Cryptocurrency
Socrates Unveils 3 Million USDT Influencer Accelerator Program and Airdrop
[PRESS RELEASE – London, United Kingdom, December 15th, 2023]
Socrates, a global web3 social media platform rewarding users for debating, has launched an Influencer Accelerator Program to drive user engagement and community-building on the platform. The 3 million USDT fund goes live on 21st December, open to all web3 influencers regardless of following. On the same night, Socrates will host four events worldwide in London, Mexico City, Hong Kong and Buenos Aires to celebrate the recent launch of the app and distribution of the fund.
Socrates: Shaping Web3 Social Media with Rewarding Q&As
In the dynamic landscape of web3 social media, Socrates has emerged as a leading platform, sparking passionate discussions within the GameFi and SocialFi domains. Users can participate in multiple-choice Q&As, debating and sharing knowledge, including a unique incentivised ecosystem, where any interaction requires contributing to the question’s prize pool. Potential rewards* are then distributed once the question has closed, having already seen question prize pools amassing over 10,000 USDT* and creators earning nearly 1000 USDT just by asking a question.
Since its global launch in November, Socrates has become the go-to space for web3 users and key industry leaders to share their points of view and form like-minded communities, and the company now calls on influencers to unlock the thrilling potential of the platform for Play-to-Earn incentives.
Socrates’ Genesis Airdrop
Socrates is also excited to announce its Genesis Airdrop scheduled for December 18th, 2023, at 9am UTC. This event marks a significant milestone in rewarding the early adopters and contributors who have been instrumental in the platform’s growth since its launch last month. The airdrop will distribute a total of 100,000 tokens, with allocations of 10% to NFT Pen holders, 20% to active content creators, and the remaining 70% to early product supporters. The eligibility snapshot will be captured on December 16th, 2023, at 23:59 UTC. With this airdrop, Socrates aims to thank its users for their diverse and insightful contributions while looking forward to more such rewarding opportunities in the future.
Socrates’ 3M USDT Influencer Program
In a groundbreaking move, Socrates has recently introduced the 3 million USDT Influencer Accelerator Program. It’s not just a fund; it’s an invitation for influencers to dive into the hottest spot in the web3 universe where they can spark debates and take back substantial rewards.
To show Socrates support for selected influencers, Socrates will inject 3 million USDT* into questions created by selected influencers from the 21st December. This injection is poised to create a global buzz, emphasising the platform’s commitment to recognising and rewarding influential voices. The amount injected will be determined depending on their influence, where both influencers and users can earn a share of the 3 million USDT*.
Socrates’ Reward Syste
On the Socrates platform, everyone has the chance to earn rewards by posing questions, providing answers, and engaging in various interactions. Both influencers and platform users can benefit from the large prize pools created by the 3 million USDT injection, where selected influencers will secure guaranteed rewards by simply posing questions.
For influencers, benefits include:
- As question creators, they are guaranteed a minimum of 5% share of the total points awarded to prize winners from question’s prize pool, including the points injected, known as the Question Creator Prize. If their question goes trending, they can also receive an additional trending bonus
- Leveraging the global reputation of Socrates to nurture and expand their communities, amplifying their online presence and growing awareness
- Learning important strategies for effectively utilising Socrates and interacting to maximise their chances of earning rewards
For everyday Socrates’ users can also benefit by keeping a watchful eye on the questions posted by influencers on the platform in the coming weeks:
- By actively engaging with influencer’s questions, users stand the chance to earn significant rewards from the question’s large prize pools
Who Can Join and How?
The program is open to all web3 influencers with a strong community and following, a good understanding of the SocialFi and GameFi spaces, and who think they can make an impact on our platform.
influencers looking to be a part of this unprecedented opportunity can now submit their applications through the application form as soon as possible. Selected influencers are required to attend vital training sessions, enabling them to capture public attention through intriguing questions and answers and leveraging Socrates’ unique product features.
Double Celebration: Offline Events Across the Globe
In addition to the launch of the fund, four events in London, Mexico City, Hong Kong and Buenos Aires will turn the 21st December into a double celebration, honouring the recent launch of the Socrates app last month. The offline events are set to welcome an impressive guest list, featuring web3 industry leaders, Socrates’ 200+ employees, key partners, and influencers. Attendees can anticipate product demonstrations, live music, on-stage debates, and more, with an exclusive announcement set to be revealed on the night. The London event will also be livestreamed globally for everyone to experience the celebration.
- Socrates is not just a platform; it has transformed into a thriving community where influencers redefine their online identities, participate in thoughtful debates, and unlock significant rewards! Sign up for the Influence Accellerator Program now!
- For detailed information about the 100,000 airdrop, please refer to Socrates’ Twitter account
- Members of the public interested in live-streaming the event can view it on Socrates’ social media platforms in the evening (local time) of the respective locations.
- Users can join the Socrates community online app.socrates.com, or download the app on Google Play and Testflight
- Users can sign up now with the invitation code 8kbe8hsq or use the invitation link
* USDT awarded in the form of points that can be redeemed 1:1 for USDT
About Socrates
Socrates is a global web3 social media and entertainment platform based on blockchain, where users earn rewards by participating in multiple-choice Q&As, debating, and sharing knowledge. Combining the best of Social-Fi and Game-Fi, the organisation aims to pioneer a new era of dialogue and knowledge beyond borders, empowering and rewarding individuals to share their vision and shape the future through diverse perspectives.
With social media and mainstream media currently directing human thoughts, Socrates inspires individuals to think freely about issues and combats misinformation. The platform features an innovative and intuitive user interface, allowing anyone to openly debate and discuss any topic, ranging from politics to sports and entertainment. Users can create multiple-choice questions in-app, allowing others to interact by answering, giving reasons, and liking comments.
Integral to Socrates’ mission, they’re dedicated to providing a space for people to voice their honest opinions, presenting unique perspectives in a streamlined format. The platform has also created an incentivised ecosystem where any interaction requires contributing to the question’s prize pool, with potential rewards being distributed once the question has closed. Valuable contributions and more popular ‘trending’ questions may offer larger rewards, ensuring users initiate or contribute to the dialogues that matter.
Utilizing decentralized blockchain technology, users can access the platform by linking their non-custodial wallet and spending crypto. With a focus on transparency, safety, and security, the community will benefit from web3’s unparalleled privacy features and spam reduction.
Socrates is a global organisation with a unique decentralized model that places its members at the core. With many members from leading fintech, web3, and crypto companies, the company has considerable plans for expansion, and is dedicated to giving everyone the freedom to share their opinion without constraint, fostering a community-driven platform that transcends geographical boundaries.
Learn more at socrates.com.
Contact
PR Executive
Marco Lucchesini
EAK Digital
marco.lucchesini@eakdigital.com
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
Cryptocurrency
Bitcoin Price Stalls at $94K, Ethereum Struggles to Maintain $3.2K (Weekend Watch)
Bitcoin’s volatile end of the week resulted in a price drop toward $91,000 and a subsequent surge to $96,000 before the asset calmed roughly in the middle.
The altcoins continue to struggle as SOL, ADA, and AVAX have charted 4% daily declines.
BTC Calms at $94K
It was nothing short of a volatile rollercoaster of a week for the primary cryptocurrency. It all started quite promising after the most recent MicroStrategy purchase on Monday, as the asset flew past $100,000 for the first time this year and kept climbing on Tuesday morning to over $102,000.
However, that’s when the landscape changed, and BTC slumped hard later that day, and on Wednesday, it slumped to $96,000. Although that was a painful correction on its own, bitcoin kept plunging in the following days to $91,200 (on Bitstamp) on Thursday, which became its lowest price tag in over a month.
The bulls managed to intervene at this point and pushed BTC north. More volatility ensued with several big moves that eventually pushed the asset to $96,000. However, it failed there and has lost almost two grand since then to trade at $94,000 as of now.
Its market cap has risen to just under $1.870 trillion on CG, while its dominance over the alts is up to 54.5%.
ADA, SOL Struggle
Most altcoins are in the red today as well. Ethereum slipped below $3,200 on Thursday, and even though it managed to recover some ground since that low is close to breaking below it now after a 2.3% daily decline. XRP is among the few alts with minor gains today.
In contrast, SOL, ADA, SUI, AVAX, and LINK continue to lose value, with losses of up to 4%. SOL is well below $190 now, while ADA is just over $0.9. More painful losses come from OM, ICP, and RNDR from the larger cap alts.
The total crypto market cap has lost some steam since yesterday and is down to $3.43 trillion on CG.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
Cryptocurrency
How Will Ripple (XRP) and Dogecoin (DOGE) Prices React as Whales Keep Buying?
TL:DR;
- Crypto markets went through a more volatile end of the week, but larger investors seem unfazed as they keep accumulating two of the biggest tokens by market cap.
- The question now is whether XRP and DOGE will rebound swiftly, given the massive purchases completed by the so-called whales.
It was a rollercoaster of a week for the entire crypto market, with BTC surging past $102,000 at the start of it only to dump by more than ten grand within two days to a multi-week low.
The altcoins followed suit, as DOGE, for example, stood close to $0.4 at one point this week but then plunged toward $0.31, representing a 22% retracement.
XRP went above $2.5 briefly on January 4 and to $2.47 on January 7, but the market-wide correction pushed it to a low of $2.2 on January 9 before it calmed to around $2.33 in the past 24 hours.
Such enhanced fluctuations tend to scare off certain investors, especially retail, but that has not been the case with whales. Data from Santiment, shared by Ali Martinez, show that XRP and DOGE whales went on an accumulation spree amid this market uncertainty.
Those holding the largest meme coin by market cap increased their stash by adding more than 470 million DOGE in 48 hours alone. In USD terms, this would put the total accumulation at about $150 million, with an average price of $0.33 per token.
The XRP case is even more bullish as whales purchased more than a billion tokens within the same timeframe. An average price of around $2.3 puts this two-day acquisition at $2.3 billion.
Whales bought roughly 1 billion $XRP in the last 48 hours! pic.twitter.com/XUlibpXkz5
— Ali (@ali_charts) January 10, 2025
It’s worth noting that both assets reacted to this market-wide crash in a less painful manner compared to the previous one at the end of 2024, when BTC slumped toward $91,000 once again.
Back then, XRP tumbled hard, slipping below $2 on a couple of occasions. So far, during this correction, the token’s low was 10% higher at $2.2, perhaps assisted by the aforementioned large purchases.
DOGE’s scenario was similar as it plummeted to just over $0.26 on December 30, while its bottom now came at over $0.31.
Consequently, it’s safe to say that the whale accumulations helped both assets during the crash, and they could have an even greater effect if they continue and the market rebounds in the next few days.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Cryptocurrency
2024 Bitcoin Mining: Key Industry Developments Revealed (Report)
The year 2024 saw the Bitcoin mining industry record significant developments and historic milestones. According to a report by the Bitcoin mining entities NiceHash and Digital Mining, 2024 was a record-breaking year for the promising industry.
NiceHash and Digital Mining revealed that in 2024, the mining industry witnessed high block space demand, increased hashrate, and new trends in mining machine models. Large mining companies also expanded via mergers and acquisitions, enhancing their output and efficiency.
Mining Developments in 2024
In 2024, the Bitcoin network started at block 823,807 and ended at block 877,270 after producing 53,463 blocks with an average block time of 9 minutes and 83 seconds. By the fourth Bitcoin halving, which slashed miner rewards from 6.25 BTC to 3.125 per block, around 93.75% of all Bitcoin had been mined.
The Bitcoin miner ViaBTC produced the halving block, which recorded the highest fees seen since May 2021: 37.626 BTC in transaction fees. Over a month before the halving, Marathon Digital mined the largest-ever Bitcoin block, measuring 3,990.36 kilobytes. Notably, the first 100 blocks after the last halving averaged 11.19 BTC in fees.
Although the halving turned 2024 into a challenging year for miners, these entities still added a record amount of hashrate to the Bitcoin network. The year started with a hashrate of 515 EH/s and ended with 807 EH/s after reaching an all-time high of 808 EH/s. This represented a hashrate growth of 56.7% or 292 EH/s.
Furthermore, the halving event caused the Bitcoin hashprice to tumble to record lows, while the network saw 26 difficulty adjustments.
Predictions for 2025
The United States maintained its dominant position among the leading regions in the mining industry. However, NiceHash and Digital Mining found that Africa and South America are emerging regions as miners leverage their underutilized energy resources.
Also, there was a notable shift among Bitcoin miners, with many pivoting toward a bitcoin (BTC) treasury strategy. Several miners did not just decide to hold the coins they produced but also took steps to raise capital to make additional purchases.
Additionally, miners expanded their capacities by upgrading their mining machines, pursuing strategic acquisitions, and raking in new capital through various means, including initial public offerings. In fact, the market cap of publicly traded mining stocks exceeded $50 billion for the first time.
Interestingly, the halving event led to lower BTC production in 2024, but a higher BTC price helped ease the impact of the reduced output.
Meanwhile, NiceHash and Digital Mining outlined several predictions for the mining industry in 2025, including broader adoption of the bitcoin treasury strategy, heightened profitability for miners, and network hashrate surpassing 1 zetahash.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
- Forex2 years ago
Forex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex2 years ago
How is the Australian dollar doing today?
- Forex2 years ago
Unbiased review of Pocket Option broker
- Forex2 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Cryptocurrency2 years ago
What happened in the crypto market – current events today
- World2 years ago
Why are modern video games an art form?
- Commodities2 years ago
Copper continues to fall in price on expectations of lower demand in China
- Forex2 years ago
The dollar is down again against major world currencies