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Home > News
Published: 15/03/2024
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Author: Kane
Successful Fundraising of $69 Million USD by Berachain
Berachain is a successful Layer-1 project that has raised $69 million USD in funding and is currently in the development phase with a focus on DeFi applications.
Azcnews Breaking
The Layer-1 blockchain Berachain has successfully conducted a fundraising round worth $69 million USD, bringing the total valuation of this Layer-1 blockchain platform to $1.5 billion USD with significant participation from investment funds such as Brevan Howard Digital and Framework Ventures.
Previously, this Layer-1 project had successfully raised $42 million USD, leading to a valuation of $420 million USD – a significant milestone for a project that started with developing an NFT platform.
Currently, Berachain is deploying its testnet, which began in January 2024. This testnet deployment aims to open up for community testing after completing a closed testnet round for DeFi projects one month prior.
Related: Guide to Participating in the BeraChain Testnet Airdrop
Introduction to Berachain
Interface Berachain
Berachain, a Layer 1 blockchain built on Cosmos SDK and compatible with EVM (Ethereum Virtual Machine), has focused on DeFi and promises to be a high-performance smart contract platform, scalable and compatible with EVM, as well as interoperable with other chains.
Berachain has announced a development direction focused on building a platform to serve the development of decentralized finance (DeFi) solutions in the future, with existing compatibility with the Ethereum Virtual Machine (EVM). This project is developed on the Cosmos platform, using the Proof-of-Liquidity consensus mechanism to balance staking incentives and liquidity provision on the network.
Berachain also has three types of tokens, including BERA (fee token), BGT (staking and governance reward token), and HONEY (stablecoin). Users will receive BGT after providing liquidity for projects on Berachain, a non-tradable token. They can then burn BGT to receive BERA or delegate BGT to the network’s validators to receive HONEY.
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Will Arbitrum Price Decrease After Major Token Unlock?
An algorithmic trading firm acquired a substantial 17.08 million ARB tokens, with market sentiment suggesting that the token unlock may not lead to a significant price downturn.
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Published: 15/03/2024
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Author: Leexim
Will Arbitrum Price Decrease After Major Token Unlock?
An algorithmic trading firm acquired a substantial 17.08 million ARB tokens, with market sentiment suggesting that the token unlock may not lead to a significant price downturn.
Azcnews (3)
Table of Contents
Wintermute Trading, a marketplace broker, just added the Arbitrum [ARB] token to the list with a value of $36.3 million, ahead of its scheduled unlock on March 16.
Information from Spot On Chain has shown that this is not the first time the market has bought this code. Currently, Wintermute Trading holds a total of 29.48 million ARB.
Token unlocking involves putting previously locked tokens into circulation, resulting in an increase in supply. However, if demand is not enough to satisfy the new supply, the price of this cryptocurrency may decline.
A post explaining how a market maker bought many Arbitrum (ARB) tokens
Source: X
Arbitrum Token Unlocking Program
The Arbitrum token unlocking program is considered one of the most important events of the year. The Ethereum [ETH] Layer 2 project is expected to issue 1.45 billion tokens on that date, representing 15.7% of total supply and valued at $2.93 billion.
At the time of writing, ARB’s price is $2.01, down 6.50% in the last 24 hours. Despite the recent withdrawal, views on the project have changed. The sentiment around ARB has turned from negative to positive, as shown by tracking comments on the Arbitrum project. Therefore, the discussion about ARB on information platforms is becoming optimistic.
Therefore, traders can place a high degree of confidence in long positions. Additionally, the significant change in the number of ARB holders is also an important factor.
Chart showing an increase in the number of Arbitrum (ARB) holders as token unlock nears
Source: Santiment
Maybe just the beginning?
Three months ago, the number of ARB holders was 985,000, but as of now, this number has increased to 1.17 million. Such a sudden increase shows that buyers are confident in the long-term potential of this token.
Taking into account the social side of the market, online data shows that Arbitrum’s dominance is growing. Compared to other assets on the market, the increase in social dominance indicates that discussions about this project are increasing.
Arbitrum's increasing social dominance and falling active addresses
Source: Santiment
While a rapid increase in social dominance can lead to a temporary peak, this is not the case for Arbitrum because it does not exceed normal levels. Therefore, the token has the potential when unlocked to increase in price.
Related: Arbitrum to Unlock Large Amount of Tokens Soon
Meanwhile, the number of active addresses on the network has dropped to 24,900. The decrease in the number of active addresses means that speculation around ARB has also decreased. If speculative activity decreases, then opportunities to sell will also decrease.
However, this does not mean that the price of ARB cannot drop below $2 when unlocked. While possible, the data suggests a recovery could occur once supply increases.
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Published: 15/03/2024
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Author: Kane
Avalanche Foundation Announces Holdings of 5 Memecoins
After announcing their investment in memecoins, the Avalanche Foundation recently disclosed a list of 5 memecoins they are holding in their investment portfolio.
Azcnews Breaking
The Avalanche Foundation, the developer of the Avalanche blockchain, has revealed that they own 5 memecoins. These include Coq Inu (COQ), Gecko Inu (GEC), Kimbo (KIMBO), AVAX HAS NO CHILL (NOCHILL), and Tech (TECH).
Community coins have become a cornerstone of Web3, representing the spirit, uniqueness, and interests of diverse crypto communities.
Today, the Avalanche Foundation announces its first five community coin holdings:$COQ, $KIMBO, $TECH, $GEC and $NOCHILL https://t.co/3kcz1EGhqn
— AvalancheFDN (@AvalancheFDN) March 14, 2024
The investment in memecoins was drawn from the 100 million USD Culture Catalyst fund announced by Avalanche in March 2022 to promote web3 in the ecosystem.
However, these memecoins have not shown significant reactions following Avalanche’s announcement. In the past 24 hours, their fluctuations have been as follows: COQ (-16%), TECH (-27%), KIMBO (+7%), NOCHILL (+2%), and GEC (+64%).
The Avalanche Foundation announced its memecoin investment plan last year after recognizing the importance of this segment. The condition for gaining the fund’s attention is that the coins must have high community value.
The investment appetite shared by the fund is:
Each community coin held by the fund must adhere to the conditions set by the fund. They often bring value to Avalanche and the web3 space in general.
In addition to memecoins, the Avalanche Foundation is also considering adding other ERC-404 tokens to expand its investment portfolio and may adjust its criteria in the future.
Memecoins have been one of the main segments contributing to the recent prominent market development. Some of the hottest names include Pepe, Dogecoin, Floki, Wif, and Bonk.
Furthermore, the Avalanche Foundation is also considering adding other ERC-404 tokens to its investment portfolio and may adjust its criteria in the future.
Related: Avalanche Announces Development of Vryx Solution
Chart of AVAX after the announcement by the Avalanche Foundation
Chart Avalanche
AVAX/USDT chart on Tradingview at 7:10 AM on March 15, 2024
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#Avalanche
#AVAX
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