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Cryptocurrency

Partisia Blockchain Propels Innovation with 25 Million MPC Token AirDrop Campaign

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[PRESS RELEASE – Zug, Switzerland, February 4th, 2024]

Partisia Blockchain, a pioneer in blockchain technology, is set to redefine engagement and foster community growth with the launch of its unprecedented 25 million MPC token AirDrop campaign. This strategic initiative comes ahead of the anticipated governance vote for MPC token transferability, marking a significant milestone in the company’s commitment to inclusivity and user empowerment within the blockchain ecosystem.

Brian Gallagher, Co-founder of Partisia Blockchain, expressed his enthusiasm for the AirDrop campaign, stating, “At Partisia Blockchain, we believe in breaking down barriers and providing opportunities for everyone to be part of the blockchain revolution. The 25 million MPC token AirDrop is not just a distribution of tokens; it’s an invitation for users to actively engage, contribute to network security, and explore the limitless possibilities of decentralized applications.”

Key Highlights of the 25 Million MPC Token AirDrop Campaign:

1. Hands-On Experience with Leading MPC and Blockchain Technology: Participants will gain firsthand experience with cutting-edge MPC and blockchain technology, positioning them at the forefront of innovation and technological advancement.

2. Active Contribution to Network Security: The AirDrop program encourages users to actively contribute to the security of the Partisia Blockchain network. By participating, users play a crucial role in fortifying the integrity and resilience of the blockchain ecosystem.

3. Exploration of Innovative dApps: Participants will have the opportunity to explore and experience a diverse array of innovative decentralized applications (dApps), contributing to the overall vibrancy of the Partisia Blockchain ecosystem.

Brian Gallagher emphasized the strategic importance of the AirDrop campaign, stating, “Our vision is not just about creating technology; it’s about creating a community-driven ecosystem where every participant has a voice. The AirDrop program is a testament to our commitment to decentralization and fostering innovation within our community.”

Strategic Implications and Future Developments

As Partisia Blockchain launches the AirDrop campaign, the company anticipates a surge in user engagement and contributions within its ecosystem. Gallagher acknowledged the significant growth witnessed in the past 12 months, with notable projects such as MetaNames and Blockchain-Ads contributing to the ecosystem’s diversity.

Partisia Blockchain sees the AirDrop program as a catalyst for the deployment of more dApps onto the mainnet, fostering collaboration and expanding the scope of new use cases. Users are encouraged to leverage the smart contract IDE, DApp playground, to deploy their contracts actively.

How to Participate

For detailed participation information, users can visit the official Partisia Blockchain AirDrop program webpage. Additionally, the company has set up a dedicated AirDrop Discord support channel to address any queries or concerns.

AirDrop Rewards Considerations

Bridge funds to your Partisia Blockchain wallet via BYOC bridge: Token amount considered. Gas spent on any blockchain transactions: Gas spent and daily active use considered.

The 25 Million MPC Token AirDrop program by Partisia Blockchain is a testament to the company’s commitment to fostering an inclusive and thriving blockchain ecosystem. As the industry evolves, Partisia Blockchain continues to lead the way in creating opportunities for all to actively participate in the future of blockchain technology.

About Partisia Blockchain

Partisia Blockchain is a leading innovator in blockchain technology, dedicated to creating privacy-preserving solutions that drive fairness and transparency. With a rich history of 35 years of rigorous research, Partisia Blockchain aims to future-proof solutions that address global challenges, ensuring a fair and secure distribution of benefits. The company prioritizes privacy and confidentiality while fostering accountable, transparent, and decentralized governance.

Users can learn more by visiting https://partisiablockchain.com/

Contact

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pr@bakedbyte.com

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Cryptocurrency

BTC Rejected Off $64,000 As Crypto Market Suffers $600 Million Of Liquidations

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The price of Bitcoin (BTC) experienced massive volatility on Wednesday, soaring to nearly $64,000 before sinking again to $60,500 within one hour.

Amid the chaos, crypto traders have experienced $638 million in liquidation over the past 24 hours, including $391 million of liquidations in the past 4 hours alone.

  • According to Coinglass, about $55 million of liquidations in the last hour impacted a consortium of little-known altcoins, while $96 million was liquidated on BTC trades directly.
  • Meanwhile, ETH traders suffered $45 million of liquidations, and DOGE traders lost $29 million.
  • In the past 24 hours, a massive 168,988 traders were liquidated. The largest single liquidation occurred on OKX on a BTC-USDT trade for $9.45 million.
  • The price of BTC is $61,400 at writing time, up 21% within the past five days alone.
  • Many credit the asset’s recent surge to the launch of several bitcoin ETFs last month.
  • BlackRock’s Bitcoin ETF – the largest of all newcomers – now holds over $8 billion in BTC, and absorbed a record $520 million of flows on Tuesday.
Bitcoin / USD. Source: TradingView
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Cryptocurrency

BlackRock Bitcoin ETF Smashes Daily Inflow Record, Ranks 2nd In United States

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BlackRock’s Bitcoin (BTC) ETF has cracked a new daily inflow record, helping push Bitcoin’s above $60,000 for the first time since November 2021.

The iShares Bitcoin Trust (IBIT) absorbed another $520 million on Tuesday, bringing the fund’s total flows since launch above $6.5 billion. Furthermore, thanks to Bitcoin’s rising price during that period, the value of the firm’s Bitcoin stash has appreciated to over $8 billion.

BlackRock Breaking Record

By comparison, Fidelity’s Bitcoin ETF now holds $5.6 billion in BTC, but absorbed a much smaller $126 million flow on Tuesday.

Meanwhile, Grayscale – IBIT’s largest competitor – suffered another $125 million of outflows. Though Grayscale still bears a significant lead in total assets at $25 billion, BlackRock’s ETF is slowly gaining ground against the incumbent fund due to its much lower management fee.

According to Bloomberg ETF analyst Eric Balchunas, BlackRock’s stellar inflow figure made it the number two ETF for inflows in the United States yesterday, only behind BlackRock’s iShares Core S&P 500 ETF (IVV).

“This means a good portion of that massive volume was new buying vs arb/algo,” Balchunas wrote to X on Tuesday.

The analyst also noted that individual trades for IBIT’s ETF surpassed those of both the SPY and QQQ. This suggests that a large component of buyers trading the ETFs are retail-based – an unexpected finding given the ETF’s popularity as an institutional trading ground.

Bitcoin ETFs And Surging Price

The price of Bitcoin has skyrocketed by over 25% in the past five days, now trading at over $63,000 at writing time. Many analysts credit its success to the launch of Bitcoin spot ETFs, which have collectively absorbed over $6.7 billion of flows since going live on January 11.

After 30 days, BlackRock and Fidelity’s Bitcoin funds had already broken records as the two most successful ETF launches in history based on flows. BlackRock also tapped a new daily high for trading volume on Monday, surpassing $1.3 billion and entering into the top 11 ETFs in the country by volume.

Bitcoin now approaches its all-time high of $69,000 USD, though, in some currency denominations, it has already broken its prior records. For instance, one BTC is now worth over 95,000 Australian dollars, compared to $87,000 at its peak in November 2021.

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Cryptocurrency

3 Catalysts That Suggest More Gains for Bitcoin After Price Broke $60K

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Bitcoin surged above $61,000 on Wednesday, marking its highest level since November 2021. The rally seems fueled by significant inflows into US-based spot Bitcoin ETFs.

With bullish momentum building, all eyes are on the leading crypto asset’s trajectory, and data suggest that it might be able to break its previously established all-time high of $69,045.

MVRV Ratio Signals Buying Opportunity

The MVRV Ratio, derived from dividing an asset’s market capitalization by its realized capitalization, serves as a pivotal metric in cryptocurrency trading. When below 1, it indicates most holders are at a loss, signaling a potential buying opportunity.

On the other hand, a rising ratio suggests increased profit-taking, potentially leading to selling pressure and market corrections.

Historically, an MVRV Ratio nearing 4 signaled market tops, though this threshold has decreased in each cycle. According to Intotheblock’s latest observation, the value stands at 2.22, essentially hinting at a bullish market that is not yet excessively overheated.

Bitcoin MVRV. Source: ITB
Bitcoin MVRV. Source: ITB

Subdued Retail Crowd

Despite Bitcoin’s remarkable price movement, current data suggests an absence of retail investors. While there has been a rise in the number of new addresses, Intotheblock said it is likely attributed to active market participants engaging with Ordinals.

However, new addresses have since declined and remain relatively consistent. The same pattern is observed with active addresses. Both Google trends and app store data show no significant surge in retail interest yet.

On-chain volume is gradually increasing, reminiscent of the early phases of the 2021 bull market, but it has not reached the frenzy levels seen during the peak.

This implies that institutional investors might be driving this phase, with attention focused on ETFs as potential accumulators.

Meanwhile, those monitoring altcoins are speculating on whether renewed retail interest will shift Bitcoin’s upward trend towards broader market movements. However, the upcoming halving could change this dynamic and push the crypto asset to a new peak.

Bitcoin Halving: A Major Catalyst

The analysis from ITB suggests that the upcoming Bitcoin halving in April typically triggers a surge in price according to historical patterns. However, in the current cycle, the price rally has occurred earlier than anticipated.

This deviation may imply that investors are aware of the potential impact of the halving and are adjusting their investments accordingly ahead of time. In short, these market players are anticipating and acting upon the expected price movement associated with the halving event well before it actually takes place.

Bitcoin Price History. Source: ITB
Bitcoin Price History. Source: ITB
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