Cryptocurrency
U2U Network’s December Listing: Pioneering a Comprehensive Blockchain for DePIN
PRESS RELEASE – Ho Chi Minh, Vietnam, December 10th, 2024]
U2U Network, a leading DePIN Layer-1 platform, has announced the closure of all funding rounds in preparation for its upcoming listing scheduled for Q4 2024.
The Foundation
The global blockchain market has experienced growth, valued at $20.22 billion in 2023 and projected to reach $561.38 billion by 2030 with a CAGR of 64.5%. Initially developed to support cryptocurrencies like Bitcoin, blockchain has evolved into a transformative technology, revolutionizing industries such as finance, healthcare, and supply chain management with enhanced transparency, security, and efficiency.
Building on this foundation, DePIN is redefining how infrastructure systems operate by integrating blockchain with physical assets. By 2023, DePIN had grown to include 650 projects with a market cap of $35 billion, and experts project its market potential to expand to $3.5 trillion by 2028, underscoring its transformative capacity.
Amid the rapid expansion of the blockchain and DePIN markets, U2U Network has announced its upcoming listing, a strategic move designed to further accelerate market growth and development.
U2U Network – A Leading DePIN Layer1, Closed All Funding Rounds With $13.8M, Getting Ready for Listing
U2U Network is at a pivotal moment in its development, aiming to enhance user experiences within the decentralized ecosystem. Through its comprehensive application, U2U Network serves as a centralized hub, enabling users to interact seamlessly with various integrated DePIN projects. This approach simplifies the process, removing the need for multiple app downloads and reducing complexity. Additionally, it provides a platform for projects to integrate their mini-apps, improving visibility and creating opportunities for collaboration within a unified ecosystem.
Recently, U2U Network secured $13.8 million in funding from notable venture capital firms, including KuCoin Ventures, Chain Capital, IDG Blockchain, Cointelegraph, V3V, JDI Ventures, Tesseract, IBG, Blockhive, Maxx Capital, UB Ventures. This funding is allocated to advancing its modular Layer-1 blockchain, which features DAG technology and EVM compatibility, addressing key challenges in scalability and interoperability. U2U’s innovative subnet technology supports the creation of scalable, flexible sub-networks, tailored to meet the needs of DePIN development.
As the DePIN industry grows, reflecting broader trends like the integration of blockchain into everyday applications, U2U Network focuses on advancing scalable hardware solutions for real-world use. This approach seeks to streamline adoption across sectors, contributing to the development of the DePIN ecosystem and fostering innovation in decentralized infrastructure.
Looking Ahead: Preparing for the Listing Season
U2U Network’s upcoming listing represents a significant milestone in its trajectory. This step will provide greater visibility, broaden the investor base, and support community expansion, furthering the network’s efforts to deliver practical, decentralized infrastructure solutions.
Exclusive Listing Details
Expected Date: 10 AM (UTC), December 10, 2024
Listing Platforms: Kucoin, Gate.io, BingX and MEXC. More listing partners will be announced soon
For IDO Participants on Fjord: Users will receive U2U ERC-20 tokens on the Ethereum network and can deposit them for trading on Exchanges, please check which exchanges support the deposit of U2U ERC-20 Token. U2U ERC-20 tokens will be available on both CEXs and DEXs.
Users will receive U2U tokens on the ERC-20 network and can deposit them for trading on KuCoin.
Gate.io, MEXC, and BingX only support U2U native token
Token Utility
Transaction Fees: Used to pay gas fees for transactions and smart contract interactions.
Staking & Security: Locked by validators or delegators to secure the network and earn rewards.
Governance: Enables holders to vote on protocol upgrades, network changes, or DAO decisions.
Incentives & Rewards: Rewards users for behaviors like liquidity provision, governance participation, or network development.
DeFi Collateral: Serves as collateral for loans, liquidity pools, and other financial products.
DApp Utility: Powers services, premium features, or specific use cases within decentralized applications.
Subnet Operations: Subnet Node Operators pay Verification Nodes with tokens for interactions between Subnet and Layer 1.
Tokens can be used as payment currency, hiring resources from Subnet Node Operators, or pay for services on Subnet dApps
Token Allocation:
Token distribution:
Ethereum: 1,000,000,000 U2U
U2U Mainnet: 9,000,000,000 U2U
U2U Network’s upcoming December listing marks a significant step in its journey within the DePIN ecosystem. By offering a unified platform and leveraging advanced technology, U2U Network aims to address key industry challenges, support adoption, and contribute to the evolution of decentralized infrastructure.
REF:
- Research, H. (2024) DePIN: Current State and prospects, Medium. Available at: https://htxresearch.medium.com/depin-current-state-and-prospects-ad6b1a59b3d4#:~:text=As%20of%202023,according%20to%20Messari (Accessed: 07 December 2024).
About U2U Network:
U2U Network is a modular L1 with subnet technology that perfect fit for DePIN. Their backers include Chain Capital, IDG Capital, Cointelegraph, JDI Ventures, Kucoin Venture, V3V Fund, Web3Port, and others. The project has also entered into partnerships with AWS, Klaytn Foundation, IoTex, Waterdrip Capital, Chain Catcher, etc. KOLs that have invested in U2U Network are KongBTC, Romano, ImNotTheWolf, Crypto Buzz, Antony, etc.
Mainnet is ready with more than 180K wallet addresses. DePIN Subnet launched with U2DPN product with more than 155K downloads, 59K contributer nodes, and 9K DAU in 3 months of launching. 80 dApps committed to building on chain (EVM-compatible) range from crypto applications (Defi, Gamefi, SocialFi, etc) to real-world scenarios (Storage, data mining, etc), and over 40 DePIN project signed MOU and under integration, 25 other projects in the pipeline.
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Bitcoin’s price has tumbled to a low of around $103,700 over the past couple of hours.
At the time of this writing, BTC has pulled back to around $104,100, bringing the total liquidations across the derivatives market to around $844 million, according to Coinglass.
Over the past one hour alone, the liquidated BTC positions surpassed $226 million, where a whopping $220 million of that were longs.
This comes as broader stock markets also chart notable declines. The S&P 500, Nasdaq, and the Small Cap 2000 are all down by more than 1%, while the DJI is down by 0.6%, at the time of this writing.
The drop comes amid escalating tensions between the US and China. Donald Trump said that China has “violated” the agreement, ending his post on Truth Social in a way that promises retaliation. It appears that the markets are bracing for it.
Meanwhile, China responded, urging the US to “immediately correct its erroneous actions, cease discriminatory restrictions against China and jointly uphold the consensus reached at the high-level talks in Geneva.”
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With Bitcoin trading below $106,000, some participants are opting to cash out partial holdings, looking to lock in profits amid the crypto asset’s impressive price performance in the past month or so.
While this raises concerns of early signs of a trend reversal, new data revealed the sustainability of the rally.
NRPL Signals Continued Optimism
According to CryptoQuant’s latest analysis, the Net Realized Profit/Loss (NRPL) metric shows that while BTC investors are realizing some profits following the recent price surge, the scale of these sales remains modest compared to past market peaks.
The current level suggests a possible short-term correction, but not one strong enough to reverse the broader bullish trend. In contrast to the significant NRPL spikes seen during previous cycle tops in March and November 2024, the present level of profit-taking is relatively low. This indicates that most investors are still holding rather than selling in large numbers.
Based on this analysis, there is little evidence to suggest the upward cycle is ending. The current market behavior points to continued strength in Bitcoin’s rally, with no clear signs of a transition into a downtrend.
Whale Buys and BCMI Jump Support Accumulation Thesis
Accumulation trends among certain major Bitcoin holders are becoming increasingly evident. For instance, addresses holding between 1,000 and 10,000 BTC, excluding exchanges and miners, are increasing, indicating large holder accumulation. This trend reflects growing investor confidence, which has historically been associated with rising Bitcoin prices.
In fact, in the last 48 hours alone, whales have bought over 20,000 BTC, according to an update shared by crypto analyst Ali Martinez.
Additionally, CryptoQuant’s BCMI has climbed sharply, with the 7-day SMA reaching 0.6 by May 29th – an early signal of potential market upside. The 90-day SMA remains at 0.45, which is indicative of a stable and non-overheated environment.
This composite index includes metrics like MVRV, NUPL, SOPR, and sentiment indicators to assess cycle positioning. With profit realization slowing and stronger on-chain signals emerging, the market may be entering the early stages of an accumulation phase.
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TL;DR
- BTC whales have returned in full force, accumulating more than $2 billion worth of the cryptocurrency in a short timeframe.
- The rising exchange outflows and other essential factors are also bullish factors, suggesting that the asset’s price may head north soon.
Whales Filled Their Bags
The renowned analyst Ali Martinez unveiled on X that large investors scooped up more than 20,000 BTC in the past two days alone.
Whales have bought over 20,000 #Bitcoin $BTC in the last 48 hours! pic.twitter.com/cCmQOpUV8X
— Ali (@ali_charts) May 29, 2025
According to Martinez’s chart, the collective bitcoin holdings of this investor cohort are just north of 4.7 million assets, which represents around 23.7% of the circulating supply.
Accumulation from whales is generally viewed as a bullish factor that may be a precursor of a price rally. It shows that such investors have increased their confidence in the asset, which could encourage smaller players to join the bandwagon as well.
Numerous X users reacted to the post, with some assuming that Michael Saylor could be among the individuals contributing to the buying spree. The company he co-founded has become the world’s largest corporate holder of bitcoin, while he personally owns over 17,000 BTC, as he confirmed last year.
Additional Bullish Elements
The aforementioned actions of the whales are not the only factor suggesting that the price of BTC could be on the verge of a rally. Over the past month, the supply of the asset on exchanges has dried up. Ali Martinez revealed that 30,000 BTC had been moved off centralized platforms within the timeframe, while the chart below shows that the exchange netflows were positive in only seven out of the last 30 days.
This suggests a shift from these entities toward self-custody solutions, which reduces the immediate selling pressure.
Bitcoin’s Relative Strength Index (RSI) should also be taken into account. The momentum oscillator measures the speed and magnitude of recent price changes and varies from 0 to 100.
When the ratio drops below 30, it typically indicates that the asset may be oversold and could be poised for a resurgence. Conversely, anything above 70 is interpreted as a bearish element. Over the past several hours, the RSI has been on a downward trend, currently standing just north of the lower mark.
Those willing to observe additional factors that may trigger enhanced volatility in BTC’s price in the short term can refer to our dedicated article here.
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