Blockchain
Calvin Ayre and Bitcoin SV Groups Back Institutional Exchange, DRIVE Markets
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DRIVE Markets ($DRV), the institutional crypto and fiat exchange, announced an investment from entrepreneur Calvin Ayre, founder of Ayre Group and CoinGeek. In a bid to entice traders from the $5 trillion forex market, DRIVE Markets has teamed up with forex giants including First Derivatives and MetaTrader to offer a crypto trading experience synonymous with forex trading.
Ayre is a key backer of BSV, through his CoinGeek mining, media and investment operations, and expects the undisclosed investment which is in the multiple seven figures, to provide a significant boost to BSV enterprise usage and transaction volume.
DRIVE Markets recently announced DRIVE Pay, a multi-protocol, real-time remittance and gross settlement network for crypto and fiat currencies. DRIVE Pay will use the BSV blockchain as the anchoring ledger for its payments network and will use BSV coins as a bridge or intermediary currency to enable liquidity.
“At DRIVE, our roadmap leverages the infrastructure and capabilities of our institutional exchange and we were looking for the right solution partner that could scale DRIVE Pay to become a global leader in the multi-trillion dollar payment and settlement space. Bitcoin SV, as a commodity data ledger, makes it the ideal blockchain to anchor DRIVE Pay and the BSV team possess a level of expertise and commitment to enterprise development that really impressed us,” said Kate Hiscox, CEO at DRIVE Markets.
Bitcoin SV emerged from the world’s first Bitcoin “hash war” last November. Named for the “Satoshi Vision” of Bitcoin’s creator Satoshi Nakamoto, Bitcoin SV restores the original Bitcoin protocol, keeps it stable, and allows it to massively scale.
BSV has the scaling plan necessary to support a global payment network like DRIVE Pay and other enterprise uses. Just recently, BSV’s blockchain witnessed not one, but two, 128MB record-setting blocks – the world’s largest ever on a public blockchain. (For comparison, Bitcoin Core [BTC] has a small 1MB block cap). With 128MB blocks, BSV can handle 800+ transactions per second and proves that massive on-chain scaling works on Bitcoin. Furthermore, Bitcoin SV is preparing for gigabyte (1000 MB) and eventually terabyte (1 million MB) blocks to process billions of transactions per second and become the global data ledger for business.
CoinGeek founder Calvin Ayre commented: “I like entrepreneurs who can cut through the noise and focus on technology that works. That’s why I like DRIVE. DRIVE recognizes the original Bitcoin vision, now back in the form of Bitcoin SV, works at a massive scale. I look forward to seeing the DRIVE Pay network process huge amounts of transactions on the BSV blockchain, and further unleash the true power of Bitcoin.”
DRIVE Markets’ CEO Kate Hiscox will attend and speak at the upcoming CoinGeek Toronto conference, May 29-30 at the Carlu in Toronto. The conference focuses on Bitcoin scaling, with “No Limits”, and will feature the world leaders in blockchain scaling. At the event, Hiscox will discuss plans for DRIVE Pay and her company’s decision to build the payment network upon BSV.
Ayre’s investment is part of a broader collaboration between DRIVE and the Bitcoin SV ecosystem. nChain, the global leader in advisory, research, and development of blockchain technologies, will support DRIVE Pay with its technical consulting services and access to its vast intellectual property portfolio. Along with Ayre’s CoinGeek operations, nChain is another key backer of Bitcoin SV.
Jimmy Nguyen, Founding President of the Bitcoin Association (which advances Bitcoin SV’s global business ecosystem) and Chair of nChain’s Strategic Advisory Board, remarked:
“With DRIVE, the Bitcoin SV ecosystem gets bigger and gets down to some really big business. From our discussions, it is clear DRIVE Markets sees BSV’s technical value as an enterprise ledger and business value as a regulation-friendly environment. We invite more companies around the world to study BSV’s technology capability and build on the only massively scalable blockchain – Bitcoin SV.”
SOURCE DRIVE Markets
Blockchain
$FAR Token ranks first on Bybit exchange and soars to 44%following staking program launch: Coingecko
Farcana — United Arab Emirates based Bitcoin shooter game, has announced that its $FAR token is now ranked first on Bybit exchange. This development comes after the launch of its staking program, which offers users a 60% annual percentage rate (APR) on their $FAR tokens.
The staking program requires users to utilize the Polygon network for staking their announcement. Following the announcement, $FAR token soared to 44% according to Coingecko.
Founded in 2022, Farcana recently raised $10 million in seed funding from Animoca Brands, Polygon Ventures, Fenbushi Capital, and Merit Circle among others. It is built on Unreal Engine 5 and Farcana shares a similar graphical style with Overwatch, a team-based multiplayer first-person shooter game by Blizzard Entertainment. The game is understood to operate under a free-to-play model.
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A new Ethereum meme coin, Pochita ($POCHITA), has made headlines after skyrocketing in value shortly after its launch. According to on-chain data, one trader turned an initial investment of $3,000 into $150,000 in under three hours, reflecting a near-5000% profit. This rapid surge has drawn comparisons to other meme coins like Bonk ($BONK), which gained significant attention in the Solana ecosystem.
Pochita launched on October 2, 2024, quickly reaching a $20 million market cap within 9 hours, despite the broader crypto market contracting by 2.9% over the past 24 hours. The meme coin sector also dipped 3.2%, now valued at $47.5 billion. Despite the falling prices, Pochita’s rapid rise suggests strong investor sentiment around meme coins remains, especially following recent Federal Reserve interest rate cuts.
Though meme coins are known for their volatility and lack of clear fundamentals, they can provide quick gains for traders. Pochita is being discussed as a potential successor to Bonk, and if it continues its growth, it could join the ranks of other top meme coins like Dogecoin, Shiba Inu, and Pepe Coin.
At the same time, other projects such as Crypto All-Stars ($STARS) are providing new avenues for meme coin holders by offering a unified staking platform where users can stake various meme coins and earn rewards. Crypto All-Stars has already raised over $1.9 million in its presale, indicating strong interest in platforms that provide utility and passive income opportunities for meme coin enthusiasts.
Source: cryptonews.com
The post Mysterious Trader Makes $150,000 Profit in 3 Hours From Just $2,956: Blockchain Analysis appeared first on HIPTHER Alerts.
A recent Binance report highlights critical risks in the cryptocurrency market, warning of the dangers posed by inflated valuations and centralized token ownership. The report cautions that if these issues remain unaddressed, they could destabilize the long-term stability and growth of the crypto industry.
Valuation Concerns: The report emphasizes that overvaluation, particularly in newly launched tokens with low circulating supply, could lead to market bubbles and poor performance. Venture capital funds, which once aggressively invested in crypto, are now scaling back and shifting focus to sectors with more sustainable valuations. As the market becomes saturated with new tokens, the circulating supply could increase exponentially, further straining performance.
Centralization of Token Ownership: Binance also flags the risks of centralization, where large tokenholders dominate ownership. This concentration of power can result in governance issues, market manipulation, and potential crashes caused by sudden sell-offs. The report stresses the need for decentralized control and broad participation to maintain the integrity and resilience of crypto projects.
Transparency and Trust: To mitigate these risks, the report underscores the importance of transparency in fund management. A lack of clear disclosures can erode stakeholder trust and harm project sustainability. Binance notes that greater transparency, like the adoption of proof-of-reserves by platforms such as Coinbase, is crucial for fostering responsible financial management and building long-term trust in the market.
In conclusion, the report urges the crypto industry to prioritize decentralized governance and transparency to ensure sustainable growth and maintain market confidence.
Source: cointelegraph.com
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