Category: Cryptocurrency

Crypto Bull Market Nearing Its Peak: What’s Next for Bitcoin?

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The cryptocurrency market has been on a strong upward trajectory since early 2023. According to data from CryptoQuant, the crypto bull market is entering its final stages, raising questions about what lies ahead for Bitcoin (BTC) and Ethereum (ETH). With Bitcoin recently surpassing $100,000 and Ethereum breaking past $3,500, investors are wondering if there’s more room for growth or if it’s time to exercise caution.

Here’s a closer look at what analysts and industry insiders are saying about the crypto market’s future.

CryptoQuant Warns: Final Stage of Crypto Bull Market Is Here

Data analytics provider CryptoQuant recently published a report suggesting that the crypto bull market is nearing its cyclical peak. The firm warns that Bitcoin’s recent spike to $101,812 resembles patterns seen during previous market tops.

In a January 6 post, CryptoQuant contributor “Crypto Dan” stated, “With a substantial influx of new investments as well as additional funds from existing investors, it is reasonable to expect that the market is now in the latter stages of this cycle.”

According to the report, one critical metric—Bitcoin’s short-term holding percentage—jumped to 36% in Q4 2024. Historically, a high percentage of recently purchased Bitcoin indicates that investors are becoming more speculative, a sign that the bull market is reaching its end.

While CryptoQuant acknowledges that Bitcoin and altcoins could see further gains in 2025, they urge investors to be cautious. “From a conservative standpoint and with risk management in mind, caution is advised,” the post concluded.

Other Analysts Predict the Bull Run Will Continue in 2025

Despite CryptoQuant’s cautious outlook, other analysts believe the crypto bull market has more room to grow.

Asset management firm VanEck expects Bitcoin (BTCUSD) to hit a medium-term peak of $180,000 in early 2025. They also project Ethereum (ETHUSD) to trade above $6,000 by the end of the year.

According to Matthew Sigel, head of digital asset research at VanEck, “At the cycle’s apex, we project Bitcoin to be valued at around $180,000, with Ethereum trading above $6,000.”

Steno Research echoes this sentiment, predicting that 2025 could be crypto’s best year yet. They foresee Bitcoin and Ethereum surpassing their previous all-time highs as more institutional investors enter the market.

Traders on popular prediction platforms Polymarket and Kalshi also expect BTC and ETH to reach new heights in 2025. They believe regulatory developments, such as the approval of new crypto exchange-traded funds (ETFs) and the establishment of a U.S. Bitcoin reserve, could further boost the market.

What’s Driving the Crypto Bull Market?

Several factors have fueled the current crypto bull market:

Institutional Adoption

More institutional investors are embracing cryptocurrencies, driven by increasing regulatory clarity and new financial products like ETFs.

Macro Economic Trends

Global inflation and economic uncertainty have pushed investors toward Bitcoin as a hedge against traditional financial risks.

Halving Events

Bitcoin’s next halving event is expected in early 2024, reducing the block reward for miners. Historically, halving events have preceded significant bull runs.

Emerging Markets

Cryptocurrencies are becoming more popular in emerging markets, where traditional banking systems are less accessible.

Should Investors Be Cautious or Optimistic?

The key question for investors is whether the crypto bull market is closer to its peak or if it still has more upside.

CryptoQuant’s warning suggests that we could be nearing the top of the cycle. Their data indicates that speculative behavior is increasing, which often precedes market corrections.

However, many analysts remain bullish, pointing to Bitcoin’s strong fundamentals and growing adoption.

VanEck, Steno Research, and traders on Polymarket believe that Bitcoin and Ethereum will continue to rise throughout 2025, driven by increased institutional interest and favorable regulatory developments.

The Bottom Line: Is the Crypto Bull Market Ending?

While there are signs that the crypto bull market is entering its later stages, the outlook remains divided. Some analysts urge caution, warning that speculative behavior could trigger a market correction. Others remain optimistic, forecasting new all-time highs for Bitcoin (BTCUSD) and Ethereum (ETHUSD) in 2025.

As always, investors should approach the market with a balanced strategy, considering both the risks and potential rewards. Whether the bull run continues or a correction looms, the crypto market is likely to remain a hot topic throughout 2025.

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Bybit x Block Scholes Report: BTC Options Steady with Call-Put Parity, ETH Braces for Short-Term Volatility

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DUBAI, UAE, Jan. 3, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has released its latest crypto derivatives analytics report in collaboration with Block Scholes. The report sheds light on key trends in open interest and market behavior during the significant year-end options expiration for Bitcoin (BTC) and Ethereum (ETH).

Key highlights:

Open Interest Solid Amid Year-End Options Expiration

Although open interest in BTC and ETH perpetual swaps has not returned to the early December 2024 highs, it remained stable during the critical year-end options expiration. This stability suggests that traders did not heavily rely on perpetual contracts to hedge the delta of expiring options, which contributed to the muted volatility observed during this period. Trading volumes dipped during the winter holiday season, aligning with a collapse in realized volatility, which reached its lowest levels of December.

BTC Option Curve Remains Steep During Call-Put Parity

Contrary to expectations, the expiration of December’s options did not spark a surge in volatility. Instead, realized volatility declined to the lower end of its recent range. The implied volatility term structure for BTC options remains steep, with longer-dated implied volatility hovering around 57% and 1-week at-the-money options trading approximately five points lower. Most of the expired open interest has not been reinvested, maintaining a neutral call-put balance. As a result, BTC’s options market shows limited leverage compared to its position at the beginning of December 2024, reflecting a cautious sentiment.

Huge ETH Option Expiring Doesn’t Cause Volatility

Despite the substantial expiration of ETH options in late December 2024, market dynamics remained stable. A spike in realized volatility during December failed to extend into the new year, with ETH’s spot price currently showing lower volatility compared to short-tenor implied volatility. Over the past week, the implied volatility term structure for ETH options has shifted, steepening briefly before flattening again, diverging from BTC’s consistently steep profile. This pattern suggests that ETH’s options market is bracing for potential short-term volatility in spot price movements.

Interestingly, despite the expiration, call options for ETH have gained momentum at the start of 2025, dominating the market and indicating an optimistic outlook among traders.

Sources: Bybit, Block Scholes

Access the Full Report:

Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full Bybit x Block Scholes Crypto Derivatives Analytics Report.

#Bybit / #TheCryptoArk / #BybitLearn / #BybitResearch / #BTC100K

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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The First Community-Driven Web3 Music Label with Meme-Culture: Beats of Meow Prepares for Launch

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DUSSELDORF, Germany, Jan. 2, 2025 /PRNewswire/ — Elon Musk’s tweets about DOGE have brought more attention to memecoins, with tokens like SHIB and PEPE making headlines as their value and popularity surge.

BeMeow (Beats of Meow) positions itself as the first community-driven Web3 record label embracing meme-culture. By merging blockchain and artificial intelligence technology with music and memes, they target better artist compensation while creating a novel community experience.

BeMeow is taking a step in a new direction. Instead of non-fungible tokens (NFTs), they use memecoins to digitize music on the blockchain. This unconventional tokenization approach enables songs to have their own dedicated trading charts. By applying trading fees to the tokens, BeMeow seeks to generate revenues that support independent artists making a living from their music releases.

BeMeow aims to reinvest a portion of the generated trading fees into an organic ecosystem. Planned initiatives include hosting club events and music festivals, as well as producing unique vinyl records with digital ownership features. These “vinyl NFTs” can generate passive income streams for collectors through a share of the music royalties and the fees paid by the memecoin traders.

BeMeow places its community at the heart of its operations. They encourage promotional engagement with token rewards allocated through a points-based system. Moreover, BeMeow integrates generative AI tools within its Telegram group, enabling users to create and submit music, without needing to be professional musicians. Community voting determines which songs are released on major music platforms such as Spotify, Apple Music, and Tidal. This way, creators and supporters can benefit from collected royalties.

Additionally, BeMeow plans to introduce copyright tokens and music index tokens, which aim to make music a more accessible and diversified investment class. The roadmap includes a dedicated music token exchange, designed to enhance the ecosystem with broader technical compatibility, reduced price volatility, and advanced trading features.

BeMeow’s native label token, $BEME, represents the ecosystem’s overall value. A portion of the trading fees from each music memecoin is reserved to buy back $BEME, supporting its long-term value.

The presale of $BEME is currently live, allowing early birds to support the project in its developing stage. To foster a smooth token launch in January 2025, BeMeow has implemented a vesting model, which gradually releases tokens to presale participants.

Presale participants can benefit from a two-tier referral program, offering additional rewards for bringing new supporters into the project.

Learn More:
Website: https://bemeow.club
Presale: https://bemeow.club/ref-PCsMsoeDEc
Music: https://bemeow.club/showcase
Follow: https://linktr.ee/beatsofmeow

BeMeow’s vision extends beyond the cryptocurrency community. By combining the universal appeal of music with blockchain technology, BeMeow strives to connect with a broader audience by offering incentives to blockchain enthusiasts and newcomers.

Contact:
Ramon Szellatis
004915172509426
388008@email4pr.com

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SOURCE Beats of Meow

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CULT Food Science Subsidiary Further Foods Announces Noochies! Now Accepts Popular Cryptocurrency Payment Options

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Noochies! products can now be purchased with BTC, ETH, SOL and DOGE


Cult Food Science Corp. Logo (CNW Group/Cult Food Science Corp)

TORONTO, Jan. 3, 2025 /CNW/ – CULT Food Science Corp. (“CULT” or the “Company”) (CSE: CULT) (OTC: CULTF) (FRA: LN0), a disruptive food technology platform pioneering the commercialization of lab grown meat and cellular agriculture to reshape the global food industry, is excited to announce that Noochies! products can now be purchased with popular cryptocurrencies including bitcoin (BTC), ethereum (ETH), solana (SOL), and dogecoin (DOGE). Accepting cryptocurrency not only opens the Noochies! brand up to a broader consumer base but also aligns with its mission to remain at the forefront of innovation, echoing the forward-looking ethos of the crypto industry.

The Company is also excited to announce that Noochies! has won the Pet Business Industry Recognition Award for dog/cat food toppers for its recently launched line of Sprinkles. To showcase its award-winning products, the Noochies! team will be at multiple industry and consumer shows in early 2025. The Noochies! team will be forging new relationships with retailers and distributors. For more information about the Pet Business Award, please visit: https://digitalmag.petbusiness.com/petbusiness/library/page/december_2024/68/.

Key Takeaways

  • Noochies! (https://www.noochies.co/) now accepts payment in popular cryptocurrencies including bitcoin (BTC), ethereum (ETH), solana (SOL), and dogecoin (DOGE).
  • Noochies! recently won a Pet Business Industry Recognition Award for their Sprinkles line of supplements.
  • To showcase its award-winning products, Noochies! will have a presence at key industry shows in the new year

Consumer and Industry Shows

Noochies! will be participating in multiple consumer and industry shows in early 2025 including The Super Pet Expo in Edison, NJ from January 3-5th and Global Pet Expo in Orlando, FL from March 26-28th.

Super Pet Expo (https://superpetexpo.com/) is New Jersey’s largest consumer animal and entertainment event and is expected to draw an attendance of 20,000 people over 3 days. Noochies! products including dog snacks and the recently released Sprinkles line of supplements/toppers will be available at the event for consumers to sample and purchase.
Global Pet Expo (https://globalpetexpo.org/) is the pet industry’s premier event featuring the newest, most innovative pet products. Global Pet Expo is open to independent retailers, distributors, mass-market buyers, and other qualified professionals. Attendance is expected to be over 20,000 people from 85 different countries. The Noochies! team will have a booth and will be forging new relationships with distributors and retailers.

Management Commentary

Mitchell Scott, CEO of CULT Food Science, commented, “We’re excited to expand Noochies! payment options to include cryptocurrency, further embracing innovation and convenience for our customers. Winning the Pet Business Industry Recognition Award for our Sprinkles line highlights our commitment to leading the pet nutrition sector, and we’re eager to continue driving growth with new opportunities in 2025.”

About CULT Food Science

CULT Food Science is a disruptive food technology platform pioneering the commercialization of lab grown meat and cellular agriculture to reshape the global food industry. CULT’s robust portfolio of investments in cutting-edge, venture-backed cellular agriculture and lab-grown meat companies provides widespread investor access to the future of food. Backed by a team of experts with extensive experience in food technology and launching consumer food products, CULT is committed to being at the forefront of the food revolution.

About Further Foods

Further Foods is revolutionizing pet nutrition through its innovative brand, Noochies! Noochies! leverages advanced cellular agriculture technologies to create pet food products with superior nutrition profiles and ethical standards. Noochies! recently introduced the world’s first freeze-dried, high-protein, nutrient-rich pet treats made without factory farming. Noochies! products are currently available for sale in the United States and Canada at select retailers and online at https://www.noochies.co/.

Additional information can be found by viewing the Company’s website at cultfoodscience.com or its regulatory filings on sedar.com.

On behalf of the Board of Directors of the Company,

CULT FOOD SCIENCE CORP.

“Mitchell Scott”
Mitchell Scott, Chief Executive Officer

Forward-Looking Information:

Information set forth in this news release may involve forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include but are not limited to the following risks: those associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and except as required by law, the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements. For further information on risk, investors are advised to see the Company’s MD&A and other disclosure filings with the regulators which are found at sedar.com.

SOURCE Cult Food Science Corp

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Cango Inc. Announces December 2024 Production Update for Crypto Mining Business

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SHANGHAI, Jan. 2, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), a leading automotive transaction service platform in China, today announced its production update for crypto mining business in December 2024.

Bitcoin Mining Update for December 2024

Metrics

Dec 2024 1

Nov 2024 1

Number of Bitcoins produced

569.9

363.9

Average number of Bitcoins produced per day

18.4

18.9

Total number of Bitcoins held 2

933.8

363.9

Total number of Bitcoins sold 2

Deployed hashrate 2

32 EH/s

32 EH/s

Average operating hashrate 3

30.4 EH/s

29.8 EH/s

1. Unaudited, estimated.
2. As of month-end.
3. Average over the month.

About Cango Inc.

Cango Inc. (NYSE: CANG) is a leading automotive transaction service platform in China, connecting car buyers, dealers, financial institutions, and other industry participants. Founded in 2010 by a group of pioneers in China’s automotive finance industry, the Company is headquartered in Shanghai and has a nationwide network. Leveraging its competitive advantages in technological innovation and big data, Cango has established an automotive supply chain ecosystem, and developed a matrix of products and services centering on used car trading and exporting. By working with platform participants, Cango endeavors to make car purchases simple and enjoyable, and make itself customers’ car purchase service platform of choice. In recent years, Cango has diversified its business operations and expanded its operation into other industries, such as overseas crypto assets. For more information, please visit: www.cangoonline.com.

Investor Relations Contact

Yihe Liu
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: ir@cangoonline.com 

Helen Wu
Piacente Financial Communications
Tel: +86 10 6508 0677
Email: ir@cangoonline.com 

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SOURCE Cango Inc.

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OrangeX Aligns with Upcoming MiCAR Regulations through Proactive Compliance Strategies

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VICTORIA, Seychelles, Jan. 1, 2025 /PRNewswire/ — December 30, 2024, just marked a pivotal moment for the cryptocurrency industry as the European Union Markets in Crypto Assets Regulation (MiCAR) comes into effect. This groundbreaking regulation represents a major shift in the EU’s approach to cryptocurrency oversight, aiming to enhance consumer protection, promote market integrity, and foster innovation across the digital asset ecosystem.


OrangeX

Recognizing the significance of MiCAR for the future of the crypto industry, OrangeX has taken several steps to align its operations with the new framework, which includes successful integration of the Travel Rule API, a crucial component of anti-money laundering (AML) regulations. This integration demonstrates OrangeX’s commitment to compliance and its proactive approach to meeting the requirements set forth by MiCAR.

1. Travel Rule API Integration: A Milestone in AML Compliance

OrangeX is proud to announce the successful integration of the Travel Rule API, a key component of anti-money laundering (AML) regulations. This technology ensures seamless and compliant data sharing between financial entities, reinforcing OrangeX’s commitment to transparency and consumer protection. By implementing this critical tool, OrangeX has taken a proactive stance to address MiCAR’s rigorous AML requirements.

2. Licensed Operations in EU

Currently, OrangeX holds a trading license in the Czech Republic, enabling the exchange to operate within the EU’s existing regulatory framework. This license not only affirms OrangeX’s credibility but also places the platform in a strong position to expand its services across the EU once MiCAR takes full effect.

3. Registering as Crypto-Asset Service Provider (CASP)

As part of its preparation for MiCAR, OrangeX is dedicated to ensuring compliance with the regulation’s stringent standards as a Crypto-Asset Service Provider (CASP). We’re actively implementing measures to meet all operational, security, and transparency requirements set forth by the new rules.

4. Continuously Adopting Advanced Technologies

OrangeX fully understands that stringent anti-money laundering (AML) measures are crucial for protecting users and ensuring the compliant development of the platform. Recently, in addition to OrangeX’s existing database, they have integrated Slowmist’s AML system (https://www.misttrack.io/) and CipherOwl, which are also used by major crypto exchanges globally. This enables OrangeX to more comprehensively scan transactions and prevent virtual assets from flowing through our platform to sanctioned or high-risk addresses.

OrangeX recognizes the importance of adhering to regulatory standards. We maintain active communication with regulators and are instrumental in developing our compliance architecture and keep focusing on implementing the necessary measures to uphold the highest standards of security and transparency for the users. All efforts underscores OrangeX’s long-term vision of building a secure, trusted, and innovative platform for its users.

A Bright Future for the EU Crypto Market

The introduction of MiCAR signals a new era of opportunity for cryptocurrency service providers, customers, and affiliates. By standardizing regulations across the EU, MiCAR is expected to enhance market credibility, attract more institutional investors, and create a safer environment for all stakeholders.

OrangeX views these developments as an opportunity to lead by example in promoting a compliant and forward-thinking crypto ecosystem. The exchange is committed to collaborating closely with EU regulators to ensure its operations align with MiCAR’s requirements, setting the stage for future growth and innovation.

About OrangeX

Established in 2021, OrangeX operates a high-standard cryptocurrency trading platform with the most advanced technology, skilled staff, and experienced financial expertise. OrangeX provides its users with services including derivatives trading, spot trading, one-click copy trading, and a fiat gateway to purchase cryptocurrencies. Now OrangeX boasts a client base of over 2.6 million users because of its technical advantages and professional services.

For more information, please visit: Website | Twitter | Telegram | CoinMarketCap | CoinGecko

For media inquiries, please contact: marketing@orangex.com

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SOURCE OrangeX

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Bybit Launchpad Onboards Xterio, Opening up Opportunities in Blockchain Gaming for Users

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DUBAI, UAE, Dec. 31, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce the next major Launchpad project, Xterio token (XTER), with 7,500,000 XTER in rewards for early subscribers. Bybit users now have the opportunity to delve into the GameFi economy and earn rewards through two stages: by subscribing to the token on Bybit Launchpad by Jan. 7, and by completing simple tasks to unlock additional prize pools following XTER’s Spot listing on Jan. 8.

Bybit Logo

Xterio is an AI-powered blockchain gaming platform built on the Layer 2 OP Superchain ecosystem. Xterio’s innovative approach to combining gaming and rewards has attracted high-caliber investors and developers. The project has raised over $80 million in funding and boasts strong backing from Binance Labs, Makers Fund, DST Global, and over 70 partners.

XTER Subscription – How to Participate:

During the subscription period, users have two options to share in the 7,500,000 XTER rewards:

  • Subscribing to Buy XTER with MNT for a chance to win from the total pool of 3,750,000 XTER (with an individual cap of 7,500 XTER).
  • Joining the lottery with USDT to win XTER allocation from another 3,750,000 XTER prize pool (with an individual cap of 4 lottery tickets per users).

To participate, eligible users must maintain a daily average balance of 50 MNT or 100 USDT during the Snapshot Period from Jan. 3 to 7, 2025. The required amount must be committed during the Subscription Period from 3:30 AM UTC to 8:50 AM UTC on Jan. 8, and tokens will be allocated by 9:59 AM UTC on the same day.

XTER Spot Listing – More Rewards Head

From Jan. 7 to 22, 2025, Bybit users can also unlock two additional XTER prize pools by completing simple tasks:

  1. Users may register for the XTER Token Splash and complete deposit and trading tasks for a chance to earn from a 300,000 XTER prize pool; and
  2. The XTER Puzzle Hunt allows participants to collect puzzle pieces to unlock another 300,000 XTER prize pool.

Xterio on Bybit Web3: A Rising Star in Blockchain Gaming

Xterio also provides a robust and vibrant ecosystem through its strategic partnerships. Recently featured on Bybit Web3’s GameFi SNZ, Xterio ranked 4th among a formidable list of contenders, where its supporters shared a 38,000 XTER prize pool on Bybit.

By subscribing to and trading the native XTER token, Bybit users have the chance to get ahead in the rapidly growing blockchain gaming sector.

“We are excited to bring Xterio to Bybit Launchpad, offering our users a unique opportunity to get in early on the future of blockchain and AI gaming,” said Emily Bao, Head of Web3 and Spot at Bybit.

Bybit Launchpad offers a transparent platform allowing users to participate in high-potential blockchain projects at attractive prices in the early stages. Curated by blockchain experts, Launchpad projects often gain strong community support before landing on Bybit Spot, where users benefit from the platform’s robust infrastructure, safe trading environment, and deep liquidity.

For a detailed timeline on Bybit Launchpad and Bybit Spot, (terms and conditions apply), users may find out more from the announcement – Xterio (XTER) on Bybit Launchpad 3.0: Now Live, and visit Bybit Launchpad.

#Bybit / #TheCryptoArk

About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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Bit Digital, Inc. Acquires Another Metropolitan Site for Tier-3 Data Center Expansion

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NEW YORK, Dec. 30, 2024 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a global platform for high-performance computing (“HPC”) infrastructure and digital asset production headquartered in New York, announced today that is has acquired the real estate and building for a build-to-suit 5MW Tier-3 data center expansion project in Montreal, Canada. This acquisition is part of Bit Digital’s strategy to expand its HPC data center footprint to 32MW during 2025. This site also comprises part of Bit Digital’s 288MW proprietary pipeline announced earlier this year. 


(PRNewsfoto/Bit Digital, Inc.)

Bit Digital purchased the site (“MTL2“) for CAD $33.5 million (approximately USD $23.3MM assuming a CAD/USD exchange rate of 0.70) excluding fees. The acquisition closed on December 27, 2024. Bit Digital initially funded the purchase with cash on hand and is in the process of securing mortgage financing for both the site acquisition and subsequent infrastructure capex.   

The Company expects to spend approximately CAD $27.6 million (approx. USD $19.3MM) to develop the site to Tier-3 standards with an initial gross load of 5MW. The site is expected to be completed and operational by May 2025. 

MTL2, a 160,000 square feet site that was previously used as an encapsulation manufacturing facility, is located in Pointe-Claire, QC. Bit Digital plans to retrofit the site with advanced cooling technology, including direct-to-chip liquid cooling, which enhances energy efficiency and supports AI and other high-performance workloads with 150kW rack density. The Company is collaborating with third parties to implement a heat reject loop to further enhance the sustainability profile of the datacenter. The facility will be powered by 100% renewable hydroelectricity provided by Hydro-Quebec. Additionally, the site offers the potential to expand, enabling scalable growth aligned with market demand. 

Sam Tabar, Bit Digital’s CEO, commented: “This site acquisition marks an important step forward in our data center growth plans. This site is a Class A industrial property that was a former encapsulation manufacturing facility that included premium infrastructure specifications. It is located in one of the most desirable commercial real estate locations in Montreal. By leveraging the existing infrastructure, including over CAD $750 thousand worth of advanced HVAC equipment included in the purchase, we are able to lower our development costs and accelerate our time to market – a key advantage and core tenet of our development strategy. The development timeline aligns with the demands of a new customer that intends to fill the capacity with new generation Nvidia GPUs.

We are in the process of securing cost-effective mortgage financing for this project which we intend to announce upon finalization. We believe this will ultimately showcase Bit Digital’s ability to cost-effectively finance its data center buildout in a non-dilutive manner.” 

About Bit Digital

Bit Digital, Inc. is a global platform for high-performance computing (“HPC”) infrastructure and digital asset production headquartered in New York City. Our bitcoin mining operations are located in the US, Canada, and Iceland. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

Investor Notice

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 3.D of our Annual Report on Form 20-F for the fiscal year ended December 31, 2023 (“Annual Report”). Notwithstanding the fact that Bit Digital Inc. has not conducted operations in the PRC since September 30, 2021 we have previously disclosed under Risk Factors in our Annual Report: “We may be subject to fines and penalties for any noncompliance with or any liabilities in our former business in China in a certain period from now on.” Although the statute of limitations for non-compliance by our former business in the PRC is generally two years and the Company has been out of the PRC, for more than two years, the Authority may still find its prior bitcoin mining operations involved a threat to financial security. In such event, the two-year period would be extended to five years. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or bitcoin hash rate may also materially affect the future performance of Bit Digital’s production of bitcoin. Actual operating results will vary depending on many factors including network difficulty rate, total hash rate of the network, the operations of our facilities, the status of our miners, and other factors. See “Safe Harbor Statement” below.

Safe Harbor Statement

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

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SOURCE Bit Digital, Inc.

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$JENNER Deadline: $JENNER Purchasers Have Opportunity to Lead $JENNER Securities Lawsuit

This post was originally published on this site

NEW YORK, Dec. 29, 2024 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the cryptocurrency “$JENNER” on the Solana and/or Ethereum blockchains between May 26, 2024 and the present, both dates inclusive (the “Class Period”), of the important January 17, 2025 lead plaintiff deadline.


Rosen Law Firm, P.A. Logo

So what: If you purchased $JENNER during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the $JENNER class action, go to https://rosenlegal.com/submit-form/?case_id=31137 or call Phillip Kim, Esq. at 866-767-3653 or email case@rosenlegal.com for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 17, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the lawsuit, Defendant Caitlyn Jenner offered and sold $JENNER by means of written and oral communications which contained materially false and misleading statements, and omitted material facts necessary to make the statements not misleading, including but not limited to the following: (1) misrepresentations regarding the potential profitability, functionality, and value of $JENNER; (2) failing to disclose the risks associated with investing in $JENNER, including regulatory risks and potential lack of liquidity; (3) misleading statements about the project’s financial health, business prospects, and future growth opportunities; (4) Jenner’s and other insiders’ own holdings and financial interests in the enterprise; and (5) false and misleading statements about getting $JENNER listed on centralized cryptocurrency exchanges (“CEXs”). When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the $JENNER class action, go to https://rosenlegal.com/submit-form/?case_id=31137 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com

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SOURCE THE ROSEN LAW FIRM, P. A.

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PARODY ON $6.2M BANANA ART GRABS ATTENTION AT LAS VEGAS GALLERY

This post was originally published on this site

‘The Six Million Dollar Man with Banana’ by Mr. Hide Draws Crowds
At Animazing Gallery at The Venetian Resort Las Vegas

LAS VEGAS, Dec. 27, 2024 /PRNewswire/ — A month after comedian Maurizio Cattelan’s banana duct taped to a wall sold to a crypto entrepreneur for $6.2 million, people are still talking… and having a laugh.


Crowds gather outside Animazing Gallery at Grand Canal Shoppes at The Venetian Resort Las Vegas to see The Six Million Dollar Man with Banana art for sale for $6 million.

Animazing Gallery in the Grand Canal Shoppes at The Venetian Resort in Las Vegas, is having a little fun with the viral sensation – today unveiling a piece featuring a vintage 1973 Kenner The Six Million Dollar Man plastic toy doll holding an acrylic banana taped to a piece of white foam board – and it is grabbing attention! The 18 1/2-inch by 13 1/20-inch piece by “Mr. Hide,” also available on Artsy.net (Mr. Hide | The Six Million Dollar Man with Banana (2024) | Available for Sale | Artsy) is priced at… you guessed it… $6 million. Could this be a playful mocking of the buyer of Cattelan’s piece?

“The $6.2 million banana duct taped to a wall has certainly been the talk of the art world,” said Nicholas Leone, owner of Animazing Gallery. “It has lent itself to weeks of playful jest and awe, so it is not surprising that our ‘Six Million Dollar Man with Banana’ is already attracting crowds and an endless parade of people taking selfies with the piece at Animazing Gallery.”

ABOUT ANIMAZING GALLERY

Animazing Gallery began in 1984 as a gallery specializing in conceptual animation art. Over time, the collection expanded to include works by a wide range of renowned illustrators and pop culture artists. Animazing Gallery has become an industry stronghold for illustration art and contemporary art inspired by the masters of illustration and hosts pop up events throughout the United States to celebrate its artists and their works.

Upon acquiring a collection of comic strips by Charles M. Schulz in 1995, the gallery began to focus on at American Illustrators. In the gallery’s search to find art exhibiting “the perfect line,” the owner soon discovered an important collection of drawings and watercolors by Theodor Seuss Geisel, better known as Dr. Seuss. The artwork was exhibited in numerous museum exhibitions. 

Owner Nicholas Leone serves as a consultant for numerous auction houses and handles gallery sales and acquisitions. The company’s featured gallery is located in the Grand Canal Shoppes at The Venetian Resort in Las Vegas and features an abundant repertoire of classic illustrators and contemporary artists. 

Media Contact: Terry Wills
twills@willscom.com
310-877-1458

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SOURCE Animazing Gallery

Featured Image: Unplash @ traxer

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