Author: CryptoCurrencyNews

In recent trading sessions, various crypto stocks have shown signs of recovery as Bitcoin manages to trim some of its earlier losses. This follows a tumultuous period where the leading cryptocurrency had seen significant declines in value.

Key players in the crypto industry, such as Marathon Digital Holdings (NASDAQ:MARA) and Riot Blockchain (NASDAQ:RIOT), have experienced notable rebounds. These companies, heavily invested in Bitcoin mining, are often seen as barometers for the sector’s health.

Marathon Digital Holdings reported a surge in its stock price, echoing the partial recovery seen in Bitcoin. Analysts suggest that renewed interest in the digital asset space and strategic moves by these companies to optimize their mining operations could be contributing factors.

Similarly, Riot Blockchain has also seen its stock price climb. The company has been making strides in expanding its mining capacity, which might be paying off as the market starts to stabilize.

It’s not just the miners that are benefiting. Coinbase Global, Inc. (NASDAQ:COIN), a major cryptocurrency exchange, has also seen an uptick in its stock price. This could be attributed to the increased trading volumes on its platform as investors take advantage of the lower prices to buy into the market.

However, despite the positive momentum, experts warn that the volatility in the crypto market is far from over. Factors such as regulatory developments, technological advancements, and macroeconomic trends continue to play significant roles in the overall market dynamics.

In addition, companies like MicroStrategy (NASDAQ:MSTR), which has substantial Bitcoin holdings, are also feeling the effects of the crypto market’s movements. The enterprise analytics firm’s stock has mirrored Bitcoin’s price trends, underscoring the interconnectedness of their value propositions.

Looking ahead, industry watchers will be keeping a close eye on upcoming regulatory announcements and market trends that could influence the crypto landscape. The resilience of crypto stocks in the face of Bitcoin’s fluctuations will be a critical indicator of the sector’s long-term viability.

Investors are advised to stay informed and consider the inherent risks associated with the volatile nature of cryptocurrencies and related stocks. Diversification and a clear understanding of market dynamics remain essential components of a robust investment strategy.

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SINGAPORE, Sept. 11, 2024 /PRNewswire/ — Zilliqa, the established layer-1 blockchain platform that pioneered sharding technology, is excited to announce the launch of the Jasper proto-testnet for Zilliqa 2.0, the first release on its roadmap for its new, upgraded network designed to drive mass adoption of Web3.

This significant milestone sees the first Zilliqa 2.0 proto-testnet become available to the public, marking a crucial first step in the rollout of its new network, which promises to deliver an efficient and scalable blockchain designed to make Web3 as easy to use as the internet. The release of Jasper is the first step on the roadmap for Zilliqa 2.0, each of which will see the network expanded with further functionality according to the protocol’s whitepaper.

The Jasper proto-testnet introduces Zilliqa 2.0’s new Proof-of-Stake consensus mechanism, which delivers lightning-fast transactions at low cost, all while remaining energy efficient and capable of scaling to the needs of businesses and developers globally. This early version of the Zilliqa 2.0 network allows developers and validators to explore the new network’s enhanced capabilities and experiment with running a validator node and earning rewards for helping to secure the network.

The proto-testnet offers other foundational features such as EVM (Ethereum Virtual Machine) compatibility and support for Scilla smart contracts, and the network will continue to undergo active development as work progresses on Zilliqa 2.0. The Zilliqa tech team will work closely with developers and validators to discuss their feedback and mitigate the impact of any bugs or downtime they encounter when testing this early, proto-testnet version of the Zilliqa 2.0 network.

Future milestones include the release of the Zilliqa 2.0 mainnet and the progressive introduction of features such as x-shards and smart accounts, which will deliver unprecedented customisation and accessibility.

A core feature of Zilliqa 2.0’s design is to be able to adapt to the scaling and security needs of the applications running on it, allowing businesses and developers to build on a platform that works for them while being seamlessly integrated with the global Web3 ecosystem and audience. Zilliqa 2.0’s simplicity and powerful customisation positions it as the ideal white-label solution for businesses looking to leverage the benefits of Web3.

Whether a company or developer wants to launch their own digital assets, build decentralised applications (dApps), or create new digital experiences, Zilliqa 2.0 will provide the infrastructure to do so efficiently and at scale.

Commenting on the release of the Jasper proto-testnet for Zilliqa 2.0, Zilliqa Head of Research Zoltan Fazekas said:

“This launch marks a significant step forward in realising our vision for Zilliqa 2.0. The Jasper proto-testnet is not just a test environment – it’s the beginning of a new era in blockchain technology, where speed, efficiency, and user-friendliness converge. We invite developers and businesses to join us in exploring the possibilities of this groundbreaking network.”
With the launch of Jasper, Zilliqa is calling on potential new validators worldwide to onboard and test the network as pioneers of Zilliqa 2.0. This is an opportunity to play a key role in the future of the network and earn sustainable rewards by contributing to its security and resilience. Developers and potential validators are encouraged to read the docs for Zilliqa 2.0 to get started with the Jasper proto-testnet.

About Zilliqa

Zilliqa is the industry-recognised layer-1 blockchain founded in Singapore in 2018. The blockchain serves as a versatile foundation that facilitates a broad array of Web3 applications and services across a multitude of sectors including luxury and entertainment, providing a robust platform for emerging startups and established enterprises alike.

The next evolution of the network, Zilliqa 2.0 offers a user-centric and customisable layer 1 infrastructure  designed to drive the mass adoption of Web3. Currently rolling out testnet with the mainnet launch in Q4’2024.

For more information, visit roadmap.zilliqa.com.

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SOURCE Zilliqa Research Pte. Ltd.

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VICTORIA, Seychelles, March 20, 2024 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, has been acclaimed by Forbes Advisor as one of “The Best Crypto Apps & Exchanges of March 2024“, a continued honor after being recognized by Forbes as one of the Best Crypto Exchanges in 2023. Forbes Advisor meticulously evaluated key variables encompassing the quality of exchange platforms, ultimately recommending KuCoin as a compelling choice for both new and experienced investors.

Forbes Advisor recognized KuCoin for its exceptional attributes that distinguish itself within the industry. With over 800 different cryptocurrencies available for trading, earning, and investment, KuCoin has solidified its position as a leading player with an extensive range of altcoins offered at low fees.

Johnny Lyu, CEO of KuCoin emphasized, “KuCoin is honored to receive this prestigious recognition from Forbes Advisor and remains dedicated to delivering innovative solutions and exceptional trading experiences for its customers.”

KuCoin was also named as one of the Best Crypto Exchanges and Best Staking Platform for 2023 by Forbes Advisor, top 50 companies in the 2023 Hurun Global Unicorn List, the Most Recommended Exchange by Finder’s Award 2023, and the Best Crypto App for enthusiasts by The Ascent. Earning this coveted recognition “Best Crypto Apps & Exchanges of March 2024” from Forbes Advisor serves as a testament to KuCoin’s substantial contributions to the crypto trading industry, solidifying its position as a leading platform of choice.

About KuCoin

Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 800 digital assets and currently provides Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 30 million users in more than 200 countries and regions. KuCoin is currently one of the top 8 crypto exchanges. In 2023, KuCoin was named one of the Best Crypto Exchanges by Forbes and recognized as a highly commended global exchange in Finder’s 2023 Global Cryptocurrency Trading Platform Awards. Learn more at https://www.kucoin.com/.

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SOURCE KuCoin

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SINGAPORE, March 20, 2024 /PRNewswire/ — OKX, a leading Web3 technology company, has issued updates for March 20, 2024.

Merlin Chain Now Supported on OKX DEX Aggregator, Expanding Trading Options
OKX DEX, a multi-chain, cross-chain decentralized exchange aggregator of 400+ other DEXs and approximately 20 bridges, has added support for Merlin Chain. This integration enables users to trade assets and perform cross-chain transactions on the Merlin Chain through OKX DEX.
OKX also recently announced that it is the first major industry player to fully integrate Uniswap Labs’ trading APIs into its offerings. The integration includes the launch of the ‘Snap’ trading mode feature on OKX DEX to aggregate Uniswap’s industry-leading liquidity, enabling users to swap tokens on Ethereum quickly and intuitively without incurring any gas fees.
Merlin Chain is a leading Layer 2 network in the Bitcoin ecosystem that has implemented ZK-Rollup and has been utilizing fair launches and community-driven native innovations. On February 22, OKX announced that its Web3 Wallet has integrated with Merlin Chain, enabling users to access its advanced blockchain ecosystem via web extension.

For more information, please visit the OKX Support Center.

For further information, please contact:
Media@okx.com

About OKX

A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:

• OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 80 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
• DEX: A multi-chain, cross-chain decentralized exchange aggregator of 400+ other DEXs and approximately 20 bridges, with 200,000+ coins and more than 20 blockchains supported.
• NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
• Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.

OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.

As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.

To learn more about OKX, download our app or visit: okx.com

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SOURCE OKX

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Set to pioneer investment in Web3 gaming with early stage investments already made in category winners

SYDNEY, March 19, 2024 /PRNewswire/ — Immutable, and King River Capital, assisted by Polygon Labs, have combined forces to launch the Inevitable Games Fund (‘IGF’ or ‘the Fund’). As a first of its kind ecosystem-agnostic fund, IGF leverages the deep insights and resources of web3 gaming giants Immutable and Polygon Labs to identify high growth opportunities for investors.

The Fund’s investment process will be led by King River Capital in collaboration with Immutable and Polygon Labs providing key sourcing and web3 gaming expertise.

IGF is testament to the partners’ commitment to fostering innovation and growth across the web3 gaming sector. The Fund, which is privately offered and only open for investment by certain types of professional and sophisticated investors will have a final cap on fund size of US$100 million. It has already secured an anchor commitment from Alpha Wave Ventures (backed by Alpha Wave Global and the Abu Dhabi Royal Group’s Chimera Capital), as well as commitments from Merit Circle, a leader in the web3 gaming space, several family offices such as Mike Arrington, Co-Founder of CrunchFund and Arrington Capital; Steve Kokinos, of Sonic Boom Ventures and former CEO of Algorand; James and Robbie Ferguson, Co-Founders of Immutable; and Sandeep Nailwal, Co-Founder of Polygon Labs.

The Fund has already identified a strong pipeline of investment opportunities and has warehoused seven early stage investments including:

• Pixelmon, the world’s first truly decentralised Web3 gaming IP.
• Metalcore, an open-world combined arms game where players can engage in massive player-versus-player (PVP) encounters and face AI-enhanced enemies. Players can fight on foot and pilot a wide array of combat vehicles and giant mechs in massive battlefields where frenzied players fight for their factions in territorial conquest.
• Guild of Guardians, one of the most anticipated Immutable platform games this year having attracted 1M+ pre registrations ahead of release in Q2 2024.
• My Pet Hooligan, a Hollywood style animation meets team deathmatch gameplay.

The combination of King River Capital’s expertise in venture and digital asset investing, together with Immutable and Polygon Labs’ web3 gaming deal flow and digital assets expertise, uniquely positions the Fund to identify best in class investment opportunities across the multi-hundred billion dollar global video game industry.

King River will manage the deployment of IGF capital across premier game studios, web3 infrastructure, and immersive gaming experiences, that are considered to redefine the digital entertainment landscape, regardless of the platform.

Messari, a leading provider of crypto market intelligence, recently estimated^[1] the combined marketshare of Immutable and Polygon to be ~70% of total blockchain gaming development, following a significant growth year for the entire industry.

Zeb Rice, Co-Founder and Managing Partner at King River Capital, said: “Spending on video games exceeds the global revenue from movies, streaming TV and the music industry, combined, and it is ripe for a huge technology shift.

“Just as mobile gaming went from virtually zero in 2008 to 79% of gamers playing mobile today,^[2] we believe a similar shift has only just begun to web3 technology. The Fund provides investors with an opportunity to gain unique access to the best web3 gaming projects globally and is designed to benefit from this multi-hundred billion dollar shift in spending to this disruptive new technology.”

Commenting on the launch of the Fund, Robbie Ferguson, President and Co-Founder of Immutable, said: “We are excited to be launching this pioneering fund in partnership with King River Capital and assisted by Polygon Labs. Our combined expertise, global relationships, and industry reach ideally position the Fund to identify and invest in the best web3 gaming and gaming infrastructure opportunities globally.”

Since 2018 the sector has attracted approximately $19 billion in investments^[3]. In 2023, blockchain gaming related rounds reached $1.7B^[4].  A significant part of that has flowed to the 270+ blockchain games in development on Immutable.

A 2023 report by PwC estimated that total gaming revenue globally will rise from US$227 billion in 2023 to US$312 billion in 2027, representing a 7.9% CAGR.  This will likely be driven by a combination of factors, including the benefits of decentralisation and ownership features, play-and-earn models, and the integration with emerging technologies.

ENDS

Any information stated in this document is intended to be general in nature and is not personal financial product advice, and furthermore this document has been prepared without taking account of any person’s objectives, financial situation or needs. Before considering an investment, you should consider the appropriateness of the investment having regard to your personal objectives, financial situation and needs. This document and the information conveyed is also not intended be in any way a general solicitation of interests in any financial product or for the provision of any financial service. Any reference to the names, service marks or trademarks of parties are for and held by each of those parties and is not an acknowledgement of a permission or right, license or sub-license the use, exclusive or otherwise, of those names, service marks or trademarks.

About King River Capital

King River Capital invests early to mid-stage high-growth technology businesses solving critical problems within large markets. Since its founding in 2019, King River has raised four funds and invested in 32 companies across North America and Australia, including through its King River Digital Asset Fund that was launched in February 2022.

King River investments in crypto and web3, include Immutable; Discord (the defacto locus for crypto conversations, DeFi protocols, DAO governance, and NFT communities); Splash (one of the world’s most popular music game and metaverse participant), Paystand (B2B payments company that utilises the Ethereum blockchain to build zero-fee payments infrastructure), Consensys, LayerZero, and Aztec.

The King River Capital team comprises 16 professionals across Sydney, Denver and New York.

About Immutable and Polygon Labs

Immutable and Polygon Labs have both stood at the forefront of web3 gaming advances since the industry’s infancy. They each boast deep knowledge of the industry, complex product suites, and gaming-specific technologies, most notably the Immutable zkEVM chain powered by Polygon. Their wealth of experience allows the organizations to be at the center of a transformation bringing digital ownership to millions around the world through gaming.

The Immutable gaming platform makes it easy for game studios and independent developers to safely and confidently build and launch successful web3 games. The product suite includes pre-built end-to-end solutions, optimized for usability, that help developers get to market faster without sacrificing security or player experience. Builders get personalized web3 guidance, live support for their communities, and access to the largest ecosystem in gaming.

Immutable is the first gaming platform to deliver a zero-knowledge (zk) scaling solution and provides developers with multiple zk-based scaling options, including Immutable X, a rollup based on StarkWare technology, and Immutable zkEVM, powered by Polygon. Immutable has raised over $300M USD from leading global investors including Temasek, Bitkraft, Tencent, King River Capital, and more and won 270+ well-funded games onto its platform.

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SOURCE King River Capital

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