Cryptocurrency

Binance Wallet and BTC L2 Project BEVM Launch an Exclusive Airdrop

Published

1 year ago

April 6, 2024

[PRESS RELEASE – Cardiff, 英国, April 4th, 2024]

According to Binance Web3 official announcement, Binance Web3 Wallet has officially launched a joint airdrop event with the BTC Layer2 project BEVM. Users who complete three simple tasks on BEVM through Binance Web3 Wallet will receive an exclusive airdrop of BEVM token. BEVM will allocate 10,500,000(0.5%) $BEVM for the airdrop to Binance Wallet users participating in this event. This is the first collaboration between Binance Web3 wallet and Bitcoin Layer2.

BEVM is an EVM-compatible Bitcoin layer2 based on Taproot Consensus and uses $BTC as gas, enabling fully decentralized $BTC cross-chain and allowing $BTC to be introduced into a broader range of applications in a trustless manner. BEVM recently announced the completion of its ten-million dollar funding round, with investments from nearly 20 institutions including Rocktree Capital, Waterdrip Capital, Arkstream Capital, ViaBTC Capital, MH Venture, and Mapleblock. BEVM officially launched its mainnet on March 28, and in just one week, the mainnet has garnered over 600,000 user addresses.

What is BEVM?

BEVM is the first EVM-compatible Bitcoin L2 built on Taproot Consensus and uses $BTC as Gas.

Based on Musig + Bitcoin SPVs, Taproot Consensus is the final result of the BEVM team’s six years of exploring Bitcoin Layer2 solutions.

BEVM has two narratives, the first is “BEVM-Stack”(#BTClayer2 as a service), which can help developers launch #BTClayer2 with one-click. Secondly, BEVM will develop DBFX(Decentralized Bitcoin Foreign Exchange) protocol to seamlessly bridge native $BTC into any Defi protocol on any Chain. BEVM’s ultimate goal is to bring 10% of $BTC into the Layer2 network, expanding $BTC’s application scenarios to enable real circulation of $BTC.

The following are the key historical milestones of BEVM:

2017: Establishment of the BEVM team.

2018: Launch of the BTC Layer 2 solution ChainX, taking custody of 100,000+ $BTC and 500,000+ $BTC hash locks.

June 2023: Formal proposal of the BEVM Canary Network.

November 29, 2023: Publication of the BEVM whitepaper.

March 2024: Announcement of securing $10 million in funding with a post-investment valuation of up to $200 million.

March 2024: Announcement of the mainnet launch.

BEVM Funding Details

On March 25, 2024, BEVM announced the completion of a $10 million funding round, with a post-investment valuation of up to $200 million. The funding round involved approximately 20 investors, predominantly from Europe and the United States.

Among these investors, RockTree Capital stands out as a prominent and seasoned crypto investment institution based in the United States. Founded by Omer Ozden, who also serves as an international partner at ZhenFund Global Ventures, RockTree Capital boasts significant influence in the financial circles of China and the United States. Omer Ozden has previously served as a legal advisor for Facebook (now Meta) and was a member of the United States Congress. RockTree Capital has a strong track record of investing in and incubating numerous renowned crypto projects, including Chainlink, Tron, dYdX, Fantom, and Casper, among others.

In addition to RockTree Capital, other notable investors in the BEVM project include MH Ventures, which has invested in well-known projects like Celestia, Sei Network, and Linera; Mapleblock, known for its investments in Polyhedra, DAO maker, Kraken, and Huobi; and Arkstream Capital, which has invested in projects such as AAVE, Flow, Manta, and Particle.

Waterdrip Capital and Satoshi Labs, have also participated in the investment, as well as Viabtc Capital which is one of the world’s top three Bitcoin mining pools.

BEVM Technical Advantages

In the current market, BTC Layer 2 technology solutions can be broadly categorized into five types: Bitcoin sidechains, UTXO + client verification, Taproot Consensus, multi-signature + EVM, and Roullp.

BEVM adopts the Taproot Consensus technology, which was proposed and implemented by the BEVM team and serves as a typical use case for Taproot Consensus.

Taproot Consensus is a layer2 solution built on the three major native Bitcoin technologies. It has gradually matured since the Bitcoin Taproot upgrade in 2021. The essence of Taproot Consensus lies in Schnorr Signature + MAST Contract + Bitcoin Light Node Network.

Schnorr Signature enables Bitcoin multi-signature custodians to expand to 1,000, achieving decentralization of custodians. MAST Contract implements code-based management of aggregating signatures, relying on code rather than manual signature. The Bitcoin Light Node Network achieves decentralized Bitcoin cross-chain transactions and management through consensus driven by Bitcoin SPVs.

On March 28, 2024, BEVM’s mainnet, based on Taproot Consensus, officially launched, reaching over 600,000 user addresses within a week. It is currently one of the most implemented Bitcoin Layer2 solutions.

In summary, compared to other BTC L2 technological solutions on the market, BEVM boasts unparalleled advantages in terms of the native nature of Bitcoin technology, decentralization, and the level of implementation.

More Details about the Campaign between Binance Web3 Wallet and BEVM

On April 4, BEVM announced a joint airdrop campaign with Binance Wallet, offering airdrops for completing any of the three specified on-chain activities. BEVM has allocated 0.5% of its total token supply for this airdrop. It is also Binance Wallet’s first airdrop event in collaboration with a Bitcoin Layer2.

To participate in the event, users need to access the Binance Web3 Wallet and visit https://binance-campaign.bevm.io . There are three tasks included in the campaign, bridging $BTC to BEVM, creating position in Satoshi Protocol and daily check-in on BEVM.

User Participation Tutorial:

Step 1: Access and Set Up Binance Web3 Wallet

First, ensure you have a Binance account. If not, you will need to create one.

Then, download and install the Binance Web3 Wallet. This can be found on Binance’s official website.

After completing the installation, follow the instructions to set up your wallet.

Step 2: Participate in the Event

Access the event page using the Binance Web3 Wallet.

Complete the three tasks required by the event:

Bridge $BTC to BEVM: Follow the instructions on the page to bridge your $BTC from the main chain to the BEVM chain.

Create a Position in Satoshi Protocol: Navigate to Satoshi Protocol and create a new position.

Daily Check-in: Visit the BEVM page every day to check in.

Cryptocurrency

XRP Drops Following Ripple’s Latest Setback in SEC Legal Battle

Published

5 hours ago

June 27, 2025

TL;DR

US District Judge Analisa Torres has ruled against the SEC and Ripple in their joint motion filed earlier this year.
The legal case between the two, which started over four and a half years ago, has yet to reach a conclusive end despite Garlinghouse’s announcement in March.

JUST IN: Judge Torres has denied @Ripple and the @SECGov joint motion for an indicative ruling. pic.twitter.com/iPzD4aMG1H
— Eleanor Terrett (@EleanorTerrett) June 26, 2025

Recall that Judge Torres denied the joint motion filed by the two in May as well and set a new deadline for June 16 by which date Ripple and the agency had to refile by fixing all prior inconsistencies.

However, the latest update on the matter is another disappointment for both sides as the Judge has rejected the joint motion for an indicative ruling.

Ripple and the SEC had reached an agreement between each other, as the company had to pay a relatively minor penalty of $50 million, which is a lot less than what the agency initially sought ($2 billion) or the original ruling ($125 million).

Back in March, Ripple CEO Brad Garlinghouse triumphantly announced that the lawsuit had ended after over four years. However, the case continues, at least for now.

XRP’s price continues to drag as it has failed to capitalize on the overall market improvement in the past few days. The asset is down by over 3% on a daily scale, and trades well below $2.15.

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Cryptocurrency

Last Time Bitcoin Did This, the Price Went From $60K to $100K

Published

5 hours ago

June 27, 2025

Bitcoin (BTC) could be primed for a surge to $160,000, according to a key on-chain metric that foreshadowed two other record-breaking rallies.

This bullish outlook is emerging even as BTC battles volatility near $108,000, a psychological threshold tested amid geopolitical turbulence and conflicting accumulation patterns.

The Accumulation Blueprint

In his latest analysis, market watcher Axel Adler Jr. pointed out that Bitcoin’s Long-Term Holder (LTH) to Short-Term Holder (STH) ratio shows a very familiar accumulation pattern.

According to him, some of BTC’s most explosive rallies between 2023 and 2025 were preceded by sustained LTH/STH growth. One of the runs, which started when Bitcoin was trading around the $28,000 level, saw the king cryptocurrency go all the way to $60,000. Another LTH/STH ratio uptick provided enough momentum to push BTC from $60,000 to $100,000.

Adler has noted the same signal flashing at the $100,000 level:

“Today, at the $100K mark, we again see sustained growth in the LTH/STH ratio,” noted the expert. “This accumulation phase could last 4-8 weeks, after which, by analogy with previous cycles, a powerful upward reversal is likely.”

Applying a conservative 1.6x multiplier to Bitcoin’s current price, he projects a $160,000 target by the end of August.

Giving more credence to the outlook, prominent trader Titan of Crypto identified a bull flag formation on BTC’s daily charts, suggesting a potential breakout to $137,000. He added that the MACD indicator was also on the verge of a bullish crossover, a move often viewed as a trigger for price momentum shifts.

Technical and historical indicators also bolster Adler’s thesis. For instance, the Bitcoin Rainbow Chart places the crypto asset firmly in the “BUY” zone, a scenario comparable to November 2020, just prior to it setting off on a 450% ROI surge, and May 2017, before the same metric boomed 1,400%.

Market Outlook

This activity coincides with broader geopolitical and market forces. On June 25, Bitcoin briefly touched $108,000 following remarks by U.S. President Donald Trump on easing tensions in the Middle East.

Prices have since cooled slightly, with BTC changing hands at around $107,653 at the time of this writing. While a modest 0.7% gain in the last 24 hours, the price reflects a 1.8% monthly dip.

Still, the asset’s nearly 3% uptick in the last seven days puts its performance slightly ahead of the rest of the crypto market, which only managed to go up 1.6% in that period. However, the sideways movement saw BTC underperform versus tech stocks like Nvidia (+9.15%) and Oracle (+32.5%), raising questions about capital rotation.

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Cryptocurrency

Not Just TRUMP: MELANIA-Linked Wallets Offload Large Holdings Amid 98.4% Price Dump

Published

5 hours ago

June 27, 2025

TL;DR

The team behind the second meme coin linked to the First Family has also been disposing of a large portion of the token in the past several months.
According to on-chain data shared by Lookonchain, they have already sold more than 8% of the total MELANIA supply.

The #Melania meme team sold 82.18M $MELANIA(8.22% of total supply) over the past 4 months across 44 wallets, cashing out 244,934 $SOL($35.76M).
Most of the $MELANIA tokens were sold through adding and removing liquidity.https://t.co/EJYWtbB5aE pic.twitter.com/gtmRdkNq1y
— Lookonchain (@lookonchain) June 25, 2025

The post indicates that the team has cashed out over $35 million in MELANIA over the past four months from 44 wallets related to them.

Within this timeframe, the meme coin related to the FLOTUS experienced a massive price dump. It peaked at $8.5 hours after its launch but quickly started to lose value.

In the past 24 hours, the asset has plunged to $0.2, which represents a 98.4% price dump within just several months.

Thus, the MELANIA team has followed the example set by those operating the TRUMP token. CryptoPotato reported numerous times in the past that wallets linked to the POTUS meme coin had disposed of enormous portions of the token.

The most recent example was quite controversial as it came just hours before the US launched a missile attack against Iran, after which the entire crypto market turned red, including the TRUMP meme coin.

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