BLUE CHIP (BCHIP) 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.

GMMEME Joins Bitget Futures: Your Ticket To The Memecoin Market's Heartbeat

Step into the rhythm of crypto culture with GMMEME, the new perpetual futures contract on Bitget that connects traders to the viral culture of memecoins. GMMEME channels the humour, creativity, and community spirit that define this unique market and transforms these cultural icons into powerful financial opportunities. Designed for those who see beyond fleeting trends, GMMEME offers a direct line to the heart of memecoin momentum, where strategy meets the dynamic pulse of digital innovation. What Makes GMMEME More Than Just Fun? Curated by GMCI, the GMMEME Index tracks the top-performing memecoins to combine their viral appeal with data-driven insights. With Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) leading the pack, the index captures the essence of memecoins: engagement, volatility, and a pinch of chaos. These assets, born from internet culture, are now shaping real-world financial decisions while evolving from niche tokens into market phenomena. But why stop at owning memecoins? With the GMMEME perps, Bitget empowers traders to leverage their insights on this high-energy sector, navigating it with tools built for precision and flexibility. Whether you’re bullish or bearish on memes' staying power, GMMEME gives you the vehicle to turn sentiment into strategy. Why GMMEME Perps Are Your Next Move Memecoins are the pulse of crypto culture—a space where humour meets boldness, and collective imagination sets the pace. However, trading these assets directly can be fragmented and require constant recalibration of positions. GMMEME perpetual futures consolidate that complexity into a single, robust instrument. Here’s why GMMEME on Bitget stands out: - A dynamic index, built for agility: The GMMEME Index is rebalanced monthly to reflect market trends and new viral sensations. This ensures that your exposure stays fresh and aligned with the movements of the top memecoins. No more worrying about chasing individual tokens—this index does the work for you. - High leverage, maximum opportunity: With up to 10x leverage, GMMEME perps turn your calculated risks into amplified rewards. This isn’t about gambling; it’s about precision. Bitget’s perpetual contracts allow you to take full advantage of the memecoin market’s inherent volatility to turn momentary price movements into substantial opportunities. - Control meets flexibility: Unlike delivery contracts, perpetual futures remove expiration dates so that you have the freedom to dictate your exit strategy. Whether you’re holding on for the next viral surge or closing positions on sharp downturns, GMMEME gives you control over your narrative. - Deep liquidity for smooth execution: In a market as volatile as memecoins, liquidity matters. Bitget ensures that every trade, no matter the market conditions, is executed with precision. The absence of slippage, even during high-volume trading, ensures that your strategy isn’t compromised by technical limitations. Why Act Now? Because Memes Don't Wait. It’s tempting to dismiss memecoins as fleeting novelties, but they represent something much deeper. These assets have redefined what it means to engage with finance in the digital age. They are proof that community, humour, and culture can generate tangible economic value. By trading GMMEME futures, you’re not just entering a market; you’re engaging with a movement. You’re betting on the resilience of a cultural phenomenon that has already shown its ability to adapt, grow, and surprise. Memecoins thrive on momentum. Their lifeblood is attention, and their market movements can be swift and explosive. Missing out isn’t just about losing potential profit—it’s about being left behind as others shape the narrative. With GMMEME futures, you’re not only participating in the moment; you’re strategically positioning yourself to ride its waves, whether they rise or fall. Bitget’s platform takes this to another level with its world-class interface that is tailored for traders who demand the best. Advanced charting tools, real-time data, and seamless execution are just the starting points. What truly elevates this experience is the ability to trade memecoins at the same calibre as blue-chip cryptocurrencies to merge whimsy with expertise. The Future Is Now In a market that never sleeps, timing is everything. The launch of GMMEME on Bitget Futures is your signal to act—not tomorrow, not next week, but now. With the right tools, strategies, and a platform designed to amplify your capabilities, this is more than a trade; it’s an invitation to shape your place in one of the most dynamic corners of the crypto landscape. The joke’s on those who wait. Trade GMMEME on Bitget Futures today!

BGB Is Now Available On Bitget Futures Market: Fuelling The Growth Of A Robust Ecosystem

Three years and 18 new ATHs, BGB is now finally available on the Bitget Futures Market - first with USDT as margin! Let's revisit Bitget's vision for itself as well as for BGB to see how this is inevitable. The Mutually Beneficial Relationship Between Bitget And BGB Bitget and our native token, BGB, share a mutually beneficial relationship where each supports and enhances the value and functionality of the other. This interdependence is particularly evident when BGB is available on both Bitget Spot and Futures markets. BGB Can Benefit From The Established Reputation Of Bitget As a leader in the sector, Bitget can guarantee the success of BGB, especially as we continue to expand our products and services in even more countries and regions. BGB can have improved liquidity through increased trading volume: The introduction of the perps market for BGB means higher aggregated trading volume across both spot and futures markets, which show active trading derived from strong user interest from a big cryptocurrency exchange like Bitget. This leads to improved liquidity, i.e. the ability of BGB to handle large trades without causing a ripple price impact. At the same time, high trading volume reduces volatility and enhances market stability, making BGB more attractive to both retail and institutional investors and boosts its reputation. The availability of sophisticated financial tools like futures for hedging/risk management against market fluctuations and leverage for amplified profits on the same platform provides convenience and assurance for even the most cautious investors and should attract more institutional investors. Bitget can foster more efficient price discovery and better price stability for BGB: Perpetual futures contribute to more efficient price discovery by aggregating diverse market opinions and information. This continuous trading helps reflect a more accurate value of BGB. Since traders can now speculate on BGB's future price movements, they have the power to influence the market’s perception of its value - but the considerable number of traders on Bitget ensures fair evaluation of BGB rather than price manipulation, and thus should support more balanced and stabilised pricing over time. Don't forget that Bitget's trading fee discounts and incentive programs for BGB demonstrate operational success and financial health of our platform to reassure investors and stakeholders of BGB's stability and attractiveness. Bitget Can Benefit From Market Maturity, Credibility, And Success Of BGB As BGB is able to enjoy increased higher levels of market participation, this will, of course, become a new revenue stream for the platform's operational success. Meanwhile, it can also serve as proof of Bitget's credibility in that (1) Bitget can handle trades on any market of any size without significant impact, and (2) Bitget is able to attract and retain a diverse range of users with our various products and services, from retail traders to institutional giants. In the first month of 2024 only, BGB broke its all-time high no less than 6 times and, as a result, is the reason for many new user registrations on Bitget. BGB holders are direct beneficiaries of Bitget's expansion and growth, therefore this sustainable financial model should definitely support Bitget long-term prosperity. The Launch Of The Perpetual Futures Market For BGB And Future Outlook BGB is on a trajectory of remarkable growth driven by its strong fundamentals and the innovative strategies employed by Bitget. It has already demonstrated its resilience and potential by reaching consecutive new all-time highs and outperforming many other cryptocurrencies despite market fluctuations. The launch of a perpetual futures market is poised to further elevate BGB's standing in the crypto ecosystem by significantly enhancing liquidity and market depth to make sure that BGB markets remain active and robust for all retail and institutional investors who require liquid markets for their strategies. High liquidity also diminishes volatility and enhances market stability, which in turn boosts investor confidence and BGB's overall appeal. By providing a platform for continuous trading and speculation of BGB, Bitget Futures Trading makes it clear that the token’s price accurately reflects its intrinsic value based on comprehensive market information to further build up trust of well-functioning and transparent BGB markets among investors. If BGB continues to break new ground and set higher benchmarks, we can pin our faith on the solidification of BGB's status as a blue-chip cryptocurrency, Bitget’s position as a leading cryptocurrency exchange and the realisation of a robust ecosystem that benefit all parties involved. How To Trade BGBUSDT Perpetual Futures Below is the simplified guide on trading BGBUSDT on Bitget Futures Trading: Step 1: Transfer USDT to your futures account. Step 2: Choose the BGBUSDT futures trading pair. If you're on your laptop, simply click on this link. If you use the Bitget mobile app, select the BGBUSDT pair. Step 3: Choose the margin mode (cross/isolated). Step 4: Set the leverage. Step 5: Select the order type. Step 6: Review your order and click on [Buy] to place a long order or [Sell] to place a short order. If you want to get familiar with all features of Bitget Futures Trading real quick, we recommend you devour every guide on this list: What Are Futures? Key Futures Trading Terms and Their Application Scenarios A Comprehensive Introduction to USDT-M Futures, USDC-M Futures, and Coin-M Futures How To Make Your First Futures Trade Calculation of Funding Rates in Futures Trading Futures Transaction Fee Calculation How to Avoid Liquidation Introduction to Futures Trading Modes Introduction to Margin Mode Introduction to Futures Order Types Introduction to Take Profit and Stop Loss (TP/SL) in Futures Trading

Artfi (ARTFI): Pioneering a New Era of Art Investment

What is Artfi (ARTFI)? Artfi (ARTFI) is a pioneering investment platform designed to revolutionize the traditional art world by merging it with the innovative Web3 infrastructure. Its mission is to democratize the $1.5 trillion fine art and collectibles market and allow nearly anyone to enjoy the financial benefits of investing in iconic blue-chip artworks by world-famous artists. By harnessing the power of blockchain technology and NFTs, Artfi makes it possible for retail investors, family offices, fraction traders, and art enthusiasts to collectively own million-dollar works of art and gain access to an alternative asset class for portfolio diversification. Who Created Artfi (ARTFI)? Artfi was founded by Asif Kamal, a renowned art connoisseur and collector. Kamal is also the founder of Alturaash Art, an international art house based in Dubai and Delhi. His deep understanding of the art world has been crucial in shaping Artfi’s vision. Co-founder and COO, Aly Raza Beig, brings a wealth of experience in Web3 technologies. He is also the founder of BoredPuma, a leading creative agency in the Middle East focused on Crypto, NFTs, and Blockchain Development. The team is supported by Francis Gurry, an internationally recognized expert in intellectual property. Gurry served as the Director General of the World Intellectual Property Organization (WIPO) from 2008 to 2020. Raza Beig, an avid art collector and CEO of the Splash fashion brand, adds his expertise in art, fashion, and creativity to the team. Her Highness Sheikha Hend Faisal Al Qassemi, an accomplished architect, artist, and entrepreneur, is also part of the team. She is the CEO of Paris London New York Events Publishing (PLNY), which includes Velvet Magazine, House of Hend fashion house, and The Flower Cafe. Sameh Sadaqa, the Lead Blockchain Engineer, brings his skills in building smart contracts and developing NFT marketplaces to Artfi. What VCs Back Artfi (ARTFI)? Artfi is backed by notable venture capital firms, including Sui and DWF Ventures. Their support has been instrumental in bringing Artfi’s vision to life, providing the necessary resources to develop and expand the platform. How Artfi (ARTFI) Works Artfi’s process can be broken down into several key steps: Selection, Acquisition, Fractionalization, Trade or Hold, Sale, and Royalties. Selection Artfi’s world-class art experts carefully select distinguished works of art for acquisition. Only artworks with impeccable provenance are considered, ensuring that the pieces in the Artfi collection are of the highest quality. Acquisition Artfi acquires artworks on consignment from sellers. This means that Artfi does not purchase the artworks outright but rather holds them on behalf of the sellers. This approach ensures that only authentic and high-quality pieces are included in the collection. Fractionalization Once an artwork is acquired, it is fractionalized into multiple NFTs. Each NFT represents a fraction of the artwork, allowing multiple people to own a piece of it. The Artfi team determines the number of fractions for each artwork, which directly affects the price of each NFT. The physical artwork is displayed in the Artfi museum in Dubai once all NFTs are sold. Trade or Hold Artfi NFTs are liquid, meaning they can be traded on the Artfi marketplace at any time. Investors have the option to hold onto their NFTs or sell them to others. Additionally, users can stake their NFTs to receive a portion of royalties from secondary market trades. Sale After a period of time, when market conditions are favorable, Artfi may approach the community for permission to sell an artwork. If the community agrees, the artwork is sold, and each NFT holder can redeem their NFT for their share of the revenue generated from the sale. Royalties Every sale on the secondary market includes a percentage of royalties. These royalties are divided into three categories: ● Community Royalties: A portion goes to the community of Artfi NFT holders. ● Minter Royalties: A portion goes to the minter who originally bought the Artfi NFT during the primary sale. ● Artist Collector Royalties: A portion goes to the artist or collector who consigned the artwork with Artfi. ARTFI Goes Live on Bitget ARTFI is the native token of Artfi. Trading ARTFI on Bitget offers a unique opportunity to engage with Artfi's innovative revenue-sharing model. As a deflationary utility token on the Sui blockchain, ARTFI tokens facilitate NFT marketplace payments, reward stakers, and act as a store of value. With a buy-back and burn mechanism that allocates 30% of revenues from commission fees and artwork sales to burning tokens, the supply is continually reduced, potentially increasing value over time. Holding ARTFI tokens also provides benefits like early access to exclusive art offerings and participation in revenue distribution. As Artfi grows and generates higher revenues, the value of its tokens is expected to appreciate, reflecting the platform's success and offering long-term value to its holders. So trade ARTFI on Bitget right now to get the first-mover advantage of a new art world! How to Trade ARTFI on Bitget Listing time: June 17, 2024 Step 1: Go to ARTFIUSDT spot trading page Step 2: Enter the amount and the type of order, then click Buy/Sell. Trade ARTFI on Bitget 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.

Future-Proof Your Portfolio: Join The Bitget Wallet (BWB) IEO On Bitget Launchpad

With robust features and support for over 100 public chains, Bitget Wallet aims to create a comprehensive and seamless blockchain experience for users. It's time to step into the future by participating in the Bitget Wallet (BWB) IEO on Bitget Launchpad! What Is Bitget Launchpad And What Is An IEO? Bitget Launchpad is your gateway to supporting innovative blockchain projects. It offers a platform to launch new tokens, giving them the exposure they need to flourish. Imagine it as a grand stage where the latest and greatest projects make their debut. Bitget Launchpad is a treasure trove for discovering the next generation of blue-chip tokens - the future stars of the blockchain world that are handpicked and vetted by Bitget to ensure they have the potential to shine brightly. By joining exclusive events on Bitget Launchpad, you get early access to these promising projects at a favourable price before they hit the broader market. An Initial Exchange Offering (IEO) is like a fancy fundraising gala hosted on an exchange platform. Unlike the usual ICOs, where the project team does all the heavy lifting, an IEO has the exchange itself handling the token sale. This means more security, more credibility, and a lot more trust, as the exchange has to carefully review the projects before providing the platform for the token sales. This does not only give investors peace of mind but also guarantees that only high-quality projects are presented. What Is Bitget Wallet And What Is BWB? Bitget Wallet is a multi-chain wallet that packs a punch with features like wallet Swap Trading, an NFT Marketplace, a DApp Browser, and Launchpad functionality. It supports over 100 public chains, including Ethereum, BNB Chain, Arbitrum, Polygon, and Avalanche. It’s like having all the best tools at your fingertips for top-notch trading prices. Bitget Wallet is Bitget’s way of supporting Web3's sustainable growth and marks our first adventurous step into the decentralised universe. By bundling various blockchain services into one nifty platform, Bitget Wallet aims to create an ideal experience for users. It’s all part of Bitget’s grand vision to drive the adoption of decentralised technologies and foster a more open and transparent financial system. BWB is the star token of Bitget Wallet. It’s your ticket to accessing various features and services within the wallet, joining in on governance, and earning rewards. Holding BWB tokens also means you get exclusive benefits and privileges on the Bitget platform. Why Join The Bitget Wallet (BWB) IEO On Bitget Launchpad? Bitget Wallet combines various blockchain services in one place, making it a project with top potential in the Web3 space. The IEO on Bitget Launchpad provides a secure and credible investment environment. Early access to BWB tokens could be your golden opportunity to benefit from the growth of the Bitget Wallet ecosystem. Plus, you can invest in both BGB (Bitget's native token) and USDT with complete flexibility. And let’s not forget, Bitget Wallet supports over 100 public chains for broad utility and integration. Joining an IEO on Bitget Launchpad means you're backing projects with strong fundamentals and real potential. The platform's rigorous selection process makes sure that only the most promising projects make it to the launchpad. This is your great chance to be part of the next big thing in the blockchain space. Below are details of the upcoming Bitget Wallet (BWB) IEO on Bitget Launchpad: Schedule And Participation Process For The Bitget Wallet (BWB) IEO On Bitget Launchpad Here’s the lowdown on how to get involved, with each stage and its time period: 1. Position Calculation stage: From June 01 2024, 03:00 UTC to June 04 2024, 03:00 UTC, Bitget will take hourly snapshots of your BGB or USDT holdings across all accounts (spot, margin, futures, funding, and earn accounts). Make sure you maintain sufficient BGB or USDT during this period. 2. Commitment and Investment stage: From June 04 2024, 06:00 UTC to June 06 2024, 06:00 UTC, we will calculate your average BGB or USDT holdings and the corresponding maximum commitment you can make to the IEO. The BGB exchange price will be announced at the start; you have two days to make the commitment. 3. Calculation stage: On June 06 2024, 08:00 UTC, we will finalise the committed numbers. If your amount goes over the cap, the extras get shared around. 4. Distribution stage: On June 06 2024 from 08:00 to 12:00 UTC, Bitget will deduct the corresponding BGB or USDT based on your allocation. The remaining funds and your allocated BWB tokens will be safely deposited in your spot account. 5. Trading goes live: On June 06 2024, 12:00 UTC, the BWB/USDT spot trading pair will be available on Bitget Spot Trading. How Bitget Calculates Your Token Commitment Bitget uses a straightforward formula to calculate how many tokens you will be allocated based on your token (BGB or USDT) commitment. Here’s how it works: Formula: Allocated tokens = (Committed tokens / Sum of all users' committed tokens) × Total tokens in the Launchpad promotion. Let’s break it down with an example. Suppose there are 100,000,000 Tokens A up for grabs in a particular Launchpad promotion. There are 8 users committing BGB. If you commit 5,000 BGB and the other 7 users commit a total of 65,000 BGB, your allocation would be calculated as follows: ● Your committed BGB: 5,000 BGB ● Total committed BGB by all users: 70,000 BGB ● Total tokens available: 100,000,000 Tokens A Your allocation = (5,000 BGB / 70,000 BGB) × 100,000,000 Tokens A = 7,142,857 Tokens A (approximately 7.14% of the total). Individual Cap: To manage risk, Bitget sets an individual cap for Launchpad promotions. If your allocated amount exceeds this cap, the excess tokens will be redistributed to other users who have not yet reached their cap. For instance, if the individual cap for Token A is set at 20,000,000 BGB, and your initial allocation exceeds this amount, the excess will be adjusted and redistributed. How Bitget Calculates Your Average BGB And USDT Holdings The calculation of your average BGB holdings during the Position Calculation stage is vital for determining your maximum investment. Here’s how it’s done: 1. Hourly snapshots: During the Position Calculation stage, Bitget takes hourly snapshots of your BGB or USDT holdings across all your accounts, including spot, margin, futures, funding, and earn accounts. 2. Average holdings formula: The formula for calculating your average holdings is: Average holdings = (Sum of BGB or USDT holdings in each hour) / (Number of snapshots) Example: Suppose the snapshot period is from 1 June, 06:00 UTC to 4 June, 06:00 UTC, which is a total of 72 hours. If you have the following BGB holdings during this period: ● 1 June, 06:00 UTC: 1,000 BGB ● 2 June, 06:00 UTC: 2,000 BGB ● 3 June, 06:00 UTC: 3,000 BGB Your average BGB holdings would then be: ((1,000 BGB × 24 hours) + (2,000 BGB × 24 hours) + (3,000 BGB × 24 hours)) / 72 snapshots = 2,000 BGB. This average is used to determine the maximum amount of BGB you can commit during the IEO. Ready to get started? Dive into the Bitget Wallet (BWB) IEO on Bitget Launchpad today and be part of something big in the Web3 world. Grab your chance to invest early!

Crypto Love: BGB Broke Its ATH On Valentine's Day

While the broader markets heavily focus on the 'Bitcoin back to US$50K' narrative, we are excited to see BGB outperform the billion-market cap club with new ATH records - YES it's plural. Bitget's native token breached the US$1 mark within less than 50 days into the new year and only around two years after relaunch. TL;DR: BGB is becoming the new crypto staple Studying The Relationship Between BTC And BGB (Or Seeking An Explanation For BGB's Breakthrough Series) Upon analysing the weekly and monthly performance of BGB, we have come to the conclusion that this token has the ability to withstand market difficulties and leverage any bullish signs to get back in the spotlight. It's time to take a closer look at this phenomenon in an attempt to find the answer. Below is the correlation chart between BTC and BGB. You may ask why Bitcoin and not Ethereum (the mother of all ERC-20 tokens) or any other CEX tokens? At its lowest, Bitcoin dominance was still above 30% or one-third of the entire crypto market; that's not to mention Bitcoin's status as an asset is less often challenged than Ethereum and the gate to Wall Street is finally opened for Bitcoin with the recent spot BTC ETF launch. Source: Bitget Academy, Yahoo Finance The chart only shows the 7D and 90D rolling correlations between BTC and BGB's closing prices since the BGB upgrade (from good ol' BFT) in early 2022 for several reasons: • The issue price of BFT and BGB are different because of the change in plans and benefits for holders; • The BGB-BTC correlations for longer time frames (30D, 60D, and 90D) eventually converge, so we select the 7D and 90D correlation data to showcase the contrast between short-term and mid-term numbers as well as for the sake of visualisation; • Long-term analysis is not available considering the 2022 timestamp. The key point here is: BGB performance in mid-term follows that of BTC, but that's not necessarily the case for its weekly performance. It's important to note that correlation goes up as the examined period gets longer (30D correlation is higher than 7D, 60D is higher than 30D, and 90D is the highest), even though the 30D figure does not show as a clear positive relationship between the two cryptocurrencies as the 60D and 90D charts. The implications of these findings include: (1) It's easy for new BGB investors to rake in some good returns regardless of their entry date as the token is likely to break away from Bitcoin's weekly ups and downs, thus creating numerous decent entry points on a regular basis. At the same time, a bounceback or breakthrough may happen very shortly afterwards, allowing for profit realisation within a short period of time. (2) Holding BGB should be no less rewarding than holding BTC. Need some proofs? Check this BGB price recap: Source: Bitget Academy, Yahoo Finance Despite tough times caused by 2022's black swan events, BGB was still able to make a new all-time high in October, which is almost 2.5 times that year's opening price. 2023 came with the bears hippity hopping around, but BGB made 11 new ATH records that year, with many new ATHs reached overnight. The highest ROI of this token since 2022 stands at 284% when it hit US$0.697451 on December 19, 2023; the yearly return (the year's closing price divided by the year's opening price) of 2023 is 219% compared to BTC's 155% and BNB's modest 27%. Going into the new year 2024, BGB continued to record new all-time highs - it has officially crossed the US$1 mark recently. Do you see that somehow BGB always made its way back into the spotlight on Valentine's Day? Isn't it cool to spread the love for crypto with BGB and witness it turn into a wonderful present, either for yourself or for your beloved, right on the Day of Love? Anyway, the YTD return of BGB leaves Bitcoin and others in the CEX token category way behind, whereas its liquidity is roughly on the same levels as BTC and also outpaces other CEX tokens. Except for HTX, but that doesn't really count due to HTX performance. Source: Bitget Academy, Yahoo Finance Source: Bitget Academy, CoinGecko Logically speaking, higher prices lead to higher demand, and consequently activities in the market (liquidity). We can observe the gradual increase in BGB's average volume as well as in the average volume-to-mcap ratio (a measure of liquidity ) every month. Better liquidity and more activities are signs of a healthier market, where any large order is less likely to affect prices in a significant way. Source: Bitget Academy, CoinGecko On The Sustainability Of BGB Growth: Bitget Is At The Forefront Of Crypto Adoption Bitget celebrated its 5-year anniversary last year with even more devotion to the mainstream adoption of crypto. The core crypto values revolve around the idea of freedom, which should obviously be granted for every single individual. And so Bitget never stops striving for improvement in all aspects to lower the entry barrier for the novice and guarantee the best experience for all crypto users. BGB value is a direct result of Bitget's exponential growth, combined with its well-planned roadmap. Bitget quickly rose to the occasion after the FTX fall, providing a secure platform for spot trading with nearly 700 coins that are constantly monitored and reviewed. Of course, as the leader of crypto copy trading platforms, we also do well in the derivatives category. Clearly, BGB market cap is still not on par with Bitget's competence, hence there's a lot more room for growth. We have talked about the credibility of Bitget before: Crypto’s Epitome Of Credibility: Bitget | Trust Is What Brings People To Bitget . Let's just revisit the topic quickly: Bitget has successfully kept the reserve ratio at much higher levels than the industry's bare minimum of 100%, especially for growing-value assets like Bitcoin and Ethereum. Source: Bitget Academy, CEX's public reserve ratio Don't forget that BGB also contributes to the reliability and performance of Bitget. Source: Bitget Source: Bitget All in all, BGB is designed to maximise success for all parties involved as per our win-win philosophy. There's no reason for you to miss out on this powerful token - the one that has been recognised as the new blue-chip cryptocurrency for its utilities and growth potential. 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.

Which Solana Projects Should You Invest In? New 2024 Guide

Solana prices have been on the rise since SOL breached the US$50 mark on November 11, 2023, with ChatGPT even predicting SOL to reach US$200 this year in the bullish case. One key factor contributing to this optimism is the expansion of the Solana ecosystem, especially with increased use cases of Solana-based tokens. Let's walk through the best Solana projects, why they're worth your time, and why you should grab a bag of those. Infrastructure Bonfida (FIDA) Bonfida provides a wide range of infrastructure services on the Solana blockchain, including tools and services that facilitate the development, operation, and use of decentralized applications (dApps) and DeFi products. These services, which are designed to leverage Solana's high throughput and low transaction costs, make it easier for developers and users to interact with Solana and, therefore, help increase adoption and demand for the entire Solana ecosystem. Bonfida's main components and functionalities are: (1) Decentralised Exchange (DEX): Bonfida acts as a front-end interface for Serum, a DEX built on Solana that allows for trading, liquidity provision, and market analysis; (2) Customised Bots and Automated Strategies: Bonfida's framework for creating and deploying trading bots on the Solana blockchain allows for the execution of automated complex trading strategies on the Serum DEX; (3) Analytics and Data Visualisation: Through its analytics platform, Bonfida provides comprehensive data and insights related to the Solana blockchain and Serum DEX. This includes trading volumes, market trends, and individual asset analytics, all of which are crucial for traders, liquidity providers, and researchers who need to make informed decisions based on market behaviour; (4) API Services: Bonfida offers a set of powerful APIs that developers can use to access Solana and Serum DEX's essential data such as transaction history, order book data, and wallet information in a readily accessible format, thereby lowering the barrier to entry for developers looking to build on Solana and contributes to the ecosystem's growth; (5) Bonfida Name Service (BNS): The Bonfida Name Service allows users to register human-readable names for their Solana wallet addresses, similar to how domain names work on the internet, which simplifies the process of sending and receiving tokens on the Solana blockchain, and thus enhancing user experience and reducing the likelihood of errors in transactions. Demand for FIDA mainly comes from utilities and incentives when using Bonfida services, but long-term holders see Bonfida's high degree of innovation, particularly in areas like analytics and decentralised name services, as the main driver of FIDA value. FIDA is available on Bitget Spot Trading here: FIDA/USDT Helium (HNT) Helium, the OG decentralised blockchain-powered network for Internet of Things (IoT) devices, successfully migrated to Solana in April 2023 to leverage Solana's high throughput and low transaction costs for scalability. Helium's core mission remains to provide decentralised wireless infrastructure for IoT devices with: (1) Hotspots: Individuals and companies deploy Hotspots, which are a combination of a wireless gateway and a blockchain mining device. These Hotspots provide network coverage for IoT devices; (2) Proof-of-Coverage: Hotspots are rewarded with HNT for validating wireless coverage and transmitting device data. This consensus mechanism ensures the integrity and availability of the network; (3) Decentralised Network: The Helium network is decentralised and operates independently of traditional internet service providers, with Hotspots owned and operated by individuals and businesses across the globe. The migration to Solana is expected to improve the performance of the Helium network as well. The expansion of the Helium network, in terms of coverage and the number of IoT devices served, when combined with better performance thanks to Solana, will definitely boost demand for HNT tokens. HNT is available on Bitget Spot Trading here: HNT/USDT Jito Labs (JITO) Jito Labs' main goals are to optimise Solana's performance and enhance its DeFi ecosystem's efficiency via the development of advanced order matching engines and liquidity solutions tailored for Solana's architecture, which is already known for its high throughput and low transaction costs. Jito Labs also contributes to the overall scalability of the Solana network. As transaction processing and order matching are optimised, DeFi platforms on Solana can easily and efficiently scale to meet the demands of a growing user base. Moreover, Jito Labs is committed to developing services that not only complement existing DeFi protocols and platforms but also work towards innovative solutions that address key challenges in blockchain scalability and DeFi efficiency. As Jito Labs sets the groundwork for an improved, sound DeFi sector on Solana, it's become an integral part of the ecosystem, which actually means a close relationship between SOL and JITO. When SOL prices soar, it's expected that JITO will follow! JITO is available on Bitget Spot Trading here: JITO/USDT DeFi Raydium (RAY) Raydium (RAY) is a prominent decentralised finance (DeFi) platform on the Solana blockchain, known for its automated market maker (AMM) protocol. It's designed to seamlessly take advantage of Solana's high-speed and low-cost transactions, making it a key player in the ecosystem's DeFi space. Raydium's main DeFi services include: (1) Automated Market Maker (AMM): Raydium functions as an AMM. AMMs enable users to trade digital assets without a traditional match between buyers and sellers thanks to liquidity pools, where users can deposit their assets to provide liquidity, facilitating trades against these pools; (2) Liquidity Pools and Yield Farming: Users can supply their tokens to liquidity pools on Raydium, receiving liquidity provider (LP) tokens in return. These LP tokens can then be staked in farming pools to earn additional rewards, often in RAY tokens. This incentivises users to add liquidity to the platform, ensuring there's always a pool available for executing trades; (3) Integration with the Serum DEX: Raydium leverages Serum's central order book, which allows it to provide liquidity not just within its own AMM pools but across the entire Serum ecosystem. This unique feature enables more efficient trading and helps consolidate liquidity on Solana, reducing slippage and improving trade execution; (4) Staking: Apart from liquidity mining, Raydium offers staking opportunities where RAY token holders can stake their tokens directly on the platform to earn rewards. This helps secure the network and contributes to the platform's governance; (5) Launchpad: Raydium features an AcceleRaytor, which is a launchpad for new projects looking to debut on Solana. It provides a platform for these projects to raise capital and distribute their tokens, fostering growth and innovation within the Solana ecosystem. Raydium's integration with Serum and its position as a leading AMM on Solana make RAY one of the highest-mcap tokens on Solana. Holding RAY also means unlimited earning opportunities, either via staking or gaining access to exclusive token offerings on AcceleRaytor. Trade RAY today on Bitget Spot Trading: RAY/USDT Saros Finance (SAROS) Saros Finance is a newer player in the Solana's DeFi space, known for its comprehensive suite of DeFi services ranging from AMMs and swaps, liquidity pools, to yield farming and staking: (1) Automated Market Makers (AMMs) and swaps: Similar to Raydium, Saros Finance functions as an AMM that allows users to trade digital assets without the need for traditional order books. SarosSwap, a part of Saros Finance's AMM services, enables users to swap tokens efficiently on Solana, taking advantage of the blockchain's low fees and high transaction speeds. Users can also conduct cross-chain swaps with Saros Finance; (2) Liquidity Pools: Users can contribute their assets to liquidity pools on Saros Finance, which in turn facilitate trading on the platform. By providing liquidity, users can earn a share of the trading fees generated by the pool, as well as potential rewards in the platform's native token SAROS; (3) Yield Farming and Staking: Saros Finance offers yield farming opportunities to encourage users to lock in their assets, providing stability and liquidity to the platform while receiving additional rewards at the same time. The growth potential of SAROS is unlimited as Solana once again reclaims its title as the major 'Ethereum killer'. A flourishing ecosystem needs trading and liquidity facilitators, and SAROS, together with the project's unstoppable innovation capabilities, is meant to be on the forefront of Solana's success. Trade SAROS today on Bitget Spot Trading: SAROS/USDT Amulet Protocol (AMU) Amulet Protocol focuses on risk management and insurance-like services for smart contract failures, hacks, and other types of operational risks within Solana's DeFi ecosystem in order to enhance the security and trustworthiness of this sector. Amulet Protocol offers products that allow users to purchase coverage for their investments in various DeFi protocols that protect against losses due to smart contract vulnerabilities, exploits, or other unforeseen failures. That, of course, comes with a sophisticated risk assessment process, including automated security audits, historical performance analysis, and other risk evaluation techniques. Users of the Amulet Protocol have the opportunity to stake AMU and receive a portion of the premiums paid by those purchasing the coverage in return, which serves as compensation for the risk of covering potential claims. As the DeFi space continues to expand, the demand for risk management solutions like those offered by Amulet Protocol is most likely to grow. By addressing the critical need for risk management in DeFi, Amulet Protocol could position itself as a leader in this niche and thus adding value for AMU. Trade AMU today on Bitget Spot Trading: AMU/USDT Jupiter (JUP) Project-of-the-month for January 2024 is Jupiter (JUP), which Jupiter aims to offer users optimal swap rates, lower slippage, and more efficient transactions within the Solana ecosystem. Jupiter aggregates liquidity from multiple DEXes on Solana, allowing users to access deeper liquidity pools and better exchange rates than they might find on any single DEX. This aggregation ensures that users can execute large trades with minimal impact on the market price. To achieve that, Jupiter utilises sophisticated algorithms to analyse and select the most efficient trading paths across its aggregated liquidity sources. Whenever a user wants to swap two tokens, Jupiter calculates the best route for the swap, potentially splitting the trade across multiple pools and DEXes to minimise slippage and maximise value. Jupiter's ongoing development and potential future features, such as more advanced trading algorithms and additional integrations with other DeFi projects, should further enhance its utility and, by extension, the demand for the JUP token. Trade JUP today on Bitget Spot Trading: JUP/USDT NFTs SOLS (SOLS) Inspired by Bitcoin ordinals, a collaborative effort of independent contributors and teams within the Solana ecosystem named LibrePlex has created a fee-free metadata ecosystem for life within Solana's NFT community, hence the inception of SOLS. Everything about SOLS and its role in NFT space as well as the Solana ecosystem is covered here: SOLS Token: Pioneering a New Era of Solana Find SOLS on Bitget Spot Trading: SOLS/USDT Memecoins Crypto will never be completed without the jokes-turned-into-serious-businesses a.k.a. memecoins, and obviously Solana memecoins are rising in popularity as the spotlight once again shines on this blockchain. The best memecoins for grab are available on Bitget here: ANALOS | BONK | SILLY | SAMO, and the corresponding intros: ANALOS: The Ultimate Memecoin on Solana Bonk: The Dog-Themed Meme Coin Making Waves in the Crypto World The Rise of Silly Dragon (SILLY): A Meme Coin Saga New Dog on the Block: About Samoyedcoin (SAMO) and Memes Airdrops and Early-Bird Earning Opportunities Airdrops (translation: get free tokens by completing given tasks) and earning opportunities are the best ways to acquire next-gen blue-chip tokens with minimum costs. The next big airdrops for Solana eco advocates include: 1. MarginFi: MarginFi provides over-collateralised borrowing and lending markets on Solana with advanced risk management tools as cherry on top. With nearly US$430 million in TVL, MarginFi is a must-watch project on Solana this year, and there's no reason to miss the MarginFi airdrop! To get free MarginFi tokens, go to the MarginFi website, connect your Solana wallet and use any of their services to collect points. Referring users also brings in more points, but you have to have some points first before you can generate a referral link! They have yet to confirm the airdrop, but the earlier you join, the more points to be collected and higher chances to receive free tokens. Follow MarginFi on social media to be the first one to know about the airdrop: X | Discord 2. Kamino Finance: Kamino Finance is a DeFi platform on Solana that focuses on optimising yields for users through automated concentrated liquidity management. It utilises quantitative models to set and rebalance liquidity ranges while auto-compounding fees and rewards for users. Similar to MarginFi, there's no official plan for Kamino Finance yet, but points will also be collected for those who actively use their services. Check out Kamino Finance's official channels here: Website | X | Discord | Telegram 3. Parcl: Parcl creates P2P markets for trading real estate markets globally using city indexes to represent the aggregate value of real estate in specific cities and allow users to speculate on the price movements of these markets. Users can autonomously trade the index price, which reflects the median price per square foot or meter, with their non-custodial wallets. Parcl has a point system that grants points for liquidity providers and traders. Any successful referral (referrers have successfully collected some points) will result in point boost for the referrers, meaning that 10% of what their friends have made will automatically be added to the referrers' total points. Subscribe to Parcl's channels to get early notifications on their airdrop: Website | X | Discord Want some guaranteed earning opportunities for Solana-based tokens? Two days left to farm SAROS on Bitget Launchpool here - hurry up!

Understanding Crypto Market Cap: A Comprehensive Guide for Smart Crypto Investing

In the dynamic landscape of cryptocurrency trading, mastering the concept of market capitalization is vital for investors and enthusiasts alike. Market cap, a cornerstone metric in cryptocurrency analysis, provides a clear picture of a digital currency's market value and stability. This guide delves into the essentials of crypto market cap, demonstrating its significance in shaping smart investment strategies. What Is Crypto Market Cap? Market capitalization, often simply called 'market cap,' is a key metric in the cryptocurrency world, reflecting the total value of a digital currency in circulation. It's calculated by multiplying the current price of a single coin by the total number of coins that have been mined and are currently in circulation. For example, if a cryptocurrency has 1 million coins in circulation and each coin is priced at $10, its market cap would be $10 million. This figure is crucial as it provides a quick snapshot of the cryptocurrency's relative size and market position compared to others. Why is crypto market cap important, you may ask? The significance of market cap extends beyond just a simple valuation metric. It offers a more comprehensive view of a cryptocurrency's worth than its price alone. Generally, a higher market cap suggests a more stable and established cryptocurrency, less susceptible to market volatility. On the other hand, cryptocurrencies with smaller market caps often face higher volatility and can see rapid changes in value. Therefore, market cap is an indispensable tool for investors and analysts, aiding in the assessment of the risk and potential stability of various cryptocurrencies and guiding informed investment decisions. Crypto Market Cap Categories Cryptocurrencies are categorized based on their market cap, providing insights into their risk and growth profiles: Large-Cap Cryptocurrencies: With market caps over $10 billion, these are akin to traditional market's blue-chip stocks, like Bitcoin and Ethereum. They offer stability but may have limited growth potential. Mid-Cap Cryptocurrencies: These have market caps between $1 billion and $10 billion. They strike a balance between growth potential and the risks inherent in less established cryptocurrencies. Small-Cap Cryptocurrencies: Market caps below $1 billion, these are comparable to penny stocks. They offer high growth potential but come with significant risks, including market volatility and possible investment loss. Calculating Market Cap in Crypto: A Step-by-Step Guide The formula for market cap is straightforward: Market Cap = Current Price × Circulating Supply. The current price is typically derived from the average price at which the cryptocurrency is traded on various exchanges. This price can fluctuate frequently due to market dynamics, such as supply and demand, investor sentiment, and broader economic factors. The circulating supply refers to the number of coins or tokens that are publicly available and traded on the market. It's important to note that this excludes coins that are locked, reserved, or not yet released into the market. The circulating supply is a critical factor in this calculation and can be more complex than it appears. For some cryptocurrencies, like Bitcoin, the circulating supply increases over time as more coins are mined, but there's a maximum cap on the total number that can ever exist. For others, the total supply might already be in circulation, or there could be mechanisms such as token burning, which permanently removes a portion of the supply from circulation, thus affecting the market cap. Additionally, some projects have a significant portion of their total supply locked for various reasons, such as coins reserved for future development, which can also impact the circulating supply and, consequently, the market cap. Total Market Cap: Understanding the Big Picture in Crypto What does the total market capitalization tell us about the cryptocurrency market? Total market cap refers to the combined market value of all cryptocurrencies in existence. This aggregate metric is significant as it provides a bird's-eye view of the overall health and size of the cryptocurrency market. By tracking the total market cap over time, investors and analysts can gauge the market's growth, trends, and overall sentiment. When the total market cap is on an upward trajectory, it typically signifies a growing interest and investment in cryptocurrencies, suggesting a bullish market sentiment. Conversely, a decline in the total market cap can indicate a reduction in investment or a bearish market trend. The total market cap also sheds light on the dominance and impact of major cryptocurrencies like Bitcoin and Ethereum. A significant increase in their market caps often leads to a surge in the total market cap, underscoring their pivotal role in the crypto market. However, the growth of the total market cap isn't solely dependent on these giants. It's also influenced by the rise of new and innovative cryptocurrencies, as well as emerging sectors like Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs). This broader view is essential for understanding the dynamics of the market, revealing whether growth is concentrated among a few top players or spread across a diverse range of projects. Such insights are invaluable for investors aiming to make well-informed decisions, as they highlight the distribution of capital and risk within the broader crypto ecosystem. For those passionate about expanding their knowledge of cryptocurrency trading and investing, Bitget Academy serves as a vital learning resource. With courses ranging from technical analysis to risk management, Bitget Academy equips learners with the necessary skills and knowledge to navigate the crypto market successfully. Begin your crypto journey by visiting Bitget Academy's website today! 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.

Bitget Hot Takes (January 15 - January 21, 2024) - All About Bitget

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, which sums up BGB performance, what's new at Bitget, and the latest market movements. The latest Bitget Hot Takes can be found here. Central Themes • BGB is up by 0.6%, while volume is down by 0.7%. • BTC dropped to hit a weekly low of US$40,297. • Bitget Markets: average crypto OI is up by 9.2%, Bitcoin OI by 4.2%, spot volume down by 30.9%. BGB Was Slightly Up After BGB closed week 2 of 2024 at US$0.59, it returned to US$0.62 around mid-week last week before receding back to the tight range between US$0.59 and US$0.60 again. That means BGB trading range has declined by 35.5% and BGB is re-testing US$0.59 as the new support level. The more tests there are, the less likely BGB prices will fall below this level, i.e. confirmation of minimum value. With BGB testing and re-testing the new support level, it seems that investors are also holding their bags really tight, not out of fear but for the sake of 'winning' - after an incredible 2023, we have to agree that BGB is the next blue-chip token as well as the exchange token with the highest potential out there. Even though no sell-off is detected, the level of engagement in spot markets for BGB is still good, around the same as that of BNB. Let's take this as a cue of confidence from the market: Bitget has quickly and sustainably risen in terms of size, scope, and reputation since the start of the bear market. The Latest Bitget News First and Foremost: Bitget Card IS OUT! Bitget has simplified crypto on-ramp for even the noobest of noobs (at zero cost on selected days even), and now it's time to conquer the real world with Bitget Card - a credit card provided by Visa and Bitget! You only need to have some crypto in your Bitget account to enjoy instant ultra-high USD spending limits no matter where you are! Besides, BGB cashback is soon to be added for Bitget Card holders - be the first to get a Bitget Card and earn more on your spending! Bitget Card Introduction is available here, together with our tutorial on how to apply for your Bitget Card. Want to learn more about BGB? Check out our BGB White Paper and BGB Intro. Another big drop on Bitget is the launch of Bitget Spot P2P Market, where anyone can get their hands on all BRC-20 and SPL-20 tokens there are - at minimum costs. Instead of bridging to Ethereum at crazy fees, dealing with high slippage and low liquidity on DEXs or waiting for exchanges to list the trendy ones, you can DYOR and head to our OTC-like spot market to purchase your BRC-20 and SPL-20 tokens directly from other peers. Again, we recommend you to do a proper fundamental analysis and refrain yourself from FOMO buying at any time! Bitget futures markets continued to take the lead with an increase in the average number of outstanding contracts: crypto OI up by 9.2% and Bitcoin OI up by 4.2%, which is a direct result of the fading hype around spot Bitcoin ETFs and change of focus onto the latest Ethereum upgrade. A time of more speculation means more volatility, hence spot traders must have taken a more cautious approach a.k.a. waiting for clearer trends and news. Correspondingly, Bitget spot volume in the last 7 days experienced a decrease of more than 30%. Top daily gainers of the week on Bitget include MANTA/USDT , OORT/USDT , PKEY/USDT , WAGMIGAMES/USDT , AVAV/USDT , IOST/USDT , UPC/USDT , and PONKE/USDT , with the three Bitget Initial Listings achieving the highest 24-hour gains. It's always important to make sure you do not miss first-mover advantages for any poised-for-success tokens, therefore we provide the most comprehensible token intros in a timely manner as follows: Manta Network (MANTA): Building Web3 with A Dual Blockchain Approach Avascriptions (AVAV): Powering the ASC-20 Ecosystem UPCX (UPC): Building the Financial Ecosystem of Tomorrow with Scalability and Security Pocket Network (POKT): Unleashing the Power of DePIN Islamic Coin (ISLM): Decentralizing Finance with Ethics and Innovation New users are so very welcome to invest wisely in crypto by minimising costs. Time the market and make 0-fee crypto purchases on Wednesday and the weekend as Credit/Debit card owners! It's not just limited to newbies, experts can deliberately join, too! Don't forget to check out the great Bitget Reward Center for 5,027 USDT in welcome bonus and take our limited-time offer for 50% rebate on crypto purchases. Hurry up, 1,200,000 USDT in rewards is being distributed on a first-come, first-serve basis until JANUARY 31 ONLY! Looking for extra earning options on Bitget? Check this out: • Bitget Savings : New tokens can be added to our savings vaults within days after the listing with up to 100% APR for a limited time! The newly added options are AIMX , ZKF , ELA , OORT , and MANTA with up to 50% APR, DUSD with up to 40% APR and OX , $AI , FNSA , XAI , DOME , POKT , and AVAV with up to 30% APR. Enjoy the Savings Boosts before they are sold out! • Bitget Launchpool : Similar to Bitget Savings, but it’s for BGB owners to put their holdings to work! Exclusive pools for new users as well! • Bitget Snowball and Bitget Smart Trend : New subscription period begins every Monday! • Weekly exclusive earning opportunities: Up to 10% APR on Bitget Wealthy Tuesday All Bitget Earn guides are available here: Bitget Range Sniper | Bitget Shark Fin | Bitget Dual Investment | Bitget Smart Trend | Bitget Snowball | Bitget Wealth Management New Events 2-week offer: Zero fees on credit/debit card crypto purchases Extended! Institutional accounts only: deposit EUR for a free 30-day VIP pass! Bitget Trading Showdown: Trade Big, Win Bigger – Share 10,000 USDT Deposit to List: MeconCash (MCH) - Deposit and Share 588,235 MCH Rewards! Deposit to List: ArchLoot (ALT) - Deposit and Share 36,630 ALT Rewards! Trade and make net deposits in CandyBomb to earn PONKE Trade and make net deposits in CandyBomb to earn AVAV LeisureMeta (LM) will be listed on Bitget. Come and grab a share of 1,625,000 LM! Baby Bonk (BABYBONK) will be listed on Bitget. Come and grab a share of 666,000,000,000,000 BABYBONK! Saros (SAROS) will be listed on Bitget. Come and grab a share of $5,000 worth of $SAROS! Manta Network (MANTA) will be listed on Bitget. Come and grab a share of 40,000 BGB 30,000 USDT ! Pocket Network (POKT) will be listed on Bitget. Come and grab a share of 168,000 POKT! WAGMI Games (WAGMIGAMES) will be listed on Bitget. Come and grab a share of 580,000,000 WAGMIGAMES! Islamic Coin (ISLM) will be listed on Bitget. Come and grab a share of 250,000 ISLM! Baby Elon (BABYELON) will be listed on Bitget. Come and grab a share of 525,000,000,000,000 BABYELON! UPCX (UPC) will be listed on Bitget. Come and grab a share of $83,000 worth of UPC! Propbase (PROPS) will be listed on Bitget. Come and grab a share of 1,040,000 PROPS! IOST (IOST) will be listed on Bitget. Come and grab a share of 300,000 IOST! Deposit Trade MANTA, Share $10,000 worth of MANTA Join OORT Net Buy Campaign, share $10,000 worth of OORT! Complete Your First Deposit and Trade with AVAV, Share $10,000 worth of AVAV Good Reads Bitget Card: Unlocking the World of Crypto Bitget Card: An Ultimate Tutorial Trade Any Token, Anywhere: Bitget Spot P2P Market The Resurgence of NFTs: A Glimpse into the Potential Growth of NFT in 2024 All You Need To Know About Ethereum Dencun Upgrade Simply create an account , and start exploring the incredible Bitget-Verse today!

A Week of Highs and Lows: Cathie Wood’s Bullish Crypto Predictions and Binance’s Regulatory Woes

TL;DR: - Cathie Wood complimented Solana and predicted that the BTC price could reach $1 million. - Binance was fined $4.3 Billion by the US Department of Justice. CZ resigned as CEO of Binance and Richard Teng was appointed as the new CEO. - These two recent events brought about opposite sentiments and market movements in the crypto market, underscoring the volatile nature of crypto as well as the needs for caution and vigilance on the part of traders and investors. In the tumultuous seas of the crypto market, two significant events have recently made waves. On one hand, we have Cathie Wood, the CEO of ARK Invest, casting optimistic predictions about Bitcoin and Solana, creating ripples of hope among investors. On the other hand, Binance, the world’s largest cryptocurrency exchange, battled a storm of regulatory challenges, with its CEO, Changpeng Zhao (CZ), stepping down amidst a hefty $4.3 billion fine from the US Department of Justice (DOJ). This article navigates these turbulent waters, exploring how these contrasting currents impact the broader ebb and flow of the crypto industry. The Bullish Tide - Cathie Wood’s Predictions On November 16, 2023, Cathie Wood, the influential founder of ARK Investment Management, made headlines with her optimistic outlook on the cryptocurrency market, particularly praising the Solana network and predicting a substantial surge in Bitcoin's price. Wood's comments had an immediate impact on the market, triggering notable increases in SOL, BTC, and ETH prices. Cathie Wood's Affirmation of Solana's Strength During a televised interview with CNBC, Cathie Wood commended the Solana network for its efficiency and cost-effectiveness, drawing comparisons to Ethereum. Wood highlighted Solana's remarkable speed and affordability, positioning it as a standout player in the blockchain ecosystem. This endorsement led to a significant surge in Solana's price. Following Cathie Wood's praise, Solana experienced an impressive 18% surge in 24 hours and an astonishing 52% surge in one week, reaching $67.69. Analysts attributed this surge to a potential price correction after a prolonged period of undervaluation. Notably, Solana's performance outpaced other blue-chip cryptocurrencies, positioning it as the best-performing in its category. Bitcoin's Million-Dollar Vision In a different interview with Wall Street Journal around the same time, Cathie Wood reiterated her optimistic long-term vision for Bitcoin, forecasting that its price could reach between $1 million and $1.5 million per coin. She said that cases like the collapse of FTX and Celsius only emphasized the fact that centralized organizations with little transparency like those are prone to failure, while truly decentralized platforms like Bitcoin and Ethereum continue to thrive due to their inherent transparency and trustless nature. Following Wood's bold comments, Bitcoin experienced a notable price increase, rising 7.31% to $37,878.95 within a day. Such immediate impact on Bitcoin's price highlighted the influential role that prominent figures, like Cathie Wood, play in shaping market sentiment and driving price movements. Wood's positive sentiments also extended to Ethereum. While not as pronounced as Solana and Bitcoin, Ethereum experienced a modest 5.34% surge in price to $2079.1 within the same timeframe. This response underscored the interconnected nature of the cryptocurrency market, where endorsements and predictions from influential figures can create a ripple effect across various assets. The Choppy Waters - Binance’s Regulatory Issues Last week, the CEO of Ark Invest, shared her positive outlook on the future of cryptocurrencies, emphasizing their potential for growth and mainstream adoption. This week, the landscape has swiftly shifted with the Binance saga, injecting an element of uncertainty into the crypto market. CZ Resigns as CEO of Binance; Binance Fined US$4.3 Billion In a shocking turn of events, Changpeng Zhao, popularly known as CZ, has resigned as the CEO of Binance Holdings Ltd., the world's largest cryptocurrency exchange. This decision comes as part of a sweeping settlement with the US government over allegations of anti-money laundering and US sanctions violations. Binance, a powerhouse in the crypto industry, is set to pay a staggering US$4.3 billion in fines, making this one of the largest corporate agreements in US history. The settlement brings an end to a years-long investigation into Binance's operations in the US, revealing a range of illicit activities. The charges against Binance and CZ include failure to prevent and report suspicious transactions with alleged terrorist organizations. The US government's allegations also encompass operating an unlicensed money transmitting business and violating US sanctions. The settlement's financial repercussions are significant. Binance has agreed to a substantial settlement, which includes a criminal fine of US$1.8 billion and an additional forfeiture of US$2.5 billion. This brings the total amount of fines to US$4.3 billion, the largest amount of corporate settlement ever in US history. CZ, who played a pivotal role in Binance's rise to prominence, will pay a US$50 million fine. Although he faces the possibility of a 10-year prison sentence, a plea deal may see him serving no more than 18 months. The Justice Department is yet to finalize the length of the prison term they will seek for CZ. The settlement also brings forth a change in leadership at Binance, with Richard Teng set to succeed CZ as CEO. Teng, a civil servant-turned-crypto executive, had been appointed as the head of all regional markets outside the US by CZ in late May. Now, he assumes the responsibility of navigating Binance through the aftermath of the legal settlement and restoring confidence among the exchange's 150 million users. Crypto Market Turbulence Following Binance’s Settlement The aftermath of the settlement with the Justice Department on multiple charges led to a cascade of consequences, notably impacting futures traders and triggering over US$200 million in crypto liquidations. Data from CoinGlass revealed that crypto perpetual futures positions worth US$227 million were liquidated within the past 24 hours, with bullish longs accounting for nearly 80% of the total liquidations. Bitcoin, the flagship cryptocurrency, experienced over US$65 million worth of liquidations in the futures markets, marking one of the highest liquidation events in 2023. The impact extended beyond Bitcoin, with traders of ETH futures incurring losses of US$27 million, SOL traders facing US$10 million in liquidations, and BNB, the token created by Binance, seeing comparatively smaller losses at US$6 million. Among all exchanges, traders at Binance faced the most significant liquidations, totaling US$100 million, while OKX, another crypto exchange, took US$62 million in liquidations. The scale and speed of these liquidations underscore the volatility in the market and the immediate repercussions of major events on leveraged positions. The repercussions of Binance's legal troubles extended beyond the futures market, affecting the broader cryptocurrency landscape. The news of CZ's guilty plea and the hefty fine resulted in a market-wide decline. BNB slid by more than 9%, adding to the woes of investors who had initially anticipated a positive resolution to the multiyear investigation. This downturn had a ripple effect across other cryptocurrencies. Bitcoin dipped by 1.53%, hovering around US$36,000 and dropping to US$35,756.55 at one point, while Ether experienced a 2.1% decline, settling around US$1,992.43. Other altcoins were also affected, with XRP falling by 3.2%, SOL dropping more than 4%, while MATIC losing 7.8%. Conclusion The recent turbulence in the cryptocurrency markets, fueled by Binance's legal challenges, CZ's resignation, and the hefty fines imposed on the exchange, underscores the fragility of the crypto landscape. The uncertainty surrounding Binance's future without CZ has added an extra layer of complexity to an already dynamic market. Michael Safai, co-founder and partner at Dexterity Capital, remarked, "It's hard to see Binance losing its dominance, but this will certainly create room for newer players to fill any void." This period of upheaval follows closely on the heels of Cathie Wood's optimistic interviews last week, where her positive sentiments contributed to a surge in crypto prices. The sharp contrast between last week's optimism and the current challenges faced by Binance highlights the volatile nature of the cryptocurrency market. Wood's interviews, coupled with the unfolding events at Binance, emphasize the intricate interplay between influential figures, major exchanges, and the broader market. The recent events highlight the interconnected nature of major cryptocurrency exchanges and their ability to influence the broader market with their legal and regulatory challenges. As the crypto community navigates through these challenging times, traders and investors are advised to exercise caution and stay vigilant. The ongoing legal and regulatory issues faced by major players like Binance underscore the need for a proactive approach to risk management. The market is expected to continue experiencing fluctuations, driven by both internal dynamics and external factors. Though the crypto industry remains resilient no matter what, these recent events serve as a reminder of the importance of diligence and strategic decision-making in a space where rapid developments can significantly influence market trends. 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.