blastup.io/
• Twitter: https://twitter.com/Blastup_io
• Discord: https://discord.gg/5Kc3nDhqVW
• Telegram: https://t.me/blastup_io

Traders gear up for a week filled with corporate earnings, key job reports, and a Fed meeting.