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GBM Auctions to Host Memorabilia Auction with Polkadot Creator Dr. Gavin Wood

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[PRESS RELEASE – London, United Kingdom, May 6th, 2024]

GBM Auction (https://gbm.auction), the Bid-to-Earn Auction company, is thrilled to announce a historic collaboration event with Dr. Gavin Wood, co-founder of Ethereum and the founder of Polkadot and Kusama, to commemorate the 10th anniversary of the publication of the Ethereum yellow paper and the recent release of the JAM grey paper.

This event will feature three auctions for iconic pieces of blockchain memorabilia, representing pivotal moments in the world of blockchain technology. The online auctions, hosted at https://gavinwood.gbm.auction are slated to commence on May 16th, 2024, during the ‘Decentralized Lugano’ conference in Switzerland and will run for seven days with the proceeds from these auctions supporting the DEC’s Ukraine Humanitarian Appeal: (https://www.dec.org.uk/appeal/ukraine-humanitarian-appeal).

This groundbreaking set of auctions will be hosted on the Moonbeam blockchain, a parachain on Polkadot, utilising Glimmer (GLMR), the native currency of the Moonbeam chain, for bidding.

The remarkable items to be auctioned are:

  • An Ethereum yellow paper annotated and signed by Dr. Gavin Wood, featuring the EIP-150 revision version crucially addressing the aftermath of the infamous 2016 DAO hack attack.
  • An original “Draft 1” version of the Polkadot white paper annotated and signed by Dr. Gavin Wood, presenting the vision for the Polkadot network protocol.
  • A “Draft 0.1.0 Dubai” unreleased version of the JAM Grey Paper annotated and signed by Dr. Gavin Wood, of which only 200 copies were ever made and gifted to his inner circle by Dr. Wood himself. This Grey Paper introduces a visionary step towards a more scalable, efficient, and dynamic blockchain network.

Each item represents a unique piece of blockchain history, personally annotated and signed by the author and luminary who coined the universally recognised term “Web 3.0”. The auctions will be run by GBM Auction, known for its innovative Bid-to-Earn system, which has revolutionised the auction experience for the blockchain space and seen over 70,000 auctions ho​​sted and $6M earned by bidders to date. GBM Auction’s Bid-to-Earn system incentivises participation by rewarding bidders when they are outbid. This unique approach ensures an engaging and popular auction experience, benefiting both sellers and bidders alike.

Hugo McDonaugh, co-founder of GBM Auction, expressed his enthusiasm for this unique opportunity to celebrate these three foundational steps in the journey of Ethereum, Polkadot and blockchain technology with this historic auction. “The Ethereum yellow paper laid the groundwork for a decentralised revolution that has reshaped industries and empowered millions worldwide. The Polkadot white paper introduced a vision for a scalable, interoperable multi-blockchain network, and the JAM grey paper addresses critical issues that have challenged previous decentralised systems with a new protocol facilitating a more connected and coordinated ecosystem”, said McDonaugh. “This auction is a tribute to the pioneers who contributed to Ethereum’s journey and a celebration of its enduring legacy ten years on”.

As a gesture of solidarity and support for those in need, Dr. Gavin Wood is donating the proceeds of the auction to the Ukraine Humanitarian Appeal of the Disasters Emergency Committee (DEC). The DEC provides essential assistance such as food, water, shelter, and healthcare to families in Ukraine and refugees in neighbouring countries. Known for its transparency, the DEC ensures that funds are utilised effectively to address the urgent needs of those affected by crises. GBM Auction invites esteemed technology and blockchain collectors to participate in this historic event while making a meaningful contribution to humanitarian efforts in Ukraine.

For more information about the auction and to find out how to participate, please visit https://gavinwood.gbm.auction

About GBM Auction

GBM Auction is the Bid-to-Earn Auction company. In a GBM Auction, there are only two outcomes, users either win the auction or they earn an incentive when they’re outbid. This model provides the best environment for bidders who get a rewarding and engaging experience whilst ensuring sellers get the true market value for their assets. GBM Auction has been active since 2018 and has seen over 70,000 auctions completed and $6m earned by bidders to date.

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Bitcoin’s (BTC) Bull Market Remains Intact Amid Temporary Slowdown: CQ

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Crypto assets declined as 2024 came to a close. Bitcoin’s post-election surge to over $100,000 had lost momentum. Entering 2025, the asset touched $97,000 but soon pulled back slightly.

However, the latest CryptoQuant analysis hints that BTC is still in the midst of a bull market. The current phase has been identified as a cooling-off period rather than the end of the cycle.

Momentary Slowdown

After Bitcoin’s price surpassed $108,000, a correction followed, which raised concerns about the possibility of an extended stagnation like the previous six-month retracement. Despite this, key on-chain data suggested a reassuring view of the market’s health.

In its report, CryptoQuant’s Adjusted SOPR (Spent Output Profit Ratio), which eliminates short-term noise by excluding transactions under an hour and employs a 7-day Simple Moving Average (SMA), remains above 1 but is trending downward. This suggests diminishing profits for participants but aligns with historical patterns, where SOPR dropping below 1 often triggers reversals in bull markets.

Similarly, the Miner Position Index (MPI) also shows a downward trend, with no indications of mass Bitcoin transfers to exchanges. Such a trend is indicative of the fact that miners, especially large firms, are holding their Bitcoin assets, although periodic sell-offs for operational expenses are expected.

Other metrics, such as total network fees, reflect reduced on-chain activity. This phase is further validated by declining funding rates, which have historically been precursors to Bitcoin rebounds, particularly during periods of negative sentiment.

Hence, the data collectively point to a temporary cooling-off period in the ongoing bull market. While reduced on-chain activity and declining metrics suggest a momentary slowdown, there is no substantial evidence pointing to a cycle peak.

Old Bitcoin Whales Selling Amid Institutional Buying

According to CryptoQuant CEO Ki Young Ju’s update, “old whales” are currently the sellers in the Bitcoin market. This is evidenced by high over-the-counter (OTC) volume and significant exchange deposits. However, he dismissed fears of a market crash, adding that these sales are unlikely to cause significant disruptions.

Ju also noted that buying pressure predominantly comes from US institutions, particularly through Coinbase. Despite this institutional interest, he pointed out that the daily premium on Coinbase is at a multi-year low, which means that the momentum has weakened. As such, a recovery in this premium is needed to support Bitcoin’s next leg up.

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SPX6900 Soars 35% as Meme Coins Continue to Rise, Meme Index Raises $1.6 Million

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With the new year officially underway, cryptocurrencies of all kinds are beginning to show bullish reversal signals.

Although we’re seeing steady positive momentum for most coins – Bitcoin and Ethereum are both up approximately 3% in the last day or so – plenty of double-bottom chart patterns are also forming, and some meme coins are breaking out early.

SPX6900 is one of today’s top gainers, surging by over 35% in the past 24 hours.

In this article, we’ll take a closer look at SPX6900’s price performance and another index-inspired meme coin project that’s already raised $1.6 million just a couple of weeks into its presale.

SPX6900 Hits New ATH

In the crypto world, the most entertaining outcome seems to increasingly be the most likely. SPX6900 ($SPX), a satirical token inspired by the S&P 500, has proven a perfect example – and has now entered a new phase of price discovery after exploding through its previous all-time high, and past its key resistance level of $1.

The token now sits at $1.26. Its price and market cap have risen by 35% in a day, with the market cap now at $1.17bn. Daily trading volume is up 179%, and sits currently at $118.16m.

This leaves SPX6900 up 92% on the monthly chart, and 16,953% up on its launch price.

From this point, we can expect some investors to begin taking profits. This will gradually form a top pattern, at which point this token’s next move will become clearer.

However, given that the wider market is still forming bullish patterns, it’s possible that SPX6900 could see its current pump continue at least for a few more days.

At the time of writing, both the Bitcoin and Ethereum charts are showing significant bullish signs with a pair of double bottoms.

So overall, crypto bulls have a lot to get excited about as we forge ahead into 2025. It looks like only a matter of time before we see new highs for Bitcoin, Ethereum, and other altcoins – and even more huge gains for SPX6900 holders.

Meme Index: Is This Presale Token the Next SPX6900?

Now that SPX6900 has proven itself as a meme project that the market is taking seriously, investors who spot the next big “meme index” token will be perfectly positioned to take advantage of the next stage of this increasingly popular narrative.

Appropriately enough, Meme Index ($MEMEX) has already emerged as a leading ICO project, and has raised over $1.6 million despite only launching its presale a couple of weeks ago.

The Meme Index platform enables MEMEX token holders to invest in a collection of “baskets” (meme coin indexes) through the platform’s innovative staking mechanism. The baskets each provide investors with exposure to different sets of meme coins, from mainstream tokens (held within the “Meme Titan Index”) to extremely volatile coins (via the “Meme Frenzy Index”).

This empowers meme coin investors with the ability to choose the amount of volatility they’re exposed to, while also providing a convenient alternative to holding and managing bags of individual meme coins.

MEMEX tokens are still available for a short time through the Meme Index presale (priced at $0.0148639 per token), and can be staked to generate passive income of up to 1,471% APY. The tokens will also provide holders with the ability to vote on future project developments (including the creation of new baskets) after Meme Index officially launches this year.

To discover more about the Meme Index project and join the presale, investors can click the link below:

Visit Meme Index Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

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Plume Network and Purpose for Profit Partner to Bring Onchain Funding to Affordable Housing Projects

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[PRESS RELEASE – New York, United States, January 3rd, 2025]

Plume Network, the first full-stack modular layer-1 blockchain focused on Real World Asset Finance (RWAfi), is thrilled to announce a partnership with Purpose for Profit (PFP), the world’s first on-chain endowment and tokenized credit fund dedicated to providing below-market-rate loans to businesses building quality affordable housing. This collaboration marks a pivotal step in democratizing financial opportunities while advancing sustainable and equitable development.

At the core of this partnership is a shared vision to leverage blockchain for greater transparency, inclusivity, and impact. PFP’s innovative model utilizes the blockchain to document all loans disbursed, payments received, assets under management, and token activities—both onchain and offchain. By doing so, PFP ensures transparency for investors and stakeholders.

Through PFP’s PURPOSE token, individuals can stake their way into impact investing by essentially taking a liquidity provider position. Token holders can earn a portion of revenues from interest on loans repaid, all without management fees or penalties for early exits. This accessible model empowers participants to support impactful ESG initiatives, starting with affordable and mixed-income housing projects that provide below-market-rate loans to businesses.

“Plume Network is proud to support Purpose for Profit in their efforts to merge blockchain innovation with meaningful, real world impact,” said Chris Yin, CEO and founder of Plume. “This partnership is a testament to the transformative potential of blockchain technology when aligned with shared values of sustainability, equity, and transparency.”

Together, Plume Network and Purpose for Profit aim to onboard over 1 million new participants from sectors like real estate, construction, non-profits, and philanthropy into Web3. This effort aligns with PFP’s mission to create a globally inclusive financial community, blending traditional cooperative principles with progressive decentralization powered by blockchain.

“Plume Network’s architecture is the foundation for the next phase of blockchain innovation, it enables solutions that will onboard the next wave of adopters. We’re excited to launch with Plume and bring RWA to the masses,” said Elizabeth Kukka, CEO of Purpose for Profit.

This partnership reinforces Plume Network’s commitment to fostering real world asset tokenization and creating a robust ecosystem for projects driving societal good. By integrating PFP into the Plume ecosystem, users will gain access to tokenized impact investing opportunities and transparent financial mechanisms, seamlessly merging the power of DeFi with tangible ESG outcomes.

About Purpose for Profit (PFP)

Purpose for Profit is the world’s first tokenized lending fund and on-chain endowment for ESG initiatives. Focused on affordable housing, PFP leverages blockchain to create a transparent, inclusive, and progressive model for impact investing.

Users can learn more at https://purposeforprofit.com/

About Plume Network

Plume is the first public blockchain purpose-built for RWAfi, enabling the rapid adoption and demand-driven integration of real world assets. With 180+ projects building on the network, Plume offers a composable, EVM-compatible environment for onboarding and managing diverse real-world assets. Coupled with an end-to-end tokenization engine and a network of financial infrastructure partners, Plume simplifies asset onboarding and enables seamless DeFi integration for RWAs so anyone can tokenize real world assets, distribute them globally, and make them useful for native crypto users.

Users can learn more at https://www.plumenetwork.xyz/ or contact press@plumenetwork.xyz.

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