Cryptocurrency
eTukTuk: How the Tesla of Developing Nations Revolutionizes the EV Sector Using AI & Blockchain
![](https://letizo.com/wp-content/uploads/2024/02/etuktuk-how-the-tesla-of-developing-nations-revolutionizesthe-ev-sector-using-ai-blockchain_65be939c26aa0.jpeg)
Investing in the EV sector can be regarded as investing in the future of Earth. But eco-conscious initiatives can be incredibly lucrative in terms of financial returns, too.
If they have the potential for mainstream adoption, sustainability projects can bring attractive profits to early investors. A good example is eTukTuk – an electric vehicle ecosystem crafted to transform the TukTuk public transportation sector in developing economies.
Tesla of Developing Economies
eTukTuk puts forward an innovative cryptocurrency initiative with the goal of dismantling the obstacles hindering the widespread adoption of electric vehicles (EVs). Although there are numerous EV projects that operate with a broad scope, eTukTuk strategically narrows down its focus on emerging economies.
Its approach proves highly effective, given the prevalence of EV platforms catering to developed economies. Due to their substantial investment costs, these platforms are inaccessible to individuals from poor and middle-class backgrounds.
The financial barrier stands in the way of the mass adoption of EV technologies, posing challenges to fighting global issues such as climate change and air pollution. To implement meaningful solutions, we need initiatives that transcend geographical and financial borders.
eTukTuk As a Catalyst for Change
eTukTuk empowers the electric vehicle (EV) sector to permeate developing economies. It assists the transition of public transportation in these nations toward green technologies powered by electricity.
This is achieved by strategically focusing on optimization by targeting TukTuks, a widely used mode of public transportation. Beyond their accessibility, TukTuks are also notorious as significant contributors to air pollution in developing nations. The focused approach enables eTukTuk to make a substantial and positive impact in the EV sector.
eTukTuks are electric adaptations of traditional TukTuks that feature green technology alongside integrated AI and blockchain functionalities. On the financial front, eTukTuk drivers stand to significantly increase their income, up to 400% more, compared to driving an ICE TukTuk.
Beyond environmental focus, these vehicles provide drivers with compelling incentives and advantages.
- Reduced operational and maintenance costs compared to their Internal Combustion Engine (ICE) counterparts. Thanks to the project’s meticulous 5-year research and development process, the efficient design requires only 200 components.
- Local manufacturing slashes acquisition costs for drivers.
- eTukTuks grant access to AI features that optimize routes, alleviate traffic congestion, and minimize fuel consumption.
- Predictive maintenance enhances the lifespan of eTukTuks. The AI system can anticipate potential issues ahead of time, allowing timely interventions.
eTukTuk’s self-sufficient ecosystem takes advantage of a blockchain-based peer-to-peer payment network and an extensive network of electric vehicle (EV) charging stations. They are powered by the native $TUK tokens.
Community and Incentivization
$TUK tokens form the backbone of the incentivization scheme, serving as a means to democratize investment opportunities within the EV sector. It departs from the traditional limitations that typically favor large-scale investors and opens up investment avenues for global participants.
The native token creates a seamless ecosystem for drivers, including those not operating the eTukTuk fleet. EV drivers can use $TUK for charging payments, with a portion directed to a reward pool. The rewards are distributed among Territory Partners and Power Stakers.
When it comes to tackling the infrastructure challenges in developing economies, eTukTuk has strategically positioned and managed a network of charging stations. They are overseen by Territory Partners. The security of the payment network falls under the responsibility of Power Stakers. They also give access to a lucrative source of digital income.
Another dimension to the ecosystem is added by the upcoming play-to-earn game, which is styled on the popular Crazy Taxi. It caters to gamers, offering an additional source of income and contributing to the platform’s inclusivity and societal impact.
Together, all ecosystem participants foster a collaborative and automated network.
A Financial and Social Investment
eTukTuk is designed to broaden the impact of the electric vehicle (EV) industry across the world, beyond developed economies.
eTukTuk embraces the innovations of cryptocurrencies and blockchain to position itself as a radical force in the EV sector. Alongside, it enriches the lives and livelihoods of online and offline ecosystem participants.
Leading up to the official exchange launch of $TUK tokens, investors have the opportunity to grab discounted prices during the limited presale period. It offers attractive staking benefits in three-digit APYs. Staking, in addition, dampens the risk of early sell-offs that plague new crypto projects. It encourages investors to hold on to their tokens for higher long-term returns, which, in turn, strengthens the price action.
With sustainability and climate action growing more popular than ever, eTukTuk has high market relevance. The project has the potential to attract the attention of traditional investors to the crypto sector.
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Cryptocurrency
Top 10 Solana (SOL) Ecosystem Projects by Development Activity
![](https://letizo.com/wp-content/uploads/2024/09/top-10-solana-sol-ecosystem-projects-by-developmentactivity_66dc47b18afea.jpeg)
TL;DR
- Due to recent growth, Solana and its projects have gained popularity.
- Ecosystem meme coins like Dogewifhat (WIF) and Bonk Inu (BONK) have seen significant declines after a substantial surge earlier this year.
The Unsurprising Leader
Solana and numerous projects built on it have brimming in popularity in 2024. Some factors that could have contributed to this might be SOL’s bull run at the end of 2023 and the beginning of 2024, the growing community, and innovations in the ecosystem.
The crypto analytics platform Santiment recently outlined the top 10 Solana-based projects in terms of development activity in the past 30 days.
Somewhat expected, the first spot belongs to Solana itself, which collected a score of 186.33. It is worth noting that the protocol’s native token – SOL – has been experiencing a downfall since the end of July, plunging by approximately 30% and currently trading at around $127 (per Coingecko’s data).
Wormhole holds the second position with a ratio of 90.5. It acts as a bridge connecting various blockchain networks, such as Solana, Ethereum, BNB Smart Chain, and others. It enables users to transfer digital assets and data across these blockchains without a centralized intermediary.
Pyth Network is third, with a score of 68. It operates as a decentralized oracle network where multiple providers contribute to a collective data feed.
JITO and Neon round up the top 5 list. The other Solana-based projects down the line include Drift, Orca, Helium IOT, Helium Mobile, and Metaplex.
The Missing Ones
It is interesting to note that meme coins, which are part of Solana’s ecosystem, did not make the list. Such tokens, including dogwifhat (WIF), Bonk Inu (BONK), and many more, were among the top-trending topics in the crypto space at the start of the year due to their skyrocketing prices.
However, their progress has stalled as of late. WIF – the biggest Solana-based meme coin in terms of market capitalization – currently trades at around $1.52, representing more than a 70% decline from the ATH registered in April.
BONK (the second-largest) is worth approximately $0.00001666 as of the moment, or 60% less than the peak in May.
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Cryptocurrency
These Altcoins Bleed Out as Bitcoin (BTC) Price Fell by $4K in Hours (Weekend Watch)
![](https://letizo.com/wp-content/uploads/2024/09/these-altcoins-bleed-out-as-bitcoin-btc-price-fell-by-4kin-hours-weekend-watch_66dc47b73b311.jpeg)
Bitcoin’s nosedives continued in the past 24 hours as the asset slumped from an intraday high of $57,000 to under $53,000 within hours.
The altcoins are also in the red, and the total crypto market cap has dumped to $2 trillion for the first time in over a month.
BTC’s Troubles Keep Coming
The primary cryptocurrency lost the coveted $60,000 level last week, and the true downfall followed suit. Aside from a brief attempt to overcome that line on September 3, the bears have been predominantly in control, which culminated yesterday.
Before that, it was rejected a couple of times and marked lower daily highs. A relief rally came on Friday when the US released the job report for August, which showed that there was a slight decline in the unemployment rates.
BTC reacted quickly with a price increase from $55,500 to $57,000. However, that turned out to be a false breakout, and the cryptocurrency headed south immediately after. In a matter of minutes, it plummeted to $54,000 before the bears initiated another leg down that pushed it to a monthly low of $52,700 (on Bitstamp).
Despite recovering to just over $54,000 now, it is still 4% down on the day and more than 8% in the past seven days. Its market cap has plunged to $1.070 trillion, while its dominance over the alts is down to 53.5%.
Alts in Red Yet Again
The bearish scenario repeated once again, and the altcoins are back in red. Ethereum is among the leaders in this adverse trend, having lost over 4% of value. As a result, it now struggles at $2,250. BNB is down by 3%, XRP by 3%, and SOL by 2.5%.
DOGE has dumped the most from the larger-cap alts. The OG meme coin has seen 5% of its value evaporate over the past day and is below $0.1.
Further losses come from the likes of TON, BCH, SHIB, LTC, OKB, XMR, and many others.
The total crypto market cap has declined by another $50 billion and is down to $2 trillion on CG.
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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.
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Cryptocurrency
Vitalik Buterin Pledges L2 Tokens to Support Public Goods in the Ethereum Ecosystem
![](https://letizo.com/wp-content/uploads/2024/09/vitalik-buterin-pledges-l2-tokens-to-support-public-goods-inthe-ethereum-ecosystem_66dc47bce1201.jpeg)
Ethereum co-founder Vitalik Buterin has pledged to donate all Layer 2 (L2) tokens he holds to support public goods within the Ethereum ecosystem or broader charitable causes.
This announcement comes a few days after accusations that he had sold millions in Ether (ETH) for personal gain.
Vitalik Buterin Denies Profit Motive
Buterin was quick to respond to the allegations, emphasizing that he has not sold any ETH for personal profit since 2018. Instead, he clarified that any proceeds from his ETH sales have been directed toward projects that contribute to the Ethereum ecosystem or other charitable initiatives.
In a September 5 update, he expanded on his stance, pledging to donate all L2 tokens he holds, including not-yet-liquid assets, to support similar causes.
He wrote, “All proceeds will be donated, again either to support public goods within the Ethereum ecosystem or broader charity (e.g., biomedical R&D). I also do not intend to invest into L2s or other token projects in the foreseeable future.”
He explained that his aim in funding projects is to support initiatives he believes are important, particularly in situations where other parts of the ecosystem may not fully recognize their value.
The Allegations
On August 30, an X user accused him of selling over $2 million worth of ETH shortly after posting a positive update about Ethereum’s future.
Later on, Lookonchain also revealed that Vitalik had transferred 800 ETH, worth around $2 million, to a multi-signature wallet. Shortly after, the wallet swapped 190 ETH for 477,000 USDC.
Further analysis from Lookonchain indicated that on August 9, he had moved an additional 3,000 ETH, valued at over $8 million, to the same multi-sig wallet.
These transfers fueled speculation that the Ethereum co-founder was liquidating his Ether holdings to realize profits.
Buterin had previously disclosed that his entire Ether holdings came from the Ethereum pre-mining period, which allocated 11.9 million ETH (about 10% of the total supply) to early contributors. As one of them, he received 700,000 ETH for his role in the network’s creation.
According to blockchain tracker Arkham Intelligence, his current holdings amount to approximately 240,000 ETH. This is a reduction of around 460,000 ETH from his initial stash.
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