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Cardano and Two Additional Altcoins Showing Higher Chances of Liquidation-Fueled Rallies, According to Analytics Firm Santiment

Cardano and Two Additional Altcoins Showing Higher Chances of Liquidation-Fueled Rallies, According to Analytics Firm Santiment

Odds of a big rally for Ethereum (ETH) rival Cardano (ADA) and two other altcoin projects are rapidly increasing, according to the crypto analytics firm Santiment. Santiment reports that ADA, fan engagement token Chiliz (CHZ) and ETH rival Fantom (FTM) are facing negative funding rates, setting the stage for short squeezes. “When selecting altcoins, pay […]

The post Cardano and Two Additional Altcoins Showing Higher Chances of Liquidation-Fueled Rallies, According to Analytics Firm Santiment appeared first on The Daily Hodl.

Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Crypto Whales Abruptly Accumulate Ethereum-Based Altcoin Sending Volume to Highest Level in 22 Months: Santiment

Crypto Whales Abruptly Accumulate Ethereum-Based Altcoin Sending Volume to Highest Level in 22 Months: Santiment

Crypto whales have been gobbling up an Ethereum (ETH)-based fan engagement token, according to the analytics firm Santiment. Chiliz (CHZ) is a web3 infrastructure provider for sports and entertainment. The project’s native token, CHZ, is up nearly 2% in the past 24 hours, more than 14% in the past week and more than 27% this […]

The post Crypto Whales Abruptly Accumulate Ethereum-Based Altcoin Sending Volume to Highest Level in 22 Months: Santiment appeared first on The Daily Hodl.

Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Two Ethereum-Based Altcoins Witnessing Abrupt Surge in Whale Activity Amid Marketwide Bounce: Santiment

Two Ethereum-Based Altcoins Witnessing Abrupt Surge in Whale Activity Amid Marketwide Bounce: Santiment

New data reveals crypto whale transactions are rising for two Ethereum (ETH)-based altcoins as the broader market rallies. According to market intelligence platform Santiment, deep-pocketed investor activity is picking up for layer-2 altcoin Optimism (OP) and fan-focused crypto project Chiliz (CHZ). “With crypto rebounding big [May 20th], keep an eye on the rising whale activity […]

The post Two Ethereum-Based Altcoins Witnessing Abrupt Surge in Whale Activity Amid Marketwide Bounce: Santiment appeared first on The Daily Hodl.

Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Ethereum-Based Altcoin That’s Surged 245% in Three Months Looks ‘Incredibly Bullish’ Versus Bitcoin, Says Trader

Ethereum-Based Altcoin That’s Surged 245% in Three Months Looks ‘Incredibly Bullish’ Versus Bitcoin, Says Trader

A closely followed crypto strategist thinks that one Ethereum (ETH)-based altcoin is about to soar against Bitcoin (BTC). Pseudonymous analyst The Crypto Dog tells his 750,500 followers on the social media platform X that the decentralized exchange protocol Injective (INJ) is looking bullish on the INJ/BTC trading pair chart. “Incredibly bullish structure.” Looking at his […]

The post Ethereum-Based Altcoin That’s Surged 245% in Three Months Looks ‘Incredibly Bullish’ Versus Bitcoin, Says Trader appeared first on The Daily Hodl.

Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Animoca eyes SportFi ecosystem, becomes Chiliz Chain validator

Animoca Brands will become a validator for the Chiliz Chain as the venture capital firm looks to capitalize on the SportFi ecosystem.

Venture capital firm Animoca Brands will put its weight behind fan token blockchain Chiliz Chain as it joins the network as a validator within its proof-of-stake authority protocol.

Chiliz Chain is the backbone of Socios.com, the platform that operates a plethora of fan tokens for some of the biggest global football and sports teams. Europe’s most loved football clubs and a number of household sports brands have tapped into the solution to power Web3 fan tokens and other blockchain-based offerings.

Animoca Brands co-founder Yat Siu says the partnership presents an opportunity for his firm to combine its expertise in nonfungible tokens (NFTs) and gaming with Chiliz’s focus on sports and entertainment-focused blockchain solutions.

“We have already seen the rise of DeFi and GameFi, and we believe that SportFi represents the next major growth area that will redefine fan engagement and create new financial dynamics in the sports industry.”

Chiliz CEO Alexandre Dreyfus adds that Animoca’s addition as a network validator marks a pivotal point in the firm’s history as it looks to solidify its position as a major blockchain solution primarily focused on catalyzing Web3 functionality and the wider sports industry.

Related: Chiliz launches layer-1 blockchain to expand fan token ecosystem

Animoca Brands becomes the latest validator of the Chiliz Chain, joining the likes of Ankr, Paribu, Meria, Luganoes and InfStones as validators. Similar to proof-of-stake blockchain protocols like Ethereum, validators authorize and enable the creation of fan tokens, NFTs and decentralized applications, as well as verifying transactions and executing smart contracts.

Animoca has a wide-ranging spread of investments across the Web3 space and has also honed its focus on the sports sector. Its Web3 sports products include One Fight Arena, AFL Mint and REVV Motorsport. The latter includes the likes of MotoGP Ignition, MotoGP Guru, Formula E: High Voltage, REVV Racing and Torque Drift.

Animoca grabbed headlines in April 2022 by acquiring French racing game developer Eden Games for $15.3 million. The deal aimed to acquire racing game development talent to enhance the REVV Motorsport ecosystem and introduce blockchain-based games focused on the genre.

Chiliz launched its own layer-1 Ethereum Virtual Machine-compatible blockchain ecosystem to support its growth in Feb. 2023. The launch marked the transition away from its Ethereum-based ERC-20 token ecosystem to its own blockchain solution.

The blockchain initially used a system of 11 active validators with proof-of-stake authority consensus, which is touted to provide faster block times, lower fees and energy usage.

Magazine: Socios boss’ goal? To knock crypto out of the park

Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Tottenham Hotspur taps Chiliz blockchain for Web3 fan token

Spurs becomes the first Premier League team in two years to issue its own fan token on the Chiliz blockchain.

Tottenham Hotspur will become the latest Premier League team to tap into blockchain technology to issue and manage its own Web3 fan token to drive supporter engagement and rewards.

Spurs will issue the fan token through Socios.com, the fan engagement platform built on the Chiliz blockchain that has attracted over 80 major sporting teams from different codes around the world. The platform enables teams to issue and manage fan tokens, digital collectibles and real world rewards, while users can participate in DAO-like decisions involving their favourite teams.

Related: From cricket to crypto: AB de Villiers ventures into Web3

Spurs join the likes of Premier League champions Manchester City, Arsenal Barcelona, Paris Saint-Germain, Juventus, Inter Milan, AC Milan,Atlético Madrid and A.S. Roma, which are some of the most prominent teams in professional football making use of blockchain to innovate engagement with supporters.

The launch will allow $SPURS token holders to take part in onchain voting on a variety of team dynamics, including potential kit changes. Spurs will also partner with MatchWornShit, the platform that facilitates auctions of jerseys worn by players during games that are authenticated on the Chiliz blockchain.

Tottenham Hotspur's official announcement of its fan token. Source: Socios.

Commenting on the partnership, Tottenham commercial sales director Ryan Norys said that the fan token will build on its existing membership scheme with a “new range of club-related rewards and experiences.”

Speaking directly to Cointelegraph, Chiliz and Socios CEO Alexandre Dreyfus said that talks have been ongoing with Spurs since 2022. He also said that the club would use Socios while simultaneously integrating their fan token into their own loyalty programme and mobile app in the future.

$Spurs tokens are set to be launched on Oct. 4 and will be listed across cryptocurrency exchanges that support Chiliz tokens. Socios users in the United Kingdom can also expect to see disclaimers on fan token offerings from Oct. 8, as the marketing of cryptoasset promotions comes under the auspices of the Financial Conduct Authority (FCA).

This will require stricter rules for advertising as well as a disclaimer warning investors of potential total losses investing in cryptocurrencies or fan tokens.

Manchester City, Arsenal, Aston Villa, Everton, Leeds and Crystal Palace are the other Premier League outfits that manage fan tokens on the platform, with Dreyfus noting that the ongoing cryptocurrency bear market has hindered onboarding of teams over the past year.

Related: FC Barcelona secures $132M investment for blockchain and NFT venture

Fan tokens have become a significant source of revenue as teams look to leverage digital technologies to drive user engagement. Chiliz estimates that its blockchain platform has handled over $400 million in revenue for teams and leagues since 2018.

Chiliz was originally built as an ERC-20 token ecosystem but shifted onto its own layer-1 blockchain that is a fork of the BNB Chain in May 2023. Operating on a proof-of-stake authority (PoSA) consensus mechanism is touted to deliver shorter block times, reduced fees, and lower energy consumption, while being EVM-compatible allows it to remain compatible with Ethereum development tools.

The International Cricket Council is also looking to leverage blockchain technology to drive fan engagement during the upcoming 2023 Cricket World Cup in India. NEAR Foundation’s blockchain operating system will serve as the backbone for a Web3 fan engagement app during the six week global competition.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.

Magazine: Blockchain detectives: Mt. Gox collapse saw birth of Chainalysis

Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Chiliz (CHZ) CEO Outlines Future of Fan Tokens, Says We Haven’t Seen Full Potential Just Yet

Chiliz (CHZ) CEO Outlines Future of Fan Tokens, Says We Haven’t Seen Full Potential Just Yet

The chief executive of fan-focused crypto project Chiliz (CHZ) is detailing the future of the nascent digital asset subsector and says it has yet to live up to its full potential. In a new interview on Real Vision Crypto with macro guru Raoul Pal, Chiliz CEO Alexandre Dreyfus explains how fan tokens can be utilized […]

The post Chiliz (CHZ) CEO Outlines Future of Fan Tokens, Says We Haven’t Seen Full Potential Just Yet appeared first on The Daily Hodl.

Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours

Crypto Exchange Binance Adds Shiba Inu (SHIB) and Three Other Altcoins As Verifiable Digital Assets

Crypto Exchange Binance Adds Shiba Inu (SHIB) and Three Other Altcoins As Verifiable Digital Assets

The world’s largest crypto exchange platform by volume is adding Shiba Inu (SHIB) and three other altcoins to its list of verifiable crypto assets. In a new company blog post, Binance says its introducing zero-knowledge (zk) SNARKS, a verification method that keeps information secure, to its proof-of-reserves identification system. Binance also says it’s adding four […]

The post Crypto Exchange Binance Adds Shiba Inu (SHIB) and Three Other Altcoins As Verifiable Digital Assets appeared first on The Daily Hodl.

Lightchain AI Zooms Past Presale Stage 7, Raising $1.1M in 72 Hours