Blockchain
KuCoin Announces Listing ThunderCore’s Native Token TT
Leading crypto exchange KuCoin has announced that it has listed ThunderCore’s token (TT), the native cryptocurrency that powers the ThunderCore network – a high-performance layer-1 chain and burgeoning Web3 ecosystem.
Since launching in 2017, KuCoin has made inroads into over 200 countries, with over 600 coins available to buy, sell, and trade. The exchange attracts a large cross-section of traffic due to its low fees, wide selection, and interest-earning functions.
ThunderCore is an EVM-compatible public blockchain that seeks to balance speed and scalability with superior security. It was founded in 2017 by Chris Wang, a prominent Silicon Valley tech entrepreneur and former Google and Disney executive. The chain delivers sub-second confirmation times, ultra-low gas fees, and is one of the top 10 most used public blockchains, according to DappRadar.
With its own native wallet, TT Wallet, ThunderCore makes it easy for startups to outsource storage security functions to the blockchain’s core developer team. The company is committed to continually improving the wallet’s UI/UX design, streamlining various “fiat-in” options, and adding new features such as NFT functionality.
ThunderCore’s aggressive expansion in 2022
The ThunderCore blockchain has made enormous strides not only in the development of its ecosystem, which now includes hundreds of projects and has reached over 400K daily active users at times, but also in terms of partnerships, technology, and adoption.
Since late 2021, ThunderCore has aggressively pursued new opportunities and achieved the following milestones:
- In October 2021, ThunderCore initiated the Iris Hard Fork, which boosted its cross-chain capacities due to improvements in EVM compatibility. This helped the chain to become more appealing to projects aiming to scale.
- In November 2021, they launched the $10M Developer Growth Fund, incentivizing a broad array of blockchain projects and developers to build on ThunderCore. Divided into multiple phases, the initiative has seen many companies receive grants, promotions, technical aid, and business consultations for on-chain projects.
- In March 2022, of this year, the team partnered with innovative cross-chain aggregator XY Finance to enhance ThunderCore’s bridging capacities. XY Finance is a crypto exchange aggregator for the metaverse and DeFi.
- In April 2022, the blockchain rebranded to better reflect the company’s identity as an all-encompassing platform aiming to revolutionize Web3 and onboard new users through mobile entertainment, thereby attracting many new partners and developers.
- In July 2022, ThunderCore joined with leading cross-chain routing protocol Multichain to further boost bridging functionalities. Multichain is a dominant player in the cross-chain sector, with a daily volume of over $100 million.
- An eclectic range of entertainment-facing DApps were rolled out throughout 2022, massively expanding the ThunderCore ecosystem, while a huge influx of new users helped the chain to gain sizable traction and network effect in dynamic new industry sectors. These include the NFT platform OurSong, VR SocialFi platform MomentX, GameFi offering Galaxy Blocks, and NFT/e-commerce pioneer RE:DREAMER.
ThunderCore Outlook
Given the proven background and deep expertise of its founder Chris Wang in the videogame industry (Chris previously sold his social gaming company Playdom to Disney for around $750 million), it’s no surprise that ThunderCore views entertainment as the secret gateway to onboard the next 1 billion users to Web3. The company has sought to attract legions of fun DApps, whether they be related to NFTs, GameFi, or the metaverse, by offering strong funding incentives and continually rolling out new features and partnership.
For the remainder of 2022, ThunderCore predicts there will be more projects onboarded through ThunderGene. This is likely to boost the daily active user totals over the half-a-million mark, according to the company.
ThunderGene tool to simplify Web2 to Web3 migration
Currently, the company is in the process of launching its newest product, the ThunderGene API tool. Made for its growing developer community, the team at ThunderCore makes it extraordinarily easy for Web2 programmers to make the jump to Web3. The API tool streamlines the process of creating coins and NFTs on ThunderCore as well as integrating DApps directly into TT Wallet.
With a long slate of projects set to take off in the fall and winter, ThunderCore expects the utility of TT is only at the beginning of its growth cycle.
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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