SMI signs MOU with The9 for the development of a cryptocurrency cloud-mining platform

Singapore, Jul 16, 2021 – (ACN Newswire) – The Board of Singapore Myanmar Investco Limited ("SMI") is pleased to announce that it has entered a comprehensive non-binding memorandum of understanding ("MOU") yesterday with NASDAQ-listed Internet company The9 Limited, to launch a cryptocurrency cloud mining business.

Focusing initially on three types of cryptocurrencies – Bitcoin (BTC), Filecoin (FIL) and Chia (XCH) – the mining business will be hosted in a range of facilities across Canada, US, Central Asia and the ASEAN region to serve customers. This business is expected to commence in Q4 2021 and will be subject to regulatory approval.

Following the MOU, SMI has also entered into a cooperation and support agreement yesterday, which includes a range of technical support services to be provided by NHASH (Hang Zhou Suan Li Technology Co Ltd), a cryptocurrency cloud mining Software-as-a-Service ("SaaS") company, for an initial five year term, and with an option to extend for another five years, subject to mutual agreement.

This agreement also presents SMI with the option to purchase up to 4,000 crypto mining machines, including models such as the Antminer S19j, and the Whatsminer M31S+, for a consideration to be further agreed on by both parties. Any payment through shares will be subject to the approval of SMI's shareholders at an extraordinary general meeting to be convened in the later part of the year.

SMI, The9 and NHASH are committed to best practices in reducing the environmental impact of cryptocurrency cloud mining operations.

"SMI is delighted to embark on this initial range of mining products and services, making it easier for customers in our region to participate in cryptocurrency mining. We will continue to work with The9 and other partners to bring a range of other leading digital products and services to market, as we pivot SMI away from its traditional businesses," said Mark Bedingham, President and CEO of SMI.

This latest move follows SMI's entering into a subscription agreement with The9 for new shares in SMI, as announced by SMI on 21 June 2021.

About Singapore Myanmar Investco

Singapore Myanmar Investco Limited ("SMI") is an investment and management company focused on the high-growth emerging economy of Myanmar. SMI adopts a diversified business model to capitalize on the strong trends in consumer spending, international tourism and infrastructure investment.

On June 30 2021, SMI announced its intention to pivot the company in a new direction encompassing cryptocurrency, SaaS and other high technology platforms subject to approval of SGX-ST, and SMI's shareholders at a general meeting to be convened in the later part of the year ("EGM"), for a diversification of SMI's core business. SMI is also looking to work with other partners in the areas of gaming, digital entertainment and robotics.

Listed on the Main Board of the Singapore Stock Exchange, SMI has a highly capable and experienced management team with proven track record in finance, business development and emerging markets.

For media queries, please reach out to:
Ashley Tan
Financial PR
E: ashley@financialpr.com.sg
T: (+65) 6438-2990

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Coinfluence Announces ICO to Empower the Next Generation of Influencer Marketing

TALLINN, EE, Jul 15, 2021 – (ACN Newswire) – The crypto industry has a unique marketing environment – being a cutting-edge industry, traditional (even digital-traditional) marketing strategies have proven to be ineffective at capturing the attention and interest of today's crypto consumers. Heavy users of social media, the younger crowd relies more on word of mouth than ads or news. According to recent research, the influencer market will reach nearly $14 billion this year, and it is no wonder that this shift in paradigm will be felt in the crypto sphere.



Take the example of Elon's Musk's infamous support for Dogecoin. The latest tweet recovered the 10% drop it witnessed a day earlier. One tweet can be the difference between the life and death of the next breakthrough in the digital asset space. Such is the power of influencers in crypto.

Coinfluence: The Crypto Influencer Platform of the Future

Coinfluence solves the crypto influencer marketing problem by connecting upcoming projects with a wealth of high-level influencers. The outcome is an environment where projects get access to high-quality social media influencers that can attract the right crowd and increase the chances of a successful launch while the influencers get to be a part of the next breakthrough in crypto, creating fantastic win-win situations. And of course, a good project doesn't necessarily translate into a successful one if it remains under the radar. Access to a wide range of influencers means that it will get the right exposure, putting it on the map where it truly belongs.

Coinfluence achieves this with a tight-knit set of strategies. First, any project that wishes to be listed must go through a stringent quality check that is based on a multitude of factors, allowing only thoroughly vetted projects to be listed. This creates a cleaner and better option for investors, whilst protecting the market from scams, rug pulls, and bad actors.

At the centre of this whole ecosystem is the CFLU token, designed to assist projects and influencers to achieve mutually beneficial outcomes. Approved projects get to hold their token sales through the launchpad, where the community can acquire their tokens using CFLU. Each transaction gets taxed, with the amount being distributed for liquidity, staking rewards and marketing. At the same time, the deflationary token model should push the CFLU price upwards.

CFLU Token Sale Event

Driving the economics behind Confluence's ecosystem is the Binance Smart Chain-based BEP-20 compliant CFLU token. Based on the principles of deflation, there are a total of 1 billion CFLU, of which 650 million are already available in the currently ongoing token sale. The event is phase-based, with each of the 100 successful phases making the CFLU progressively more expensive (currently phase 1 has a price of 0.0056 USD per 1 CFLU).

Out of the 650 million CFLU, 100 million have been set aside for financing the platform developers. To give confidence to projects, influencers and users of CFLU, a vesting schedule will allow the team access to 20% of the funds, with the rest being released periodically. This ensures that rugpulls are guaranteed against.

An innovative tax system is also a unique approach, by which 10% of all transactions are deducted, with 4% going to the liquidity pools, 4% to token holders and 2% for marketing and expansion. Along with this, every 10th transaction in the first 1000 transactions will receive 5000 bonus tokens as a reward. Visit the Coinfluence ICO platform to get your CFLU tokens today.

The Present and the Future

The Coinfluence concept materialized at the start of 2021. Alongside this, the Coinfluence team has achieved onboarding a large number of influencers and it has set a target of 100,000 top influencers under its Enrolment Program. Coinfluence is also building towards global collaborations and getting CFLU listed on major exchanges, to provide increased liquidity and access for the everyday user to the CFLU ecosystem. Confluence is also looking to list CFLU on major coin monitoring platforms such as CoinMarketCap and CoinGecko, plus portfolio tracker Blockfolio, to raise awareness and increase information transparency.

Further down the road, Coinfluence will be launching its mobile app for access on the go. Confluence will be also roll out their own launchpad, giving projects a one-stop solution to top influencers and the many intricacies involved in project setup and launch, all at the same time. Finally, Coinfluence will create its own news platform, the Coinfluence News Network to inform its users and the public on the latest happenings in the industry.

Visit the Coinfluence ICO platform to get your CFLU tokens today. https://buy.coinfluence.org/

Connect via Twitter: https://twitter.com/TheCoinfluence
Join the official Telegram group: https://t.me/coinfluence
Follow on Instagram: https://www.instagram.com/thecoinfluence/
Catch Coinfluence on Reddit: https://www.reddit.com/user/theCoinfluence

Media Contact
Contact Email: Harshita@coinfluence.org

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

BlueHelix Group (BHEX) releases HDEX, world’s first decentralized trading platform to support cross-chain deposit/withdrawal and trading any asset

SINGAPORE, Jul 10, 2021 – (ACN Newswire) – BlueHelix Group (BHEX) has released HDEX, the world's first decentralized trading platform that supports decentralized cross-chain deposit/withdrawal and trading of any asset, on July 8. HDEX is the perfect landing for BlueHelix' decentralized financial strategic layout and will continue to empower the BHEX centralized trading platform, BHEX Cloud Saas & Whitelabel solutions, and BHEX Chain in the ecological sectors of BlueHelix Group.



HDEX decentralized exchange is based on BHEX Chain technology, the patented Bluehelix decentralized private key generation technology. It overturns CEX and the traditional DEX model, supporting arbitrary linkage and trading among heterogeneous chains and homogeneous chains which are fully compatible with various cross-chain technologies and standards, providing a technical foundation for HDEX to change the business logic of digital asset trading platforms.

Therefore, through HDEX, users can realize "decentralized cross-chain asset safe deposit and withdrawal, the swap and circulation of any trading pair on-chain, and the rapid transfer of assets between any public chains, truly realizing a complete cross-chain DEX model."

The innovation and integration of DEX+CEX

As we all know, in the process of digital currency trading in a centralized exchange, the exchange is responsible for the entire transaction process such as custody of funds, providing liquidity, matching transactions, and delivery and clearing. The platform has the absolute right and controls the user's asset security, users are in a weak position. With the development of DeFi, DEX has risen rapidly, solving many problems of centralized exchanges:

– Asset ownership risk: Users do not need to hold assets in CEX, and assets will be under their own control.
– Regulatory risk: unable to be truly supervised by the government and not affected by policies.
– Trading risk: Users do not need to worry about counterparty and transaction fraud and other issues.

DEX makes up for the deficiency of CEX and meets the actual needs of users. Currently, the market capitalization of some DEX platforms has surpassed CEX, along with the continuously growing trading volume and daily active users.

However, DEX in the market is built on a single public chain and deployed via smart contracts, such as Uniswap on Etherum, MDEX on HECO and Pancake on BSC. Or the Layer2 mode on Etherum, such as Loopring and Zkswap, while with the main problems as follows:

– Not support the swap between the Native tokens of mainstream assets like BTC;
– Most are based on the AMM model but not OrderBook model
– Low Asset trading efficiency and higher gas fees;
– Unable to realize the liquidity combination between the cross-chain assets;
– Unable to achieve the liquidity sharing between DEXs

HDEX has been committed to changing the existing problems of DEX and CEX since the establishment of the project, and perfectly integrating the advantages of the two. Through HDEX, users can fully share the liquidity and trading depth of any trading pair on any chain, and enjoy the trading experience no less than that of a centralized exchange but also with better user privacy and asset security experiences.

Leading the exchange business revolution

So, how will HDEX decentralized exchanges change the pattern of CEX and DEX and innovate the business logic of digital asset exchanges?

First. HDEX solves the cross-chain trading barrier on DEX.

HDEX fully supports the swap of Native tokens. Users can directly swap them into real mainstream public chain tokens such as BTC through HDEX, and withdraw them into their wallets at any time. There is no need to swap the assets issued by centralized organizations on HECO or Binance BSC, which greatly lowers the trust risks of the third parties.

HDEX also simplifies the complicated withdrawal procedure for the swapped assets on CEX.

Second, HDEX support the AMM+Orderbook trading mode, with the same liquidity pool;

Traditional DEX adopts the Orderbook mechanism, which is similar to the centralized exchange. However, many orders couldn't be matched due to the slow trading speed on-chain and small user scale. The occurrence of AMM market-making allows anyone to participate in liquidity providing, with a 3% transition commission bonus, has effectively solved the insufficient liquidity issue in the order book mechanism, which contributes to the growth spurt for the AMM DEXs represented by UniSwap.

However, without the Orderbook model, users of the AMM DEX can only place the orders on market price but not limit orders on CEX. Meanwhile, there will be a large slippage due to the lack of order book function, and orders cannot be filled at a satisfactory price, along with higher gas fees due to the congestion of the Ethereum network.

HDEX decentralized exchange supports both AMM and Orderbook modes. Users can initiate market order transactions or limit order transactions, set buying and selling orders according to the target price, and realize automatic execution, instead of relying solely on AMM prices. Decided. At the same time, it is also convenient for users to gather assets near the transaction price, which greatly improves the utilization rate of funds. In addition, HDEX is also very convenient and compatible with CEX user habits and user experience, which can improve and help CEX users seamlessly switch to DEX.

Third, HDEX guarantees 2000TPS+ validation efficiency and performance.

Currently, DEX assets are under decentralized custody, all transactions are on the chain, all operations are performed by smart contracts, and transactions occur directly between buyers and sellers (point-to-point). Every transaction order and status change are recorded in the blockchain network, which greatly reduces the transaction speed. HDEX has more than 2000 TPS and second-level consensus confirmation efficiency, which solves the problems faced by DEX.

HDEX Offers Lower Gas fees. It accounts for only less than 2.5% of Ethereum Gas fees. Most users meet high gas fees, lower efficiency, and transaction failure when using Uniswap, and they may need to set a higher slippage and pay expensive gas fees, while with HDEX, these issues will be no longer issues.

Fourth, HDEX to support all cross-chain assets supported by CEX.

Take USDT as an example, different users may have different USDT on different chains which may be difficult to be swapped with. Users can deposit USDT on different chains on HDEX, which can be mapped to the same USDT as on CEX, and used to trade with other tokens. Similarly, HDEX supports a cross-chain liquidity combination of any currency, which greatly facilitates the asset management and swapping needs of users.

Fifth. HDEX supports the OpenDEX protocol which allows everyone to develop their DEXs.

Currently, different DEXs have their own liquidity pools based on different smart contracts, but often with insufficient liquidity or market depth. Based on the OpenDEX protocol, HDEX allows any individual/community to develop their own DEX through OpenDEX protocol, while sharing the liquid and the co-construction among all DEXs on chain based on this protocol. At the same time, HDEX also supports customized DEX Settings.

In other words, any individual/community can create a Liquidity pool on HDEX and issue tokens, or remove them at any time. This function will greatly improve the activeness of existing users, greatly enriches the liquidity of the exchanges and increases the volumes, and will contribute to the user growth of the DEX market.

Currently, HDEX has launched the Global Ambassador Recruitment Program, and we welcome all global partners to join. Within the BHEX ecosystem, HDEX is expecting a great future with the recourse, technology, and management support from Bluehelix Group.

Media Contact
Elsa, hdex@bluehelix.com
Official Website: https://hdex.bhexchain.com/
Telegram: https://t.me/hdexofficial
Twitter: https://twitter.com/HdexOfficial

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Bytom and Moonstake form partnership for Bytom 2.0 and DeFi Collaboration

SINGAPORE, Jul 8, 2021 – (ACN Newswire) – Bytom and Moonstake, one of the industry's top staking providers, have entered into a strategic collaboration. Moonstake develops a staking pool protocol to meet the growing user and commercial demand in the Asian region and global market, aiming to become the largest staking pool provider (PoS staking) in Asia.



Moonstake joins the Bytom 2.0 ecosystem in its commitment to market and commercial success

Moonstake will be supporting the Bytom 2.0 ecosystem and providing its expertise in staking. The addition of Moonstake will provide Bytom users assurance with its expertise in Staking, while also bringing new digital asset options to Moonstake's existing users. Moonstake launched its staking business in 2020 with the aim to create the largest staking network in Asia. Since then, it has developed the most user-friendly Web Wallet and Mobile Wallet (iOS/Android) with support for over 2000 cryptocurrencies. After a full-scale operation launched in August 2020, Moonstake's total staking assets have grown rapidly to reach $1 Billion, allowing Moonstake to become one of the top 10 staking providers globally. Currently, Moonstake supports 12 high-demand staking coins: Cosmos, IRIS, Ontology, Harmony, Tezos, Cardano, Qtum, Polkadot, Quras, Centrality, Orbs, and IOST.

Bytom and Moonstake will also collaborate closely for marketing and community outreach efforts. Moonstake has strong user bases in markets such as Japan, Singapore and Southeast Asia, and its advisory team consists of members from several esteemed public chains and DeFi projects such as Lisk, Ramp, Centrality, RockX, Ruby Capital, and Harmony.

A Partnership for Opportunities in DeFi

The DeFi space currently has a very high concentration of innovation in the blockchain space. Both Bytom and Moonstake have deep technical and product expertise in this area. Bytom's DeFi protocol cluster product MOV (MOV.network) is a multi-decentralised protocol product that combines cross-chain, AMM, order book and interest rate protocols. Meanwhile, Moonstake currently has partnerships with Muse Finance and other high-profile projects in the DeFi space. Moonstake and Bytom will work together in the DeFi space to explore possibilities in the technology and ecosystem.

Lawrence Lin, the CEO at Moonstake expresses his excitement for this collaboration: "Moonstake looks forward to supporting Bytom 2.0 and its move to PoS. We will also work closely with Bytom for co-marketing and community outreach, and to explore deeper partnerships for the DeFi space."

Bytom CEO Langyu Said: "We can make a difference by collaborating with Moonstake. We believe that we can make a great success together in staking, DeFi and marketing together," said Lang Yu, the CEO at Bytom Foundation.

Together, Moonstake and Bytom's partnership promises to bring great value to the crypto staking and DeFi community as the Bytom blockchain makes its strategic migration to the PoS protocol and delivers further innovation to the market.

About Bytom

Bytom is a blockchain-based open-source value-exchange protocol. It aims to tokenize real-world assets, such as warrants, securities, dividends and bonds. Users can use the Bytom blockchain to create assets without limits and have these assets circulate freely.

Bytom has built a comprehensive product ecosystem that covers,
1. Bytom Blockchain
2. DeFi protocol (MOV)
3. Cross-chain gateway (OFMF)
4. Enterprise Blockchain (Bystack)
5. And also leading an IEEE working standard group

Learn more by visiting: https://bytom.io, follow us on Twitter@Bytom_Official, subscribe to Bytom's Newsletter, and join our Telegram.

About Moonstake

Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Moonstake develops a staking pool protocol and provides business services through partners and companies.

Moonstake aims to be the largest staking pool network in Asia by providing an active environment for crypto asset holders. Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia's burgeoning Distributed Ledger Technology (DLT) ecosystem. Partnerships have been announced with Emurgo, Ontology and NEO to boost staking adoption, Binarystar, Japan's biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore-listed company. Industry's reputed advisors, such as Lisk and Lawrence Lim of RAMP DEFI support Moonstake's innovative journey.

With a full-scale operation launched in August 2020, we expanded our business and as of now, our total staking assets exceeded over USD 1 billion. https://www.moonstake.io/

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Collect Rare Cards and Combine to Earn Unique NFTs of US Presidents with PixelPotus

Nevada, United States, Jul 7, 2021 – (ACN Newswire) – Just halfway through 2021 and we see non-fungible tokens (NFTs) becoming a staple in every crypto enthusiast's diet. With the NFT market total transaction value reportedly tripling in 2020 alone, NFT utilities and use cases continue to appear, and evolve throughout every corner of the crypto space.



Through the myriad of evolutionary pathways NFTs tread, nostalgia is one such pathway that PixelPotus pioneers, and molds anew.

Collecting cards has never been this innovative or competitive.

What is PixelPotus?

Accurately named PixelPotus, this NFT collectible card game features digital POTUSes (Presidents of the United States) in their finest pixelated suits; lined up for inauguration!

There are a total of 45 POTUSes available, each with a total of six levels of rarity as players combine cards to upgrade their favorite POTUS(es).

You may be thinking, aren't there a total of 46 POTUSes? You are correct, but lest we forget, Grover Cleveland acted as the 22nd and the 24th POTUS. Although President Cleveland would surely adore more publicity, PixelPotus ensures each POTUS gets a fair term in this game!

Get FREE POTUSes Today!

All players are able to claim a free* (*inclusive of a minor Tezos network fee) common POTUS token once per day. To mint the increasingly higher rarity version of each digital POTUS, a player must collect and then burn lower-level tokens to achieve the next tier. For example, to obtain an Uncommon Grover Cleveland, a player must burn two Common Grover Cleveland.

Following each player's free claim once per day, a player may then purchase an additional five random Common POTUSes for 0.125 tez per day. However, the total limit to claims daily is 5,000, and as such, players have to claim as early as possible to avoid missing out. PixelPotus also has a smart contract-powered marketplace for users to post trades and exchange in a trustless manner.

20% of all claim and upgrade fees enter a prize pool smart contract dubbed, "The Treasury." Once a player reaches the highest level of rarity (Unique), they can make a claim against The Treasury contract and receive a 25% payout. This will continue until all Unique POTUS tokens are minted and the final minted Unique token will receive whatever is left in The Treasury.

With only 10,000 of each Common POTUS token available and upgrades requiring lower-level token burning, PixelPotus POTUS tokens will only increase in scarcity. Sporting a bold, unique, and inherent deflationary spirit to the game, eventually, there will be no more cards left to claim!

Community Comes First

The Tezos community is well-known to be one of the most active and engaged communities out there. As the community's needs and wants continue to burst at the seams, PixelPotus responds rapidly; incorporating new features and applying fixes in record time. So far, PixelPotus has been highly praised for its fast pace of development and implementation of new feature requests.

Prioritizing the community, the PixelPotus team has recently released V2, which incorporates the ability to now set buy orders for cards alongside the current sell orders. Additionally, V2 revamps the player PixelPotus interface and improves upon all aspects of the increasingly renowned NFT collectible card game.

In the words of Andrew Jackson: "Take time to deliberate; but when the time for action arrives, stop thinking and go in."

Claim your first free POTUS token today here! https://www.pixelpotus.com/

PixelPotus Socials:
Telegram: https://t.me/joinchat/YTjc8t6oiahkMzMx
Discord: https://discord.com/invite/CbdbvwtwkM
Twitter: https://twitter.com/PixelPotus
Medium: https://pixelpotus.medium.com/
Instagram: https://www.instagram.com/pixelpotus_official/

Contact Details:
Name: Press Secretary Codecious
Email: press@pixelpotus.com

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Market Selloff Presents Good Opportunity to Accumulate ETH While It is Undervalued Says PrimeXBT Analyst Kim Chua

US, Jun 30, 2021 – (ACN Newswire) – News flows the past week has centred around BTC's big flash dip and about how long-term investors are taking the chance to accumulate more BTC. However, no one seems to be talking about the second largest coin, ETH. Is ETH a good buy at these levels?





The rise in DeFi is the single largest contributor towards the demand for ETH in this bull run as ETH is used both as a collateral as well as a fuel to use the ETH blockchain for yield-farming. While other developments like NFTs also contribute to the popularity of ETH, by and large, 90% of the demand for ETH has been for DeFi usage so far. Thus, to study if ETH is a worthwhile investment now, our focus should still be on DeFi, specifically, the trend about DeFi going forward.

ETH, while being the undisputed leader in DeFi, has seen some competition from other blockchains like Binance Smart Chain (BSC) and Polygon (MATIC). Part of the argument against ETH in DeFi use has been its high gas fee and slow speed, which has caused both yield-farmers and protocols to migrate to other cheaper blockchains like BSC and Polygon (MATIC). This resulted in some value from the ETH blockchain moving to other blockchains.
However, as the market started to turn downwards in May, exploits on DeFi projects were getting one too many with projects on other blockchains, while none were observed with those on ETH. BSC, the largest contender, saw the community of its top protocols, Venus (XVS) and Bunny (BUNNY), lose billions of staked funds due to exploits. This trend soon started happening to projects on MATIC as well, with the fastest and largest ever rug-pull (developer running away with yield-farmers' money) happening to Iron Finance, a project that even sophisticated investor Mark Cuban was openly bullish about. Iron Finance totally collapsed, wiping out billions of investor funds. It is appearing that the very reasons why these projects were successful became the very reason of their failure to take-off. Being cheap and fast allows bad actors to take advantage because it costs a scammer close to nothing to create a new protocol and they are able to get funds out of the protocol before being detected because the blockchain is fast. Perhaps ETH's higher gas fee and slower speed may be the very reason why exploits there are rare. Because it is more expensive to interact with ETH, projects and users there tend to think more long-term and could be less "degenerate".

The problems surrounding DeFi exploits caused a market-wide exodus of funds in DeFi projects on both BSC and MATIC in the past two months. The USD Total Value Locked (TVL) in BSC fell from a peak of $30 billion to a low of $10 billion, a loss of 67%, while the BNB token saw a loss in value of 69%. TVL on MATIC fell from a high of $11 billion to $4.3 billion, a 63% loss, while the MATIC token lost 65% at its lowest point during the selloff. Both projects have seen TVL rise back, with BSC clocking around $13 billion and MATIC $5 billion currently. To give a better perspective, lets quote in percentage terms. The TVL for BSC is still 60% lower, while the BNB token price has recovered to $290, a 60% loss from its ATH. As for MATIC, the token price is now around $1.10, which is 55% off from its peak, also a rather good reflection of its 55% TVL loss.

Contrast this with ETH, which saw its price fall 61% from a high of $4,373 to a low of $1,700, when the TVL on protocols run on ETH only fell 42%. At its peak, ETH projects took in an aggregate $117 billion, while they dropped to $67 billion at the lowest point in May, a fall of 42%. However, the price of ETH was hammered down by 61% during that time, falling 20% more than the drop in TVL.

Even though ETH price has recovered from its low, it is still 55% lower than its high, while its TVL has recovered to around $77 billion, around 35% lower than its peak, with the 20% discrepancy is still manifesting. This reveals that unlike the other two competitors, the fall in ETH price is more drastic in proportion to its fall in TVL, which could suggest that the selling in ETH is overdone. ETH, a leader in the smart contract blockchain place, which ought to give it a price premium, is now seemingly trading at a disproportionate price discount to TVL as compared with its peers. This could thus mean that either ETH is undervalued, or that the other two blockchains are overvalued.

To ascertain if the few DeFi-blockchains are likely overvalued or undervalued, let us examine the DeFi adoption in the past year. DeFi adoption has been taking off in a gradual way since the early part of 2021, as can be seen in the below chart. The month-on-month growth of DeFi users had been consistent, with 292,000 new users registered every month since Jan 2021. In June, despite the market fallout, the number of new DeFi users did not drop, in fact that number actually went up to 300,000. This suggests that growth in DeFi adoption has not only not receded, but it actually picked up pace, which shows an aggressive growth trajectory. Valuation in an industry which is growing aggressively should have a premium, which means they ought to command premium valuation. Hence, this in no way suggests that a lower valuation estimate should be warranted for blockchains doing DeFi. In this regard, ETH is not overvalued. ETH is in fact, rather undervalued, since ETH is now also on track with some major upgrades as imminent as July.

The massive fall in ETH then could be due to greedy investors taking on high leverage positions during the hype of the impending upgrade, only to suffer from huge liquidations when the market turned, which started a spiralling effect as margin liquidations sent prices lower which then resulted in more margin liquidations on other investors which started a cascade of price fall. With price settling into consolidation after the bulk of the liquidation done, investors looking for value may do well accumulating ETH when its price is still currently undervalued.

The key risk event for ETH of course could be the failure of ETH2.0. However, with ETH founder, Vitalik Buterin, already having issued a pre-emptive warning to not expect a smooth transition until year 2022, investors have been mentally prepared and reaction towards any implementation delay will not be drastic.

It thus seems that there is more room for upside surprise should the key upgrade manage to yield better-than-expected results in fee reduction as well as in reducing the supply of ETH in the market. ETH looks to me a good buy at current level of around $2,000.

About Kim Chua, PrimeXBT Market Analyst:

Kim Chua is an institutional trading specialist with a track record of success that extends across leading banks including Deutsche Bank, China Merchants Bank, and more. Chua later launched a hedge fund that consistently achieved triple-digit returns for seven years. Chua is also an educator at heart who developed her own proprietary trading curriculum to pass her knowledge down to a new generation of analysts. Kim Chua actively follows both traditional and cryptocurrency markets closely and is eager to find future investment and trading opportunities as the two vastly different asset classes begin to converge.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

BitDeer Introduces Antbox, an Integrated Mobile Mining Farm

SINGAPORE, Jun 27, 2021 – (ACN Newswire) – BitDeer, the leading cryptocurrency mining and cloud services provider, is launching presales of its flagship product, Antbox, a mobile crypto mining farm. Antbox, also known as Deerbox, is the first of its kind, a plug-and-play mobile mining farm with low energy consumption, and at the same time practical.



The Antbox enables customers to set up a fully equipped mining business in half the time of a traditional mining farm and at approximately 50% of the cost.

With the growing popularity of cryptocurrency, we've seen increased interest in becoming a miner. However, the days of running Bitcoin mining software on a Personal Computer have long gone. As mining becomes more competitive, finding Bitcoin blocks has only been feasible for professional miners.

To start a mining business, owners will spend months looking for a suitable venue and an even longer time building up the farm with specialized mining hardware. What if there was a way to make mining equipment mobile so that users could assemble it wherever they wanted, like LEGO?

The Antbox is a container mining farm that is activated once connected to power and the internet. A single Antbox unit takes up about 20 square meters of space, with the ability to host up to 180 Antminer S19 units. It can be adapted to different markets and electricity standards ranging from the Middle East, Asia, South East Asia and North America. Having an Antbox means people can have a professional mining farm operating in their backyard after connecting power and the internet. Customers can also combine multiple Antbox units, stacking them together to scale the size of the farm and achieve a higher hash rate. Antbox was originally a Bitmain product but allocated to BitDeer after the company was restructured.

The concept of operating a mobile mining farm has decreased the build time to 4 months – from purchasing equipment to being fully operational, which is nearly half the time of constructing a traditional mining farm. Based on previous experience, building a mining farm takes approximately 7 months in North America provided that suppliers are reliable and environmental regulations are met. Additionally, the cost of starting a mining business has been greatly reduced by using Antbox. With conventional methods of hosting equipment it costs between $250,000-$350,000 per megawatt but with Antbox this can be reduced by 50% to $160,000-$180,000 per megawatt.

Antbox is built on the premise of sustainability. The structural, ventilation and lighting design are all environmentally friendly. The farm does not rely on fans for ventilation, only shutters that are able to adjust the temperature automatically. LED lighting is used to lower electricity consumption.

Advantages of choosing Antbox, the leading mobile mining container, include high compatibility with Antminers and other brands, high levels of security with CCC/cULus verification and advanced fire prevention design. BitDeer has devoted manpower and efforts to provide future Antbox upgrades and capacity enhancements. Antbox is widely used for BitDeer's self-operated mining farms. Their farm in Norway is completely comprised of Antbox units.

In light of recent changes to crypto mining regulations in China, Chinese miners are looking to migrate their farms overseas and the demand for mobile farms increased significantly as a result. BitDeer is therefore offering this presale. Buyers can register their interests now to participate in the presale.

About BitDeer

BitDeer.com is the world's leading all-in-one mining and cloud service platform, enabling global users to mine cryptocurrencies in a transparent, reliable, and convenient way. It saves users from the complicated process of purchasing, installing, and hosting mining machines. Individual miners can enjoy the service with just one click.

For more information, please visit:
Website: https://www.bitdeer.com
Facebook: https://www.facebook.com/BitDeerplatform
Twitter: https://twitter.com/BitDeerOfficial
YouTube: https://www.youtube.com/channel/UCtJXnuj98nJ9kImoN0wI_uA
VK: https://vk.com/public174640639

Media Contact
contact@bitdeer.com

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Oxygen Strikes Agreement with Leading Cybersecurity Firm Kudelski Security

ZUG, SWITZERLAND, Jun 25, 2021 – (ACN Newswire) – Oxygen.org, the alternative market infrastructure ecosystem, has signed a strategic agreement under which Kudelski Security, a division of the Kudelski Group in Switzerland, will provide security assessment and architecture support for the Oxygen platform going forward. Kudelski will conduct a series of reviews and audits of the Oxygen Protocol functionality and interfaces, as well as collaborating with Oxygen to assess future enhancements, changes, or additions to Oxygen's protocols.

Beginning with prime brokerage, Oxygen will replicate a growing range of products offered by investment banks, helping to build finance without Wall Street. As a DeFi ecosystem, Oxygen will enable delivery of these services to individuals and institutions alike, democratizing access to sophisticated investment, risk management and liquidity solutions.

Viktor Mangazeev, Co-founder of Oxygen, said "Institutions and individual investors have a right to expect that they can trust the quality, reliability and stability of the Oxygen ecosystem. For Oxygen, this partnership provides transparency, promotes absolute confidence that the protocol does precisely what it promises and demonstrates its security – all based on a thorough assessment by a leading global expert in cybersecurity."

Scott Carlson, Head of Blockchain Security for Kudelski Security – stated "I'm very excited to be working with Oxygen on this series of engagements. As they are on the leading edge of new business models in the DeFi space, it is important to show strategic leadership in promoting cyber security. Comparable traditional businesses have years of audits and tests, and the emerging ecosystems must put their best foot forward to build trust of users and environmental partners."

Oxygen is built on the growing and liquid Serum ecosystem which leverages an on-chain orderbook to match borrowers and lenders to provide fair rates. And it is made possible by massive throughput and ultra-low costs of the scalable Solana blockchain. Solana currently processes up to 50,000 transactions per second, each one costing just $0.00001, with plans to further scale these capabilities. Combined, this partnership can accelerate mass adoption of DeFi.

The Kudelski Security team will perform a Source Code Assessment, Architecture Review, and Architecture Verification of the Oxygen.org Finance system. Special attention will be focused on the Contracts Mechanism, Finance Logic, Yields, Borrowing, Lending, and Leverage mechanisms, as well as other related funds safety considerations. Verification analyses will confirm that formulas, cryptographic/mathematic, etc. in the software faithfully implement the specified intent of the protocol. Testing will include dynamic testing of key financial risk scenarios such as edge situations, liquidity events, and more.

Alex Grebnev, Co-Founder of Oxygen explained "Rapid innovation in open finance protocols like Oxygen opens up access to highly value-added investment banking products, which have always been the exclusive domain of institutional investors. But to gain the trust of a broader investment community and increase adoption, we must provide robust and continuous assurance of the security of our protocol. We will continue to work closely with our new partners Kudelski and we will publish findings and actions taken to ensure transparency."

About Oxygen Protocol

Oxygen is alternative market infrastructure ecosystem, built on the fast-growing and liquid Serum ecosystem and running on Solana's scalable blockchain. Its initial offering is an on-chain prime brokerage protocol through which users can earn yield, borrow from peers, trade directly out of fund pools, and get trading leverage against a portfolio of assets. As a DeFi protocol, Oxygen is part of a movement to create a more efficient and open financial system – or 'Finance without Wall Street' – that replicates the constructs of traditional finance without centralized control and intermediaries. Oxygen.org AG is based in Switzerland, which is recognized as an advanced jurisdiction for distributed ledger technology. Oxygen works with a Big Four audit firm and with leading international legal advisers to ensure asset safety and regulatory compliance. For more information, visit https://www.oxygen.org/

About Kudelski Security

Kudelski Security is an innovative, independent provider of tailored cybersecurity solutions for large enterprise and public sector clients. It has 300+ employees and locations in Europe (Cheseaux-sur-Lausanne, Zurich – Switzerland, Paris – France, Munich – Germany) and the U.S. (Phoenix, Minneapolis, Dallas, Atlanta). Kudelski Security international headquarters is ISO 27001:2013 certified, ensuring the quality of our Information Security Management System in the protection of customer data while delivering cybersecurity solutions. The company is a member of the Forum of Incident Response and Security Teams (FIRST), a premier organization and recognized global leader in incident response, with additional Computer Emergency Response Team (CERT) competencies. For more information, please visit www.nagra.com

Media Inquiries:
Adam Harper (Hong Kong) adam@calibercorporateadvisors.com
Scott Krady (USA) scottk@calibercorporateadvisors.com

SOURCE: Oxygen

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

ONFO Announces Bitcoin Treasure Hunt

Missouri, USA, Jun 25, 2021 – (ACN Newswire) – Ten videos, a private key, and one Bitcoin. The hunt is on. The ONFO project is announcing the launch of a series of educational videos on cryptocurrencies on its official YouTube channel. The 10 videos will be delving into the inner workings of the crypto market and the details of the underlying technologies. The private key is hidden somewhere in the videos, all 10 videos must be seen in order to find the private key to enter the wallet at and claim the prize of 1 BTC.



The video episodes will be released on a periodic basis. Through the videos, the ONFO project is seeking to help its viewers understand cryptocurrencies as an asset class with the treasure hunt acting as an analogue of Bitcoin mining by its essence of identifying the correct combination of phrases akin to mathematical formula calculation.

The need for proper explanation of cryptocurrencies is vital to ensure timely onboarding of new users and their assimilation into the digital economy of the future. Considering the ongoing processes of digital transformation and transition to decentralized Web 3.0, the founders of the ONFO project believe that the series of educational videos will allow community members and newcomers to the world of cryptocurrencies better understand the underlying potential of digital assets.

Given the low level of penetration of information regarding the possibilities and opportunities of digital assets, many potential users are being left outside the industry. This results in slower onboarding of new users and the hampering of digital transformation in the global economy.

The ONFO project releasing the series of videos is a social network mining decentralized cryptocurrency platform founded by Dr. J.R. Forsyth, who has been involved in the cryptocurrency industry since its advent and has in-depth understanding of the technology. As a skilled and seasoned speaker, Dr. Forsyth is considered one of the world's leading experts on cryptocurrencies and will be giving insights into his expertise in each of the videos.

"I will be talking about Satoshi Nakamoto, the mysterious inventor of Bitcoin, in the video docu-series. Each segment is relatively short. In these new videos, there will be a Bitcoin private key hidden somewhere "in plain sight". That private key will unlock 1 whole Bitcoin that will go to the first person who discovers the key. It is a bit of a treasure hunt. The series will be released one by one on YouTube. I am the only person on the planet that knows where the private key is hidden and I will die with the secret if I have to," as Dr. Forsyth commented on the announcement.

As a fervent adherent of decentralized technologies, Dr. Forsyth is intent on taking part in the episodes, revealing and explaining the details of the crypto market with insight into his extensive experience of working in the industry. The launch of the first episode is scheduled for June 25th of 2021 with details and specifics slated to follow in the near future.

ONFO project
https://onfocoin.com/

YouTube channel (The first episode)
https://www.youtube.com/watch?v=YMl3-AfBBvs

Find the private key to this wallet – https://www.blockchain.com/btc/address/157dpLJgAAKugukKz8UwBHapM4idyZvnLc

Media Contact
Alyona Karpinskaya
PR Blockchain
+380937646333
a.sergeeva0003@gmail.com

This press release is issued through EmailWire.Com (www.emailwire.com) – a global newswire with press release distribution services.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Moonstake Partners with TRON Foundation to Enable TRX Staking and Explore Opportunities in DeFi

SINGAPORE, Jun 25, 2021 – (ACN Newswire) – Today, Moonstake announces it has entered into a strategic partnership with the TRON Foundation that develops one of the world's largest blockchain-based operating systems, the TRON Protocol.



Through this partnership, Moonstake aims to enable staking of TRX coin, TRON's native token, on its wallets and the two sides will collaborate on community building and marketing activities to promote adoption of the TRON and Moonstake ecosystems. Moonstake and TRON are also looking into further collaboration opportunities in the DeFi sector, as TRON is one of the most prominent blockchains in the DeFi space due to highly optimized transaction fees. Since March this year, Moonstake has officially entered DeFi together with the newly launched DeFi platform, Muse.Finance, who has begun releasing its core products and recently started its lockdrop for early adopters.

Moonstake launched its staking business in 2020 with the aim to create the largest staking network in Asia. Since then, it has developed the most user-friendly Web Wallet and Mobile Wallet (iOS/Android) with support for over 2000 cryptocurrencies. After a full-scale operation launched in August 2020, Moonstake's total staking assets have grown rapidly to reach $1 Billion, allowing Moonstake to become one of the top 10 staking providers globally. Currently, Moonstake supports 12 high-demand staking coins: Cosmos, IRIS, Ontology, Harmony, Tezos, Cardano, Qtum, Polkadot, Quras, Centrality, Orbs, and IOST.

Meanwhile, TRON is a market-leading blockchain well-known for its large and highly active community of users and developers from all over the world, dedicated to the establishment of a truly decentralized Internet and its infrastructure. The TRON Protocol, one of the largest blockchain operating systems in the world, adopts an energy efficient dPoS consensus mechanism to provide high throughput, high scalability, and high availability for decentralized applications in the TRON ecosystem through collaboration with key business partners including global tech giant Samsung, Opera, BitTorrent, Poloniex, Swisscom Blockchain, and many more. It is one of the fastest growing DeFi ecosystems on the market, currently boasting more than 40 million user accounts and over 2 billion cumulative transactions. Additionally, Tron based TRC20 protocol hosts the largest circulation of stablecoin globally with nearly 34 billion USDT at present. Its native coin Tronix (TRX) can be used to pay for a robust range of decentralised content and application services on the network.

Mitsuru Tezuka, Founder at Moonstake, says: "We are deeply honored to become partners with TRON, an industry-leading blockchain with a global-scale community of highly active users and developers. TRON is one of the fastest-growing ecosystems in the market with a truly impressive growing volume of transactions and a vibrant ecosystem of DApps especially in the DeFi space. We hope to accelerate global adoption of the TRON network and DeFi services, as well as scale both of our growing ecosystems together."

Justin Sun, CEO of TRON Foundation, says: "TRON staking is growing strongly and we're glad to partner with Moonstake, one of the top 10 staking providers globally, to further accelerate adoption of TRX. Since TRON's initiative is also to go "All In on DeFi", we're also happy to explore deeper collaboration opportunities with Moonstake in the field of decentralized finance and strongly boost the great growth of our DeFi ecosystems together."

The partnership with TRON is another important strategic addition to Moonstake's growing partner network. We look forward to bringing better value to our user communities and the crypto space as a whole, as well as deeper collaboration in the fields of staking and potentially, decentralized finance.

About Moonstake

Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Moonstake develops a staking pool protocol and provides business services through partners and companies.

Moonstake aims to be the largest staking pool network in Asia by providing an active environment for crypto asset holders. Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia's burgeoning Distributed Ledger Technology (DLT) ecosystem. Partnerships have been announced with Emurgo, Ontology and NEO to boost staking adoption, Binarystar, Japan's biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore-listed company. Industry's reputed advisors, such as Lisk and Lawrence Lim of RAMP DEFI support Moonstake's innovative journey.

With a full-scale operation launched in August 2020, we expanded our business and as of now, our total staking assets exceeded over USD 1 billion. https://www.moonstake.io/

About TRON

TRON is dedicated to accelerating the decentralization of internet through blockchain technology and dApp use cases. Founded in September 2017 by Justin Sun, Tron has since achieved a number of milestones, including MainNet launch in May 2018, network independence in June 2018, and TRON Virtual Machine launch in August 2018. July 2018 also marked the acquisition of BitTorrent, a pioneer in decentralized P2P services boasting approximately 100M monthly active users globally. https://tron.network/

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com