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TRON’s Q3 & Q4 2024 Roadmap: Enhancing User Experience

by Ouess
written by Ouess

TRON founder Justin Sun has unveiled the platform’s ambitious plans for the third and fourth quarters of 2024. These initiatives aim to enhance user experience, expand market share, and strengthen the talent pool.

TRON’s Strategic Roadmap & Future Outlook

Justin Sun’s Announcement

Following a strong performance in Q2, TRON is set to build on this momentum with strategic plans for Q3 and Q4 2024. Sun described the second quarter as “generally very good,” noting steady improvements in both the public chain and exchange businesses.

Key Objectives

For the latter half of the year, Sun anticipates a “major breakthrough.” The focus will remain on TRON’s core business strengths, with several key initiatives aimed at driving growth and innovation. The primary objectives include refining user experience, expanding TRON’s competitive edge, and increasing market share. These goals highlight TRON’s efforts to attract new users and developers while solidifying its position in the competitive blockchain industry.

Focus on Talent Acquisition

In addition to user-centric and market-focused strategies, Sun emphasized the importance of talent acquisition. The plan includes a strong focus on recruitment to enhance TRON’s overall talent pool. This move underscores the crucial role human capital plays in driving technological innovation and business success in the blockchain sector.

TRON Performance & Justin Sun’s Recent Developments

Market Performance

As of the announcement, TRON’s price was $0.14, with a 24-hour trading volume of $434 million. The price saw a 3.54% increase in the last 24 hours and a 10.02% rise over the past week. With a circulating supply of 87 billion TRX, TRON’s market capitalization stood at $12.1 billion. These figures position TRON strongly within the cryptocurrency market, reflecting growing investor confidence.

TRX USD Daily chart

Investor Activity

Sun’s involvement in recent market activities underscores his reputation as a top crypto investor. Notably, there was significant whale activity around Ethereum, with Sun reportedly absorbing selling pressure ahead of the anticipated approval of a spot Ethereum ETF. His public profile and market moves often attract media attention, highlighting the interconnectedness of major players in the cryptocurrency space.

Conclusion

TRON’s roadmap for Q3 and Q4 2024, as unveiled by Justin Sun, is ambitious and strategically focused on enhancing user experience, expanding market share, and strengthening the talent pool. These initiatives are poised to drive significant growth and innovation, setting the stage for TRON’s continued success in the competitive blockchain industry.

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Altcoin

Altcoin Analysis: $RNDR, $AVAX, and $PYTH at Critical Levels

by Ouess
written by Ouess

The market is still waiting for a Bitcoin rally that has yet to arrive. Meanwhile, altcoins like $RNDR, $AVAX, and $PYTH are at crucial levels. Will they bounce back or continue to decline?

$RNDR Approaches Bounce Levels

Render ($RNDR) has fallen below its bull trend line, breaking strong support at $7. The price has now confirmed this level as resistance, dropping to $5.42, which aligns with the 0.618 Fibonacci level. This might offer some support and potentially lead to a bounce. If not, the next support is at $4.63.

$AVAX Nears Base Price Structure

Avalanche ($AVAX) risks falling back to its bull market base structure at $21, coinciding with the 0.786 Fibonacci level, a very strong support. Currently, $AVAX is holding at $25, a support level reinforced by breaking the downward trend line. The upcoming weekly close will be crucial for determining its direction.

$PYTH at a Double-Bottom

$PYTH experienced a significant price drop due to a recent token unlock. Currently, it is below the 0.786 Fibonacci level on the weekly time frame. However, the weekly close is pending, and $PYTH needs to climb above this level and break the downward trend line. A double bottom is forming, and a slight uptick from the stochastic RSI bottom suggests possible momentum. If the indicator continues to rise and another fakeout is avoided, $PYTH could see a recovery.

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Altcoin

Sui Token Integration Boosts Zero Hash Platform

by Ouess
written by Ouess

Zero Hash, a top crypto and stablecoin infrastructure platform, announced today that its customers can now enable the SUI token from Sui, a Layer 1 blockchain, in permitted regions. This integration aims to enhance transaction speed, security, and scalability for users.

Sui’s Advanced Capabilities

Sui was built to deliver exceptional speed, security, and scalability. It supports up to 297,000 transactions per second and achieves near-instant transaction finality. Using the innovative Move programming language, Sui allows developers to create secure, advanced smart contracts. With over four billion transactions processed, Sui has proven its ability to handle large-scale applications and services.

Zero Hash’s Comprehensive Infrastructure

Zero Hash provides a complete technical and regulatory infrastructure for the compliant movement of fiat, crypto, and stablecoins. Its APIs and SDKs allow businesses to integrate blockchain technology, including Sui, seamlessly. With access to over 65 digital assets and 22 blockchains, Zero Hash empowers businesses to develop highly connected and interoperable crypto and stablecoin products for modern value transfer.

Expert Insights on the Integration

Greg Siourounis, Managing Director of the Sui Foundation, expressed enthusiasm about the integration, stating, “We are thrilled that Zero Hash now supports Sui. Zero Hash’s infrastructure is vital for connecting fiat and crypto economies, making it easier for businesses and users to interact with the Sui technology platform.”

Joaqin Ayuso de Paul, Global Head of Product at Zero Hash, added, “The integration of the SUI blockchain into Zero Hash’s ecosystem is another example of us providing our customers simplified and compliant access to innovative technology to design new and improved ways to move value globally.”

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Gainers

Siacoin Price Surges 29% Amid Growing Demand

by Ouess
written by Ouess

Siacoin (SC) has experienced a significant price surge, rising 29% in the last 24 hours. On Wednesday, Siacoin’s price jumped to $0.005248 from a low of $0.004103.

This increase extends the gains since the altcoin hit $0.003531 on July 5. Ranked among the top 100 cryptocurrencies by market capitalization, SC’s market cap rose 27% to over $303 million. Additionally, 24-hour trading volume skyrocketed more than 2,700% to $72.7 million.

SIACOIN 7 day chart

Siacoin’s Role in Decentralized Storage

Siacoin is the native token of Sia, a decentralized cloud storage network. Sia offers a marketplace where users can rent out their unused storage space. Renters pay hosts using smart contracts with the native utility token, SC. Hosts use SC as collateral, ensuring reliability and trust. This token not only secures the proof-of-work (PoW) coin but also serves as the payment currency on the network.

Community Grant Funding

On July 9, the Sia Foundation announced new grant funding for community contributors. The foundation funds research, development, and deployment of projects that support decentralized cloud storage and the broader Sia ecosystem. The latest report from the grants committee revealed approval for four projects: S5 Network, SkyMusic 2, SiaLearn, and Sia NFS Gateway

.

Final Thoughts

Siacoin’s recent price surge reflects growing interest and demand for decentralized cloud storage solutions. As the Sia network continues to expand and innovate, SC’s role in the ecosystem becomes increasingly vital.

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Altcoin

Filecoin Teams Up with Nuklai to Revolutionize AI Data Storage

by Ouess
written by Ouess

Despite recent struggles for web3 AI tokens, Filecoin is making strides in the AI sector. The Filecoin Foundation has partnered with Nuklai, an AI infrastructure platform, to develop a decentralized database for AI and machine learning.

Decentralized Data Storage

Announced on July 8, Nuklai will leverage Filecoin’s network through its Lighthouse perpetual storage service. This partnership aims to create a data ontology solution that supports both raw data and metadata with traceable archiving. A data ontology defines the relationships between various data concepts, which is essential for training AI models effectively.

Objectives and Benefits

Nuklai stated in a press release, “Our objective is to store data efficiently, transparently, and in a decentralized manner using Filecoin’s decentralized data storage network.” The goal is to allow everyone to contribute by sharing and contextualizing datasets via app.nukl.ai.

By standardizing data uploaded to Lighthouse, the efficiency of using this data to train AI and machine learning models is significantly improved. Once defined and standardized, data is stored using Filecoin’s network and is accessible through Nuklai at all times. Importantly, the data owner retains ownership.

Challenging Centralized Dominance

Currently, centralized cloud providers like AWS, Google Cloud, and Alibaba Cloud dominate the data storage sector. Nuklai and Filecoin aim to challenge this dominance with their decentralized approach.

Market Context

The price of Filecoin (FIL) has dropped 13.5% in the past week amid a broader market pullback, according to The Defiant’s crypto price feeds. Many web3 projects jumped on the AI bandwagon following the launch of OpenAI’s ChatGPT. However, with most protocols failing to deliver concrete AI products, the sector has seen significant volatility.

AI Tokens Volatility

AI-aligned web3 tokens nearly doubled in May, reaching a market cap of $39 billion by June 1, according to CoinGecko. However, their capitalization has since crashed by 37.5%, currently sitting at $22.9 billion after a 2.6% dip in 24 hours. Nuklai’s NAI token was the best-performing asset over the past 24 hours with a 27% gain, though it has crashed 88.4% since its all-time high on April 19.

A June 26 report from Grayscale Research noted that AI tokens were among the strongest-performing segments of the crypto market in 2024, with an 80% year-to-date gain at the time. The report added that AI tokens had the largest dominance in the social media landscape.

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Altcoin

Crypto Prices Today July 6: Bitcoin Hits $56K Amid Institutional Interest

by Ouess
written by Ouess

Crypto prices today show a significant rise, sparking optimism among investors. Bitcoin (BTC) has climbed to the $56K mark, recovering from a dip to $53K. Ethereum (ETH), Solana (SOL), XRP, Dogecoin (DOGE), and Shiba Inu (SHIB) have also followed this upward trend.

Market Overview

The global crypto market cap increased by 2.79% in the past day, reaching $2.06 trillion. The total crypto market volume also saw a 4.83% rise, hitting $109.33 billion.

Bitcoin Price Movement

Bitcoin’s price rose by 1.90% over the past 24 hours, currently trading at $56,369.52. Its daily low was $53,717.38, while the high reached $56,979.02. This increase is partly due to $143.1 million in inflows into U.S. spot Bitcoin ETFs, suggesting institutional interest in buying the dip. Despite this, Bitcoin’s market dominance dropped by 0.62% to 53.87%.

BTC USD Hourly chart

Ethereum Price Update

Ethereum’s price saw a 2.12% increase, reaching $2,973. Its 24-hour low was $2,957.40, and the high was $3,023.58. Ethereum’s market cap stands at $357.61 billion. Despite potential ETF developments, Ethereum has shown volatility with institutions favoring Bitcoin and Solana over ETH.

ETH USD Hourly chart

Solana and XRP Performance

Solana (SOL) experienced a significant 9.14% upswing to $134.77, with daily lows and highs at $122.42 and $137.53. Ripple’s XRP followed the broader market trend, rising by 8.15% to trade at $0.428, with its daily range between $0.3948 and $0.4314.

Meme Coins on the Rise

Dogecoin surged by 11.81% to $0.1067, while Shiba Inu gained 14.69% to $0.00001508. Other meme coins, including PEPE, FLOKI, and BONK, saw increases of 9%-16%. The standout performer was dogwifhat (WIF), ranking among the top gainers.

memecoin market

Top Crypto Gainers Today

  • Akash Network (AKT) rose by 26.92% to $3.35.
  • dogwifhat (WIF) jumped 26.17% to $1.93.
  • MANTRA (OM) climbed 22.87% to $0.8321.
  • MultiversX (EGLD) increased by 18.29% to $33.33.
TOP 24 hr gainers Source : CoinMarketCap

Top Crypto Losers Today

  • UNUS SED LEO (LEO) dropped by 1% to $5.69.
  • Core (CORE) fell slightly by 0.23% to $0.8873.

Conclusion

Hourly charts for Bitcoin and Ethereum show slight dips, indicating some volatility. However, altcoins continue to rise, contributing to Bitcoin’s reduced market dominance.

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Story

Polkadot Unfair Treatment of Asian Projects Sparks Debate

by Ouess
written by Ouess

The Polkadot blockchain ecosystem is under scrutiny for alleged unfair treatment of Asian-led projects.

Claims of a hostile environment and discriminatory practices have ignited a broader debate on inclusivity in the blockchain world. Asian project leaders argue they face more obstacles than their Western counterparts, questioning the ecosystem’s support and grant allocation processes.

Allegations from Asian Project Leaders

Victor Ji, co-founder of Manta Network, described the Polkadot ecosystem as “highly toxic” for Asian projects. Initially supported by the Web3 Foundation, Ji experienced a distancing from the ecosystem after securing funding. He cited complex politics, exclusive cliques, and difficulties in obtaining grants as major challenges.

Harold Yu, founder of DIN, echoed Ji’s concerns, stating that the grant application process was overly complicated. Both Ji and Yu highlighted the contrast between their struggles and the easier access to substantial grants for European and US-based projects. This perceived disparity has led to frustration and a sense of unfairness among Asian project leaders. Despite the criticisms, Ji acknowledged Polkadot’s impressive technology and vision, suggesting the issues lie in the ecosystem’s culture and practices rather than its technical foundations.

Financial Context and Community Response

Adding to the controversy, Polkadot’s recent financial report revealed a significant expenditure of 11 million DOTs (worth $87 million), with $37 million allocated to marketing. This high spending level has drawn criticism from the community, who argue that it has not yielded the expected returns. The current expenditure rate suggests Polkadot’s funds will last approximately two more years, raising questions about the long-term sustainability of its financial strategy. This financial context has further fueled the debate about resource allocation and support for diverse projects within the Polkadot ecosystem.

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Gainers

Tokens That Shined During The Crypto Market Q2

by Ouess
written by Ouess

BTC mining stocks, AI, and the gaming sector might stand out in the third quarter, one observer said.

Q2 Crypto Highlights

The second quarter saw three tokens – Brett (BRETT), Ton Network’s TON, and Kaspa’s KAS – emerge as notable performers. Meanwhile, Bitcoin (BTC) experienced a decline, pulling most major digital assets, including Ether (ETH), lower.

BRETT, a memecoin from the Base Chain inspired by the character Brett from Boys’ Club, more than doubled to 15 cents, becoming the top performer among the top 100 coins by market value, according to TradingView and CoinMarketCap. Toncoin (TON), the native cryptocurrency of The Open Network (TON), rose 42% to $7.65, and Kaspa blockchain’s KAS surged over 35%. In contrast, the total crypto market capitalization fell 13.8% to $2.2 trillion.

Meme Coin Mania

The rise of BRETT wasn’t an isolated event but part of a broader meme coin trend. DYOR’s Dune-based relative strength crypto narrative tracker showed the meme coin sub-sector rose over 45% in three months while others posted losses.

BRETT USDT Daily chart

Another top-performing asset was culture coin MOG, driven by positive sentiment and a cult-like following on social platforms like X. MOG’s market capitalization soared from $220 million in early April to over $700 million, briefly placing it among the top hundred tokens by that metric.

In bullish cycles, investors often rotate profits from larger coins like Bitcoin into smaller tokens like meme coins, fueling price increases and retail investor FOMO (fear of missing out). The fate of meme coins is tied to investor risk appetite and credit availability.

BRETT’s rise began in May when Bitcoin consolidated near $70,000, with its market capitalization nearing $2 billion at one point. Kenny Hearn, chief investment officer at SwissOne Capital, noted that established meme coins often hit a liquidity wall at the $2 billion mark before profit-taking and sideways volatility ensue.

TON and Telegram’s Role

TON’s surge was linked to its involvement with the messaging app Telegram, which has 1.56 billion users worldwide and 800 million active users. Justin Hyun, TON’s Director of Investments, stated, “A toncoin (TON)-based economy is starting to take root in the messaging app Telegram.”

Several factors boosted TON’s adoption, including Telegram’s pivot to TON payments for advertisements and the Open League reward program. The integration of tether (USDT) and the debut of Telegram-based game Notcoin’s digital token also increased network activity.

TON USD Daily chart

In Q2, TON’s daily active addresses rose to nearly 600,000, surpassing Ethereum. This growth was driven by the introduction of mini apps, decentralized apps embedded into Telegram. Notcoin, one of these apps, gained traction as users could “mine” Notcoin by pressing a button within Telegram. Katie Talati, head of research at Arca, highlighted that the launch of USDT on TON and Pantera’s significant investment in TON were major catalysts.

Kaspa’s Innovative Approach

Kaspa’s KAS token gained attention due to its parent proof-of-work (PoW) blockchain’s efforts to solve the blockchain trilemma (scalability, decentralization, security). Kaspa’s GHOSDAG technology processes transactions asynchronously and in parallel, enhancing performance and security while retaining PoW’s benefits.

Hearn explained that Kaspa’s approach to solving the trilemma with its DAG structure (supporting speed and scalability) and PoW security benefits has garnered strong market support. Additionally, KAS received a boost from bitcoin miner Marathon Digital’s announcement of mining KAS to diversify its revenue stream.

KAS USD DAILY CHART

Looking Ahead to Q3

Historically, the third quarter has been the weakest, with Bitcoin averaging just 5% gains over the past 13 years, compared to 60% in both the second and fourth quarters. The political landscape, including President Biden’s recent debate performance and potential replacements, might influence market sentiment.

Despite these challenges, crypto sub-sectors with strong fundamentals could continue to stand out. Hearn noted that projects like ONDO, JASMY, and ENS, which build quietly in the background and deliver on real use cases, hold long-term potential. Talati added that bitcoin mining stocks, artificial intelligence, gaming, and DeFi sectors could see growth.

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Altcoin

Altcoins Key Levels to Watch : Ethereum, Solana, and Binance Coin Price Analysis

by Ouess
written by Ouess

Explore the latest price analysis for Ethereum, Solana, and Binance Coin. Discover key support and resistance levels and market trends.

Ethereum (ETH) Price Analysis

Ethereum (ETH) has struggled to maintain its support at $3,350 and risks sliding to the next support level at $3,000. On Sunday, ETH dropped by 2.16%, falling below the 50-day SMA and settling at $3,420. Monday saw intensified selling pressure, pushing ETH to $3,241. However, buyers stepped in, driving the price back above $3,300, with ETH eventually settling just above $3,350. On Tuesday, ETH saw a marginal increase to $3,395, just shy of $3,400. By Wednesday, sellers regained control, dropping ETH to $3,369. Currently, ETH trades at $3,383, with buyers and sellers in a tug-of-war.

Challenges Ahead for Ethereum

ETH faces significant hurdles, with bears active above $3,400, making it difficult for buyers to push the price to the 20-day SMA at $3,500. If ETH can surpass this level, it may climb to $3,700. However, failure to reclaim $3,400 could see ETH drop below $3,300, potentially sliding to $3,000, where strong support is expected.

Solana (SOL) Price Analysis

Solana (SOL) has recovered well after hitting a low of $122 on Monday. Last week, SOL faced heavy selling pressure, dropping nearly 4% on Sunday to settle at $128.63. On Monday, bears pushed SOL down to $122, but buyers countered, pushing SOL back above $130 to $132. Despite this, SOL couldn’t surpass the 200-day SMA. On Tuesday, buyers retained control, pushing SOL above the 200-day SMA to $136.59, a 3.22% increase. Wednesday saw volatility, with SOL reaching $140 before sellers pushed it back to $136. Currently, buyers and sellers are battling for control.

Future Prospects for Solana

SOL’s first major resistance lies between $140 and $142. Failure to surpass this level could see SOL drop to $134, with the 200-day SMA providing support. If sellers push SOL below $130, the next support is at $116. However, if SOL maintains its bullish trend, it could surge towards $150.

Binance Coin (BNB) Price Analysis

Binance Coin (BNB) dropped to $551 on Monday, starting the week on a bearish note. However, buyers couldn’t sustain the pressure, and BNB recovered to close at $568. The week saw some consolidation, with BNB rising by 1.78% on Tuesday to settle at $578. On Wednesday, buyers attempted to push BNB above $600, but sellers defended this level, lowering the price to $572. Currently, BNB is down marginally, with buyers and sellers vying for control.

Key Levels for Binance Coin

For a recovery, BNB must break above the $600 resistance level. If buyers succeed, BNB could rally towards $650. A downturn from here could push the price back to the $560 support level. If this level is breached, BNB could drop below $500 to $471, where the 200-day SMA might offer support. The Awesome Indicator (AO) turning red indicates significant bearish momentum.

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Altcoin

Avalanche (AVAX) Price Drop: Will Recovery Happen?

by Ouess
written by Ouess

The recent Avalanche price drop has caught the attention of many in the crypto community. Trading at around $24.51, AVAX has plunged by 60% since its March high of $60.39.

More Trouble Ahead for Avalanche

Technical analysts point to a troubling head and shoulders pattern, indicating potential further declines. Experts like Crypto Patel suggest a correction of 40-60%, possibly pushing AVAX to $19 or even $13.

AVAX Whale Activities Surge

A significant factor behind AVAX’s price woes is increased whale activity. A notable entity, identified as “0x32…4f30” by ZachXBT, transferred approximately 1.96 million AVAX worth $54.2 million to major exchanges like Binance, Coinbase, and Gate. These transactions coincide with broader market pullbacks, amplifying AVAX’s price volatility.

Market Sentiment Amid the Avalanche Price Drop

Market sentiment around AVAX has turned cautious. Analysts like ‘Crypto Mechanic’ note that AVAX is the first high-cap coin to break its yearly low, signaling a loss of market confidence. Despite strong growth momentum and partnerships, such as those with game developer Konami, these positive developments haven’t shielded AVAX from broader market downturns and investor skepticism.

Potential for Recovery

Despite current challenges, some positive developments could support Avalanche’s recovery. The recent launch of AVAX staking on Coinbase is a significant step towards enhancing the token’s utility. Staking allows AVAX holders to earn rewards, adding a layer of passive income amidst price volatility.

Avalanche’s focus on real-world asset (RWA) tokenization and strategic partnerships also provides fundamental support. Projects like Konami’s NFT platform leverage Avalanche’s scalability and low transaction fees, potentially driving future adoption and utility demand for AVAX.

Conclusion

While Avalanche faces significant market challenges, the introduction of AVAX staking and continued strategic partnerships offer potential for recovery. The coming months will be crucial in determining whether AVAX can maintain key support levels and bounce back.

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