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Base8 Launches User-Friendly, Bitcoin Neobank and Opens Crowdfunding Campaign on Republic

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[PRESS RELEASE – New York, USA/NY, October 24th, 2024]

The roadmap features L2 payments, trading, and DeFi, with a UX that adopts Satoshis (SATs), Bitcoin’s more intuitive smallest denomination.

Base8, a Bitcoin Layer 3 platform for mobile, is proud to announce its official launch, bringing a seamless, easy-to-use solution to the world of cryptocurrency. Built for new and experienced users, Base8 will integrate Bitcoin Layer 2 (L2) solutions like the Lightning Network for fast payments, Babylon for Bitcoin staking, and Stacks for Bitcoin DeFi. Additionally, the app is one of the first to support SATs (Satoshis), and already offers trading in 35+ other liquid tokens, making Bitcoin utility and crypto investing more accessible to everyday users.

A Bitcoin Neobank for the Digital Economy

Base8’s vision extends beyond simple crypto investment. The platform is evolving into a universal digital banking solution for Bitcoin that merges centralized investing with decentralized finance (DeFi) and utility. With its focus on SATs and commitment to supporting native Bitcoin L2s, Base8 offers users a simple and secure way to invest, manage, and use crypto assets, with all the advantages of Bitcoin’s decentralized settlement layer, aka the blockchain.

“Bitcoin is meant to be so much more than just an asset to buy and hold, yet that’s how the majority of the two hundred million people use it,” said Alex Shapiro, Co-Founder and CEO of Base8. “We’re building Base8 to deliver on Bitcoin’s full potential by making the user experience simple while handling the complex decentralized integrations under the hood.”

Simplifying Bitcoin with SATs

Base8 features SATs (Satoshis), the smallest denomination of Bitcoin, to help users trade, invest, and manage their assets without the confusion of decimals. The app’s intuitive design, combined with institutional-grade security and custody, makes it one of the most secure and practical platforms for retail investors. Users can fund their accounts with ACH, SEPA, debit/credit cards, and crypto deposits, allowing them to instantly participate in the crypto economy.

Crowdfunding Campaign on Republic

Along with its launch, Base8 has gone live with a $1.24M crowdfunding campaign on Republic, and plans to raise a total of $3.5M in their seed round, which follows a successful $500k pre-seed raised in 2023. With a waitlist of over 31,000 users and nearly 1,000 beta testers, the campaign offers an opportunity for early supporters and crypto enthusiasts to participate in building a project focused on accessibility and the future of Bitcoin.

“Base8 is more than just an app—it’s a movement to make Bitcoin practical. By joining our crowdfunding campaign, you can be a part of our growth and help shape the coming Bitcoin economy” added Mohamed Saidi, Co-Founder and Chief Strategy Officer of Base8.

Funds from the campaign will be used to enhance Base8’s core tech offerings and L2 integrations, as well as user acquisition initiatives. Planned releases for 2025 include a Bitcoin Lightning wallet, a debit card with Apple NFC, and decentralized features such as staking, yield generation, and cross-chain swaps. These features will transform Base8 into a comprehensive, all-in-one platform that integrates both centralized and decentralized services, offering users the best of both worlds.

About Base8

Base8 is a next-generation Bitcoin Layer 3 platform designed to make Bitcoin utility more accessible to everyday users. With a focus on simplifying Bitcoin transactions and offering a user-friendly experience, Base8 integrates key features like SATs (#StackSATs), Layer 2 solutions, and institutional-grade security, creating a seamless entry point for both retail and institutional investors. Base8 believes Bitcoin should be used as originally intended – as the digital money of the future.

Base8 Website: https://base8.app/

Users can download the Base8 App: Apple Store | Google Play Store

Users interested in investing in Base8 on Republic can do it here.

For press inquiries or more information, contact: team@base8.app

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Cryptocurrency

3 Possible Reasons Behind Ripple’s (XRP) 15% Surge Past $1.6

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Ripple’s native token has been among the best performers in the crypto market in the past few days, surging by over 60% since last Saturday. Despite retracing below $1.6, it reached that level for the first time since May of 2021.

Here are some of the possible reasons behind this impressive increase.

XRPUSD. Source: TradingView
XRPUSD. Source: TradingView

WisdomTree’s Ripple ETP

The Europe-based crypto asset manager WisdomTree has launched its latest exchange-traded product tracking the performance of a certain cryptocurrency, this time Ripple’s XRP.

The announcement reads that the WisdomTree Physical XRP ETP, with the ticker WXRP, is already live for trading on SIX Swiss exchange in USD and Swiss francs, on Euronext Amsterdam in USD, and on Xetra and Euronext Paris in euros.

“With risk-on sentiment building, altcoin exposures like XRP could outperform a standard bitcoin and ether allocation. XRP can sit alongside these mega caps in a multi-asset portfolio and reduce investors’ exposure to a single token.

Cryptocurrencies represent more than 1 per cent of the market portfolio, and should, therefore, be a component of a well-rounded investment strategy. As an asset class with low correlation to traditional asset classes, crypto can help enhance diversification and potentially improve risk-adjusted returns in a multi-asset portfolio.” – Commented the company’s Digital Assets Research Director, Dovile Silenskyte.

Gensler’s Exit

Perhaps the most valid reason behind XRP’s increase to over $1.6 earlier today is the hype by Gary Gensler’s announcement from Thursday evening. At the time, the current SEC chair said he would leave his position on the day the president-elect, Donald Trump, is inaugurated on January 20, 2025.

Although the move was expected, given Trump’s previous promise to fire Gensler on day 1 and the fact that SEC chairs have typically left their positions after a change in the presidency, it still sent shockwaves in the crypto industry.

Due to the four-year battle between the agency and Ripple, the latter’s native token skyrocketed by over 25% within the first 12 hours after the news broke. XRP went from about $1.15 to over $1.4. However, its rally continued on the next day, as mentioned above, and Gensler’s exit remains a highly plausible reason.

Regulatory Change and ETF Hopes

Gensler quitting the SEC is only a part of the overall wave of changes that will hit the US regulators after the Republicans take office. Reports are emerging frequently these days claiming that Trump has picked pro-crypto candidates for numerous key positions in his upcoming administration.

This is also regarded bullish for the entire market, which has added more than $1.2 trillion since the elections on November 5. XRP is no exception as, alongside other assets like Solana (SOL), is expected to have its own exchange-traded fund in the US. There have been a few filings with US regulators since September and experts believe the resolution could be just months away.

With a more favorable guard at the SEC, that resolution could be quite positive for the XRP army. After all, Ripple’s CEO has frequently noted that an XRP ETF is ‘inevitable.’

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Here’s What Users Expect as Donald Trump Begins Tenure as Crypto President: Bybit

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It’s been barely a few weeks since the pro-crypto candidate Donald Trump won the United States presidential elections, and the digital asset market still feels the impact of that victory. As the Trump administration prepares to take complete charge of affairs at the White House by January, crypto users anticipate what this could mean for the industry.

According to a quarterly institution report by the digital asset exchange Bybit and the crypto research firm Blocks Scholes, market participants are expecting a transformative period in the industry, with a focus on areas like heightened institutional interest, regulatory reforms, and increased value for bitcoin (BTC) and altcoins.

Trump to Provide Regulatory Clarity

Trump was previously a crypto skeptic, but he eventually turned around and centered his 2024 campaign on advocating for BTC. The U.S. president has declared that he would create clear policy and regulatory frameworks for digital assets to ensure the United States takes a leadership position in the crypto space.

Bybit and Blocks Scholes said Trump’s re-emergence as America’s first crypto president could foster an environment more conducive to innovation. Trump wants to make the U.S. the crypto capital of the planet, and his goals align with those of digital asset stakeholders.

The crypto space will likely see significant regulatory changes with a Republican majority in both chambers of the U.S. Congress. The Bybit report revealed that targeted political spending by crypto entities during the election reshaped legislative priorities, especially in key Senate races.

As pro-crypto lawmakers take office, bills like the Financial Innovation and Technology for the 21st Century Act (FIT21 Act), which aimed to provide regulatory certainty for digital assets, could be enacted into law. The bill faced legislative challenges while passing Congress chambers.

Favorable Environment For Altcoins And DeFi

Furthermore, Trump’s win increases the potential for altcoins to gain traction even as BTC continues to dominate the market narrative. The incoming administration may cause investors to show fresh interest in the decentralized finance (DeFi) sector and networks powered by smart contracts.

The Biden administration took an unfavorable stance toward DeFi and even took legal action against some decentralized entities. However, as regulatory clarity emerges, Trump’s presidency could attract increased investment in these platforms.

Meanwhile, BTC has already gained over 47% since Trump won. With the cryptocurrency about 2% away from the $100,000 mark, traders are optimistic of a continued rally in the coming months.

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Cryptocurrency

Double-Digit Price Surges From These Altcoins as BTC Was Stopped Before $100K (Weekend Watch)

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Bitcoin tried and tried to break into a six-digit price territory but was stopped just inches below $100,000 and has been pushed south by around a grand.

Its dominance over the alts has slumped in the past day, as many, such as DOGE, ADA, AVAX, and DOT, have charted double-digit surges.

BTC Fails at $100K

Bitcoin had a highly positive business week, which started with a price surge to over $90,000 on Monday. After a brief retracement, the bulls returned and helped BTC chart a new all-time high of $94,000 on Tuesday.

However, that was just the start as the asset kept climbing and broke above $95,000, $96,000, $97,000, $98,000, and $99,000 by Friday.

Naturally, all eyes turned to the coveted $100,000 target, which many speculated could be broken immediately. However, the bears managed to defend that level well. As such, bitcoin failed to overcome it on Friday, even though it came just $250 away from it.

Since then, the cryptocurrency has corrected slightly and now sits below $99,000. Nevertheless, its market cap is still above $1.950 trillion, placing it as the seventh-largest asset in the world, but its dominance over the alts has taken a big hit and is down to 56% on CG.

Bitcoin/Price/Chart 23.11.2024. Source: TradingView
Bitcoin/Price/Chart 23.11.2024. Source: TradingView

Alts on the Rise

The declining BTC dominance means only one thing – alts are exploding. While that cannot be said about ETH, SOL, and BNB, other larger caps have charted mind-blowing surges in the past day.

As already reported, these include XRP, DOGE, and ADA, all of which have shot up to multi-year peaks. The landscape is similar for Avalanche and Polkadot, as they have skyrocketed by 22% each. AVAX now sits close to $44, while DOT is near $7.5.

Even more notable surges come from XLM (52%), ALGO (33%), and VET (31%).

The total crypto market cap reached a new all-time high earlier at over $3.5 trillion on CG.

Cryptocurrency Market Overview. Source: Coin360
Cryptocurrency Market Overview. Source: QuantifyCrypto
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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.

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