Blockchain
Ravendex Launches Exclusive Rave NFT Collection
Dublin, Ireland–(Newsfile Corp. – January 22, 2022) – Banking on the euphoria of their
Figure 1: Ravendex Launches Exclusive Rave NFT Collection
The team chose Cardano to leverage the ecosystem’s unique Eutxo Model that offers low gas fees to enable users to mint NFTs on the Cardano Blockchain without burning a hole in their pockets, paying just 0.25 cents as a gas fee.
While highlighting the distinction between RAVE NFT and other NFTs, the team revealed that its token offers real utility within the ecosystem as it allows $RAVE NFT holders to stake their NFTs and earn rewards in $RAVE and also other project tokens who partner with Ravendex to distribute their tokens through $RAVE Liquidity mining, a passive earning opportunity exclusively reserved for its NFT holders.
As the NFT minting is currently ongoing, interested investors can seize the opportunity to mint and hold the NFT.
How to Mint $RAVE NFTs
• Purchase ADA from Coinbase, Binance, or Kraken.
• Download a Cardano-compatible wallet such as Daedalus, Yoroi, and Nami Wallet and set it up after downloading.
• Transfer the purchased ADA to the downloaded wallet. Select Cardano Blockchain during the transfer.
• Visit Rave NFT minting portal.
• Click on “Feather Requirements” and send 50 ADA to the displayed address at the start of the minting process.
• Wait for confirmation of the transaction completion on the blockchain.
Once you complete the entire process without hitches and your transaction is confirmed, your pixilated $RAVE NFT will be deposited in your wallet.
Holding the RAVE NFT offers several opportunities that include:
• Staking your NFT and earning $RAVE as a reward.
• Listing and selling your asset on a couple of secondary markets to earn royalties on sales.
• Staking the $RAVE NFT and endorsing a project launch through Ravendex’s IDO.
About Ravendex
Ravendex operates on the Cardano Blockchain as a non-custodial decentralized exchange using the AMM protocol. The protocol comes in handy for the Cardano Ecosystem as it uses it to facilitate asset trading at a price their provided liquidity sets. More so, Ravendex removes the challenges in assets and liquidity transfers between native Cardano tokens and ADA.
The $RAVE utility token, with a Market Capitalisation of over 5 Million Dollars according to Coinmarketcap is tradable on BitMart where users can trade a wide range of commodities such as ETH, BTC, and USDT, among others.
Over $1 million worth of trade volume is recorded daily as the token becomes the favourite of an increasing number of cryptocurrency investors and lovers.
Besides being the utility token that powers the Ravendex ecosystem and can be used for yield farming, staking, governance, and a host of others.
Github: https://github.com/Ravendexlabs
Telegram: https://t.me/RaversNests
Twitter: https://twitter.com/ravendexlabs
Contact Channels:
Company Name: Ravendex Labs
Contact Name: Ravenslabs
Email: [email protected]
Website: https://ravendex.io
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111218
Blockchain
Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI
Leading up to Friday’s Bitcoin (BTC) halving, investors opted to remain on the sidelines rather than increase their exposure to cryptocurrencies. CoinShares’ latest report on digital asset fund flows reveals that crypto funds experienced $206 million in outflows last week, while trading volumes for Exchange-Traded Products (ETPs) dropped to $18 billion.
James Butterfill, head of research at CoinShares, noted, “These volumes represent a lower percentage of total Bitcoin volumes (which continue to rise) at 28%, compared to 55% a month ago.” He attributed this decline in investor appetite to expectations that the Federal Reserve would maintain interest rates at elevated levels for a longer duration.
In terms of regional flows, the United States led the outflows with $244 million exiting incumbent ETFs by the week ending April 19. Butterfill highlighted that newly issued ETFs still received inflows, albeit at lower levels compared to previous weeks. Germany and Sweden saw outflows of $8.3 million and $6.7 million, respectively, while Canada experienced inflows of $29.9 million. Switzerland, Brazil, and Australia also witnessed inflows of $7.8 million, $5.5 million, and $2.2 million, respectively.
Butterfill observed that although Bitcoin saw outflows of $192 million, there were minimal flows into short-Bitcoin positions. Ethereum (ETH) experienced outflows of $34 million for the sixth consecutive week. However, multi-asset funds saw improved sentiment, attracting $8.6 million in inflows. Additionally, Litecoin (LTC) and Chainlink (LINK) received inflows of $3.2 million and $1.7 million, respectively.
The report highlighted that blockchain equities sustained their 11th consecutive week of outflows, totaling $9 million, as investors remained concerned about the halving’s impact on mining companies.
In a separate analysis of the post-halving crypto mining industry, CoinShares analysts suggested that many miners might transition to serving the artificial intelligence (AI) sector, which has become more lucrative. They anticipated a shift towards AI in energy-secure locations, potentially leading to Bitcoin mining operations relocating to stranded energy sites.
The analysts projected a 10% decline in the Bitcoin network’s hash rate after the halving as miners deactivate unprofitable ASICs. However, they expected the hash rate to reach 700 exahash (EH/s) by 2025. As of the current data, the Bitcoin hash rate stands at 596.22 EH/s.
The report also noted that substantial cost increases are anticipated due to the halving, with electricity and production costs nearly doubling. Mitigation strategies include optimizing energy costs, enhancing mining efficiency, and securing favorable hardware procurement terms. Miners are actively managing financial liabilities, with some utilizing excess cash to significantly reduce debt.
Source: kitco.com
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Blockchain
NYSE gauges interest in 24/7 stock trading like crypto
According to reports, the New York Stock Exchange (NYSE) is exploring the possibility of introducing round-the-clock trading, a model akin to that of cryptocurrency markets. In a bid to gauge market sentiment, NYSE’s data analytics team has circulated a survey among market participants. The survey seeks feedback on whether there is support for 24/7 or extended weekday trading hours and, if so, what measures should be implemented to safeguard traders against overnight price fluctuations. As of now, NYSE, alongside Nasdaq and the Chicago Board Options Exchange, operates from Monday to Friday, spanning from 9:30 am to 4:00 pm Eastern Time.
In the United States, assets like cryptocurrencies, United States Treasurys, foreign exchange, and major stock index futures are already tradable 24/7. Certain brokerages, such as Robinhood and Interactive Brokers, provide access to U.S. stocks throughout the week via a “dark pool” trading venue, catering to international retail investors during their local trading hours.
However, recent reports indicated that Robinhood suspended its 24-hour trading services amidst heightened tensions between Israel and Iran, prompting concerns among investors regarding the sustainability of continuous trading.
Effectively managing liquidity in a 24/7 trading environment has proven challenging for trading platforms within the cryptocurrency industry.
According to cryptocurrency research firm Kaiko, there’s often a mismatch between the operating hours of traditional financial institutions and the needs of major crypto traders and market makers. Traders frequently find themselves losing sleep during periods of extreme market volatility.
While the results of NYSE’s survey haven’t been revealed, Tom Hearden, a senior trader at Skylands Capital, conducted his own poll among his 19,300 followers, asking if they would support NYSE transitioning to 24/7 trading hours. Interestingly, over 70% of the 1,459 respondents voted “No.”
NYSE’s survey coincides with the efforts of startup firm 24X National Exchange, which is seeking approval from the Securities and Exchange Commission (SEC) to launch the first exchange in the country operating round-the-clock.
The FT said, citing two persons familiar with the subject, that the SEC has “months” to study the proposed rule change, and other relevant issues, such who should shoulder expenses and the function of clearing houses, are already being considered by other stakeholders.
“How loud they will be playing in the middle of the night is unknown to me. However, the decision of whether something is commercially feasible or not actually shouldn’t be made by the SEC, James Angel, a Georgetown University finance professor, told FT.
“I support letting the market make the decision. We’re all better off if it succeeds, and the exchange’s stockholders lose out if it fails.
After the company withdrew an application in March 2023, alleging operational and technological concerns, it is the second attempt to receive SEC clearance.
Source: cointelegraph.com
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