Category: Cryptocurrency

WLFI Crypto Coin Launches with Strong Initial Demand

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The decentralized finance (DeFi) world has witnessed a major new player enter the market with the launch of the WLFI crypto coin. Spearheaded by former U.S. President Donald Trump’s DeFi project, World Liberty Financial (WLFI), the token sale launched to a wave of strong demand. Within the first hour, nearly 2,900 investors secured 344 million tokens, marking an explosive start for this much-anticipated project.

WLFI Crypto Coin Sale Kicks Off with High Demand

The public sale for WLFI crypto coin opened exclusively to accredited investors through a whitelist process that began in September. Despite initial website outages, the project sold over 220 million tokens to more than 1,700 wallets in the first 20 minutes alone. By the end of the first hour, the number of investors grew to 2,900, with the total tokens sold reaching 344 million.

Trump’s team aims to raise $300 million through this token sale, with 100,000 accredited U.S. investors already whitelisted. The demand for WLFI underscores the growing interest in exclusive, high-value DeFi projects.

Exclusive Access for Accredited Investors

Due to regulatory restrictions imposed by the Securities and Exchange Commission (SEC), the WLFI coin is only available to accredited investors in the U.S. To qualify, investors must have a net worth exceeding $1 million (excluding their primary residence) or meet specific income thresholds—$200,000 individually or $300,000 with a spouse over the past two years.

One of the key differentiators of the WLFI crypto coin is its exclusivity. Unlike other cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH), the WLFI coin is non-transferable and does not generate yield. Additionally, 63% of the total token supply is reserved solely for accredited investors, limiting access to a select group. This makes WLFI a unique asset in the DeFi space, positioned as a high-demand governance token with restricted availability.

World Liberty Financial’s Ambitious DeFi Platform

World Liberty Financial, the DeFi platform behind WLFI, offers a suite of financial services, including lending, borrowing, and interest-earning opportunities for investors. The WLFI coin serves as the governance token for the platform, giving holders voting rights on key decisions about the network’s future.

Fronted by Eric Trump, Donald Trump’s son, World Liberty Financial has been framed as “digital real estate.” This Ethereum-based project aims to compete with traditional DeFi platforms by offering exclusive, high-value investment opportunities. Eric Trump described the project as an innovative solution that combines digital assets with real-world value, further boosting interest among investors looking for something more stable than traditional cryptocurrencies.

A Growing Demand for DeFi Projects

The initial success of the WLFI crypto coin is a testament to the increasing interest in DeFi projects. As decentralized finance platforms continue to evolve, they offer new opportunities for investors to diversify their portfolios. The WLFI coin’s strong launch reflects the growing appetite for these alternative investment vehicles, particularly those that offer exclusive access and tangible benefits like governance and decision-making power within a network.

The WLFI project also highlights the trend of major public figures and companies entering the cryptocurrency and DeFi space. With Donald Trump’s name attached to the project and Eric Trump actively leading its development, WLFI has garnered significant media attention, further fueling investor interest.

Regulatory Challenges and the Path Ahead

While the WLFI token launch has seen strong demand, it also faces significant regulatory challenges. The SEC’s strict guidelines around accredited investors limit access to the token, which could restrict its long-term growth potential. However, this exclusivity is also a selling point, attracting high-net-worth individuals looking for investment opportunities that are not available to the general public.

As the WLFI project continues to evolve, its success will likely depend on how well it can navigate the regulatory landscape while delivering value to its accredited investors. The ambitious goal of raising $300 million underscores the confidence the Trump team has in the platform’s potential to grow within the DeFi ecosystem.

What Lies Ahead for WLFI?

The strong initial demand for WLFI crypto coin demonstrates that there is significant interest in exclusive, high-value DeFi projects. As more accredited investors enter the fold, the platform will likely see continued growth and adoption. World Liberty Financial has positioned itself as a prominent player in the DeFi space, with ambitions to become a major competitor in the market.

Looking ahead, the project’s success will hinge on delivering a robust and scalable platform that meets the needs of its investors. With Eric Trump at the helm and a growing number of high-net-worth investors involved, the WLFI coin could become a valuable asset in the evolving DeFi landscape.

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Crypto Market Maturity Reaches New Heights in 2024: Insights from Coinbase

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The cryptocurrency market has matured dramatically in 2024, according to a new report from Coinbase (NASDAQ:COIN) and blockchain analytics firm Glassnode. This surge in crypto market maturity comes as billions of dollars flow into spot exchange-traded funds (ETFs) and blockchain network activity spikes, signaling a pivotal shift for digital assets.

Crypto Market Maturity Accelerates

In its October 15th report, Coinbase’s head of institutional research, David Duong, and Glassnode’s analytics team emphasized the profound changes in the crypto landscape over the past year. The introduction of crypto market maturity has led to deeper liquidity, greater accessibility, and a more sophisticated trading environment.

From the runaway success of spot ETFs to the rapid increase in on-chain transactions, the report highlights how these factors are shaping a more stable and expansive market. According to the report, “Markets have grown deeper, more liquid, more sophisticated, and more accessible.”

The Rise of Spot Crypto ETFs

One of the most significant drivers of crypto market maturity in 2024 has been the launch of spot Bitcoin (BTC) ETFs. These ETFs were listed in the United States in January 2024, drawing in approximately $5 billion during the third quarter alone. This influx of institutional capital has provided much-needed stability to the market, which had historically been known for its volatility.

Stablecoins have also seen a remarkable surge in demand, further contributing to market maturity. During the third quarter of 2024, the total market capitalization of stablecoins hit an all-time high of $160 billion, according to Glassnode data. Stablecoins, particularly those pegged to fiat currencies like the U.S. dollar, have become essential tools for traders and investors seeking lower-risk assets within the crypto space.

Ethereum’s Layer-2 Growth and Market Resilience

Ethereum (ETH), another key player in the crypto space, has also experienced significant advancements, particularly with the proliferation of layer-2 scaling solutions. These scaling networks, such as Coinbase’s own Base, have driven up daily active Ethereum addresses and boosted transaction volumes by five times compared to early 2023.

While Bitcoin ETFs have dominated the spotlight, Ethereum is also making strides. According to the Coinbase and Glassnode report, “Ethereum’s ecosystem is rapidly growing, led by the strength of innovative layer-2s.” The rise of these scaling solutions has bolstered Ethereum’s competitiveness, even though the price of ETH has lagged behind Bitcoin.

Ethereum’s fee structure has also shown signs of resilience. After hitting a low of just 9% of fee-earning layer-1 blockchains in August, ETH rebounded to control 40% of the market by late September. This resurgence in fee share demonstrates Ethereum’s growing prominence in decentralized applications (dApps) and smart contracts.

Reduced Volatility in 2024

Another sign of crypto market maturity is the decrease in volatility. In 2024, the three-month spot price volatility of Bitcoin dropped below 60%, significantly lower than its 2021 peak of nearly 130%. This drop in volatility is largely attributed to the market’s shift toward higher-quality assets like Bitcoin and Ethereum, as well as the growing influence of institutional investors entering the space through ETFs.

According to the Coinbase report, the reduction in volatility has made the market more attractive to traditional investors, who had previously been deterred by crypto’s wild price swings. With the stabilization of major assets, the crypto market is evolving into a more reliable investment option for long-term growth.

The Role of Stablecoins in Market Growth

Stablecoins have been instrumental in fueling the crypto market maturity seen this year. The increasing use cases for stablecoins—ranging from decentralized finance (DeFi) applications to remittances—have expanded their market share, making them a crucial component of the broader crypto economy.

The Glassnode report also noted that stablecoins and Bitcoin consumed a larger portion of the total crypto market capitalization in 2024, as investors sought safer, more liquid assets during times of economic uncertainty. With stablecoins like USDC and Tether (USDT) reaching all-time highs in market cap, they are expected to continue playing a pivotal role in the market’s ongoing expansion.

A Bright Future for Crypto in 2025

As 2024 comes to a close, the crypto market maturity witnessed throughout the year sets the stage for continued growth in 2025. Coinbase’s report highlights the ongoing development of layer-2 solutions for Ethereum, the rising popularity of stablecoins, and the growing institutional adoption of Bitcoin through ETFs as major catalysts for future expansion.

Looking ahead, research firm Canalys expects these trends to help maintain momentum in the crypto market into the first half of 2025. With spot ETFs offering a gateway for traditional investors and blockchain networks becoming more efficient, the future of the crypto market looks brighter than ever.

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CoinEx September 2024 Market Insight: Bitcoin Breaks Out Amid Fed Easing, Meme Tokens Resurge

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HONG KONG, Oct. 15, 2024 /PRNewswire/ — CoinEx Research has released its comprehensive report on the cryptocurrency market for September 2024. This month marked a pivotal month for remarkable rebound fueled by significant policy shifts and technological advancements.

Federal Reserve’s 50 Basis Point Rate Cut
The Federal Reserve’s decision to implement a 50 basis point rate cut set the stage for a surge in cryptocurrencies. This dovish stance, mirrored by similar actions from the European Central Bank and Bank of England, reversed earlier market downturns and injected optimism into the crypto market.

Bitcoin Bounded Back

Bitcoin started the month at $52,700, it experienced a dramatic surge following the Fed’s announcement, reaching heights of $66,000 before settling at $63,300 by month’s end. This impressive gain of over 20% has positioned Bitcoin to challenge the critical $70,000 resistance level.

Recession Risks 

The Federal Reserve projected a higher unemployment rate and maintained its GDP growth estimates of 2% for both 2025 and 2026. The inflation outlook remained manageable, contributing to a sense of stability that bolstered investor confidence. Market analysts are keeping a close eye on the USD/JPY currency pair, as a key indicator of global liquidity flows that could impact crypto markets.

Launch of Fractal Bitcoin Mainnet

Technological innovations played a crucial role in September’s crypto narrative. The launch of the Fractal Bitcoin Mainnet on September 9th marked a significant advancement in Bitcoin‘s ecosystem. The support from ViaBTC mining pool made CoinEx the first to list the native FB token further underscored the potential of this innovation.

Ton Ecosystem Faced Challenges 

However, not all developments in the crypto space were positive. The TON ecosystem faced challenges as new tokens like CATI and HMSTR underperformed post-launch, raising concerns about the sustainability of certain blockchain-based economic models.

Meme Token Fever

September also saw a revival of meme tokens, driven largely by viral trends on social media platforms. Animal-themed tokens, like Moo Deng, PESTO (penguins), and OMOCI (frogs) captured the eyes of traders especially on the Solana blockchain.

Market Optimism 

Despite these fluctuations, the overall market sentiment remained positive, as evidenced by the substantial inflow of $2.9 billion into stablecoins by the end of September. Looking ahead, the crypto community is bracing for an eventful October, with economic data releases and the U.S. elections looming as potential catalysts for the next wave of market activity.

Conclusion

In conclusion, The combination of favorable macroeconomic policies, groundbreaking technological innovations, and evolving market trends made September an important month for the crypto market in 2024.

About CoinEx

Established in 2017, CoinEx is a global cryptocurrency exchange committed to making crypto trading easier. The platform provides a range of services, including spot and margin trading, futures, swaps, automated market maker (AMM), and financial management services for over 10 million users across 200+ countries and regions.

CoinEx Research remains committed to providing in-depth analyses and insights into the evolving cryptocurrency market, helping investors navigate through the complexities and opportunities that lie ahead.

To learn more about CoinEx, visit: Website | Twitter | Telegram | LinkedIn | Facebook | Instagram  | YouTube

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iSHANG and 3Business Collaborate on Web3 Coupon Enterprise Solution under Cyberport Web3 Proof-of-Concept Subsidy Scheme

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HONG KONG, Oct. 13, 2024 /PRNewswire/ — iSHANG Technology Limited (“iSHANG”), a leading technology company specializing in Web3 enterprise solutions, is delighted to announce its collaboration with 3Business, the corporate brand of Hutchison Telecommunications (Hong Kong) Limited, under the Cyberport Web3 Proof-of-Concept Subsidy Scheme to implement the Web3 Coupon Enterprise Solution (Web3-Coupon) leveraging 5G.  This new collaboration represents a major leap forward in enhancing customer engagement and rewards. For more information, please visit – https://ishang.com/web3-coupon-enterprise-solution/

iSHANG and 3Business Collaborate on the Web3 Coupon Enterprise Solution under the Cyberport Web3 Proof-of-Concept Subsidy Scheme

The Web3 Coupon Enterprise solution enables customers to earn unique high-valuable rewards through the Web3 Coupon platform. By introducing personalized, exclusive rewards, it has the potential to transform customer acquisition and reward programs.

The solution will also add a new dimension to 3Business current mobile advertising services for enterprises by revolutionizing the way businesses manage customer engagement and loyalty campaigns. Leveraging Web3 technologies, the solution can ensure secure and traceable transactions, instilling trust and confidence in customers.  

By integrating 5G, artificial intelligence (AI), blockchain technologies and smart contracts, iSHANG Web3-Coupon provides an innovative, secure and transparent platform to simplify coupon management processes such as creation, distribution, redemption and tracking. This streamlines operations and enhances overall efficiency. It addresses the limitations of traditional mass promotion messages by offering a comprehensive solution for merchants to manage and analyze promotion results, conversion rates, and customer consumption data.

The transparency and immutability of the Web3 Coupon System, powered by blockchain technology, establish a trustworthy environment for customers. They can easily verify the authenticity and validity of coupons.

“Web3 seeks to transform various aspects of our digital lives, including how businesses incentivize and reward customers,” said Samson Lee, Co-founder and CEO of iSHANG. “We are thrilled to collaborate with 3Business in implementing the Web3-Coupon. This collaboration represents a significant step towards revolutionizing the customer incentives and loyalty programs. Leveraging the power of Web3 technologies, 5G and the support from the Cyberport Web3 Proof-of-Concept Subsidy Scheme, the solution will provide business customers with a secure, transparent, and efficient coupon system that drives customer engagement and enhances their overall experience.”

The Cyberport Web3 Proof-of-Concept Subsidy Scheme plays a vital role in fostering innovation and adoption of Web3 technologies across various industries. By providing financial support, the scheme empowers businesses to explore the potential of emerging technologies and accelerate the commercial adoption of Web3 in different industry sectors.

Blockchain technology ensures the transparency and security of commercial transactions and enhances the trust of merchants and consumers. Web3-Coupon revolutionizes traditional coupons by introducing an element of uniqueness and exclusivity. The model shifts from general points accumulation to earning unique digital assets, potentially transforming customer loyalty. It adds a layer of personalization and value, enhancing customer engagement and fostering a deeper connection with the brand. Web3-Coupon represents a major leap forward in customer engagement and loyalty programs, providing customers with a more dynamic, engaging and rewarding experience.

About iSHANG Technology Limited (iSHANG)

iSHANG operates a “Web3-as-a-Service” (W3aaS) platform that provides the infrastructure and a gateway for brands & enterprises to enter into the Web3 market. iSHANG W3aaS platform developed 10 x Web3 Solutions that are built on Ethereum and Polygon blockchain using IPFS (Inter Planetary Filing System) decentralized storage system. In addition, iSHANG provides Campaign Driven Launchpad & Marketplace, designed for brands & enterprises to launch their web3 marketing campaigns & facilitates the promotion, customer acquisition, retention programs and also secondary exchange of NFTs. Ultimately, iSHANG also offers one-stop consulting campaign management which develop tailor-made Web3 marketing campaigns empowering brands and enterprises to transform their businesses in various use-cases to capitalize new market opportunities.

For more information about iSHANG, please visit – https://ishang.com/

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WSPN and dtcpay Introduce Zero-Fee On-Ramp for WUSD, Marking New Era for Stablecoins 2.0

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SINGAPORE, Oct. 10, 2024 /CNW/ — Worldwide Stablecoin Payment Network (WSPN), a leading provider of next-generation stablecoin infrastructure, and dtcpay, a leading regulated digital payment platform, are making history with a strategic partnership that will revolutionize access to stablecoins. For the first time ever, users will have the ability to on-ramp WUSD, a fiat-collateralized stablecoin pegged 1:1 to the US dollar, through dtcpay with zero fees, marking a paradigm shift in the accessibility and affordability of digital assets.


(PRNewsfoto/WSPN)

This groundbreaking move marks a new era for stablecoins, breaking down barriers to entry and empowering individuals and businesses worldwide. Now, with a more inclusive and cost-effective way to utilize stablecoin solutions, WSPN and dtcpay are making WUSD a truly borderless and accessible digital currency. By eliminating fees, the partnership will save users significant amounts annually in transaction fees. WUSD will be gradually rolled out to the many merchants supported by dtcpay, including high-end establishments such as 35A Scotts Whisky Club and Capella Hotel Group’s flagship properties, Capella Singapore and Patina Maldives, Fari Islands. This practical implementation demonstrates the immediate impact and versatility of WUSD in everyday transactions, from luxury experiences to hospitality services.

“This zero-fee WUSD on-ramp with dtcpay is a game-changer for Stablecoin 2.0,” said Raymond Yuan, Founder & CEO of WSPN. “This partnership embodies our vision of making digital assets truly accessible to all, accelerating the adoption of stablecoins in the world. WSPN is proud to lead this financial revolution, reshaping the future of borderless transactions.”

“Partnering with WSPN to offer a zero-fee on-ramp for WUSD is a monumental step in making digital assets more accessible and affordable for dtcpay’s users. At dtcpay, we are excited to lead this charge toward a more i­nclusive financial future, breaking down barriers and creating new opportunities”,  said Anson Zeall, Chief Strategy Officer & Head of Compliance, dtcpay.

By eliminating fees for on-ramping WUSD, WSPN and dtcpay are democratizing access to stablecoins, fostering greater adoption and paving the way for a more efficient, transparent, and equitable financial system globally.

About WSPN

WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure and licensed digital payments for Web3 users. WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.

Learn more: www.wspn.io | X | LinkedIn

About dtcpay

dtcpay is a regulated Major Payment Institution (MPI) licensed by the Monetary Authority of Singapore (MAS) to conduct Digital Payment Token (DPT) services and other payment services under the Payment Services Act (PSA).

As a leading provider of digital payment solutions, we pioneer the integration of cryptocurrency acceptance into traditional financial systems. With a vision to make global transactions seamless and sustainable, dtcpay empowers individuals and businesses to embrace the future of payments. 
Learn more at dtcpay.com.

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Fairdesk Cryptocurrency Exchange Announces Permanent Closure of Platform by November 30, 2024

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SINGAPORE, Oct. 11, 2024 /PRNewswire/ — Since its official launch in 2021, Fairdesk Cryptocurrency Exchange has been committed to providing high-quality trading services to a global community of traders. Over the past few years, Fairdesk Cryptocurrency Exchange has played a positive role in enabling seamless cryptocurrency trades and futures transactions. However, due to evolving market conditions and regulatory changes, the company has made the difficult decision to permanently close its operations on November 30, 2024.

As part of this process, all futures and spot trading positions on the platform will be closed on October 17, 2024. From this date forward, the platform will only retain the withdrawal function. This function will be available until the final closure date of November 30, 2024. During this period, Fairdesk Cryptocurrency Exchange will remain fully operational to facilitate user withdrawals, and there customer service team will continue to offer professional support to assist users throughout this transition.

Fairdesk Cryptocurrency Exchange extends its sincere apologies for any inconvenience this may cause its users and appreciates the continued trust and support shown over the years. The team remains hopeful that will meet again in the future under better circumstances.

For further inquiries or assistance, users are encouraged to reach out to Fairdesk’s customer service team.

This announcement marks the official closure of Fairdesk Cryptocurrency Exchange.

About Fairdesk

Fairdesk Cryptocurrency Exchange was established in 2021 to provide traders worldwide with a secure and reliable platform for cryptocurrency trading. Since then, it has built a reputation for offering professional futures and spot trading services. The platform’s commitment to user experience, safety, and customer service has been at the core of its success.

For more information, please visit Fairdesk Cryptocurrency Exchange or contact there support team.

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Bybit x Block Scholes Derivatives Report Uncovers BTC Call Option Boom Amidst Election Uncertainty

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DUBAI, UAE, Oct. 11, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in collaboration with Blocks Scholes, is excited to unveil its latest crypto derivatives report. This insightful report explores the market’s response to recent price fluctuations and the backdrop of the upcoming U.S. election.

Bybit Logo (PRNewsfoto/Bybit)

Key Insights:

Decline in BTC Options Implied Volatility: Surprisingly, implied volatility for Bitcoin (BTC) options has dropped, despite the looming U.S. election. Traditionally, market uncertainty would lead to increased volatility ahead of major events, like the much-anticipated BTC Spot ETF launch, making this a noteworthy deviation.

Surge in Call Option Volumes: BTC call option trading volumes have surged significantly in recent weeks, potentially signaling a shift towards a bullish market sentiment.

Muted Futures Activity: While futures trading saw positive momentum with early October’s market volatility, open interest has remained relatively subdued compared to pre-September expiration levels.

Spike in BTC Perpetual Swap Volumes: Open interest in BTC perpetual swaps remained stable; however, trading volumes surged in response to early October’s volatility spike, marking an important market movement.

Cautious Sentiment in ETH Options: Ethereum (ETH) options also saw a decline in implied volatility. Put option volumes have surpassed call volumes over the past week, suggesting traders are taking a more cautious stance regarding ETH‘s future price movements.

Access the Full Report:

Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full report here: https://learn.bybit.com/crypto-insight/bybit-x-block-scholes-crypto-derivatives-analytics-report-oct-9-2024/

#Bybit / #TheCryptoArk /#BybitResearch

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For more information, please visit: https://www.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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SOURCE Bybit

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Jumpex Cryptocurrency Exchange Announces Permanent Closure of Platform by November 30, 2024

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SINGAPORE, Oct. 11, 2024 /PRNewswire/ — Since its official launch in 2024, Jumpex Cryptocurrency Exchange has been committed to providing high-quality trading services to a global community of traders. Over the past few monthsJumpex Cryptocurrency Exchange has played a positive role in enabling seamless cryptocurrency trades and futures transactions. However, due to evolving market conditions and regulatory changes, the company has made the difficult decision to permanently close its operations on November 30, 2024.

As part of this process, all futures and spot trading positions on the platform will be closed on October 17, 2024. From this date forward, the platform will only retain the withdrawal function. This function will be available until the final closure date of November 30, 2024. During this period, Jumpex Cryptocurrency Exchange will remain fully operational to facilitate user withdrawals, and their customer service team will continue to offer professional support to assist users throughout this transition.

Jumpex Cryptocurrency Exchange extends its sincere apologies for any inconvenience this may cause its users and appreciates the continued trust and support shown over the years. The team remains hopeful that will meet again in the future under better circumstances.

For further inquiries or assistance, users are encouraged to reach out to Jumpex’s customer service team.

This announcement marks the official closure of Jumpex Cryptocurrency Exchange.

About Jumpex

Jumpex Cryptocurrency Exchange was established in 2024 to provide traders worldwide with a secure and reliable platform for cryptocurrency trading. Since then, it has built a reputation for offering professional futures and spot trading services. The platform’s commitment to user experience, safety, and customer service has been at the core of its success. Quickly gained recognition for its focus on high-leverage trading and innovative solutions, offering traders a secure platform with excellent customer service.

For more information, please visit Jumpex.com or contact their support team.

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SOURCE Jumpex

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Alpha Trading Cup 2024: The First Trading Arena Where 1,149 Traders Put Real Cash on the Line

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The First Trading Arena Where 1,149 Traders Put Real Cash on the Line

SINGAPORE, Oct. 10, 2024 /PRNewswire/ — The Alpha Trading Cup 2024 is a high-stakes, live trading competition in which traders worldwide showcase their skills and dominate the financial markets. Hosted by Next Level Academy, Ascension Profits, and Monaxa, the event runs from August 15 to September 30, 2024.

This competition brings together top traders who compete in various asset classes, including crypto, forex, precious metals, indices, and stocks. With a prize pool of USD 44,000, participants also gain the unique opportunity to learn from seasoned professionals, test their strategies in real time, and potentially secure positions with hedge funds scouting for fresh talent.

“The purpose of the Alpha Trading Cup (ATC) is to discover the best traders and foster a culture of learning and collaboration,” says Sean Seah, Founder of Next Level Academy. “Our goal is to build a tribe of successful traders who are eager to share their knowledge and learn from one another. Throughout the competition, I’ve seen traders step up to share valuable lessons, strategies, and even their mistakes, while others have supported and guided newer participants. Together, we’ve helped over 1,000 traders progress, creating a thriving, supportive community.”

Over 1,149 traders from 22 countries have not only risked real money but also benefited from training by over a dozen world-class experts in diverse trading techniques, including algorithmic charting, crypto, forex, hedge fund strategies, and options. This is the first trading competition that combines high-stakes practical implementation with comprehensive education.

“While emotions may sway others, the quant trader focuses on data. The patterns are always there if you know how to find them, and that’s where the real opportunities lie,” says Alison Gan, AI Quant Trader at Next Level Academy.

Eric Ong, a Private Hedge Fund Advisor, adds, “The Alpha Trading Cup has enriched the trading community by fostering innovation, skill development, and collaboration. It provides a dynamic platform for traders of all levels to exchange knowledge and showcase their talents, driving the industry forward. The competition reinforces our commitment to integrity and sustainability by emphasizing ethical and responsible trading practices. As we celebrate this year’s participants, we recognize how the Alpha Trading Cup strengthens the entire trading ecosystem, creating a more informed, engaged, and resilient community. Together, we are shaping the future of trading.”

“When the Alpha Trading Cup (ATC) was first conceived, the idea was to create an enriching and informative environment for people from all walks of life to be able to learn and immerse themselves in the journey towards creating income in the financial markets. All too often, many people have the pre-conceived notion that being able to create income in the financial markets is only for proficient traders. Through this ATC and its related sharing sessions and tools and services provided, I’ve seen not just experienced traders profit but also beginner and novice participants alike.There has been tremendous growth in the community in terms of knowledge, financial gains, and breakthroughs. I sincerely wish that the vibrant ATC community continues their journey towards financial betterment through what they’ve learned and experienced in this ATC,” says Terence Tan, founder of Ascension Profits.

In the Alpha Trading Cup, participants invest their own capital, applying live strategies such as algorithmic trading and quantitative modeling, rather than relying on virtual capital or demo accounts. This ensures that every trader leaves the competition with actionable, practical techniques that can help them achieve financial independence.

About Next Level Academy

Next Level Academy is a premier educational platform offering comprehensive training and mentorship for investors and traders.

Known for its hands-on approach and expert-led events, Next Level empowers individuals to achieve financial freedom and transform their lives through effective wealth-building strategies.

About Monaxa

Monaxa is a leading online trading platform that empowers traders of all levels to achieve financial success. Through its educational resources, hands-on training, and cutting-edge technology, Monaxa enables individuals to trade a wide variety of assets and make informed financial decisions.

About Ascension Profits:

Ascension Profits empowers individuals to achieve financial freedom through strategic passive income generation and wealth compounding. We serve a diverse clientele—from busy professionals to entrepreneurs and retirees—all seeking to maximize their financial potential without additional time investment. Our proven methods enable clients to build wealth efficiently, allowing them to prioritize what truly matters: family, passions, and life experiences. At Ascension Profits, we don’t just build wealth; we pave the way for lives well-lived.

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SOURCE Next Level Academy

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U.S. Takes Action Against Crypto Market Manipulation Schemes

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The U.S. Securities and Exchange Commission (SEC) has taken significant steps to combat crypto market manipulation, an issue that has plagued the digital asset space for years. In a recent wave of enforcement actions, the SEC filed civil fraud charges against nine individuals and three companies accused of using market manipulation schemes to artificially inflate the value and trading volume of various cryptoassets. These cases highlight the ongoing challenges of regulating a nascent industry prone to exploitation

Crypto Market Manipulation: A Growing Concern

Crypto market manipulation has become a central concern for regulators as the digital asset market continues to evolve. The focus keyword, “crypto market manipulation,” has surfaced in numerous discussions as authorities attempt to curb illegal trading practices that deceive retail investors. The SEC’s charges are centered on fraudulent tactics that created the illusion of a thriving market, leading to substantial financial losses for unsuspecting investors.

One notable method used in these schemes is “wash trading,” a practice where traders simultaneously buy and sell the same cryptoasset to generate fake trading volume. By creating the appearance of liquidity and demand, fraudsters can manipulate prices, making the asset more attractive to potential investors. Wash trading has been illegal in traditional financial markets for decades, and U.S. regulators are now applying these standards to cryptocurrency as well.

SEC Targets Crypto Manipulation-as-a-Service

According to the SEC, two companies—ZM Quant and Gotbit—offered “market-manipulation-as-a-service.” These firms provided services to artificially inflate the trading volumes or manipulate the prices of certain cryptoassets, all while duping retail investors. By fostering an illusion of activity, they drove up interest and investment in assets that otherwise had little to no value.

One of the cryptoassets targeted by these manipulators was actually created by the FBI as part of an investigation into fraudulent activity within the crypto market. The asset’s creation allowed authorities to track illegal transactions and gather evidence against those involved in the manipulation schemes. This operation marks the first of its kind and signals that regulators are becoming more sophisticated in their approach to cracking down on crypto market manipulation.

Criminal Charges in Parallel Cases

In addition to the SEC’s civil charges, the U.S. Attorney’s Office for the District of Massachusetts filed parallel criminal charges. Several individuals were accused of market manipulation and wash trading in the crypto sector. Four defendants, including a Canadian resident, have pleaded guilty, and three others have been arrested in Texas, the U.K., and Portugal.

More than $25 million in cryptocurrency has been seized during the investigation, and multiple trading bots responsible for millions of dollars in wash trades across 60 different cryptocurrencies have been deactivated. This operation has significantly disrupted the infrastructure of these manipulation schemes, marking a critical victory for U.S. authorities in their effort to regulate the crypto market.

Implications for the Crypto Industry

The SEC’s actions reflect the growing concern over crypto market manipulation and its potential to harm investors. While the technology behind cryptocurrency is innovative, it has also opened the door to age-old financial scams like pump-and-dump schemes, where promoters artificially drive up the price of an asset before selling off their holdings, leaving investors with significant losses.

“We remain concerned about the ease with which the market for a cryptoasset can be manipulated and are committed to rooting out instances of such misconduct when it involves securities,” said Jorge Tenreiro, acting chief of the SEC enforcement division’s cryptoasset and cyber unit.

The allegations have not been proven, but three individuals have agreed to settlements with the SEC, subject to court approval. These settlements include conduct-based injunctions to prevent further violations of securities laws. The court will later determine financial penalties and disgorgement in these cases.

The Road Ahead for Crypto Regulation

As the crypto market grows, so does the need for stronger regulatory frameworks to protect investors from fraud. The SEC and other U.S. authorities have made it clear that they will not tolerate market manipulation in any form, whether in traditional securities or digital assets.

This crackdown on crypto market manipulation represents a turning point in the ongoing effort to regulate the industry. Investors can expect increased scrutiny on crypto exchanges, token issuers, and other market participants as regulators work to ensure transparency and fairness in the market.

The SEC’s focus on crypto market manipulation signals a new chapter in cryptocurrency regulation, one where enforcement actions and technological innovations work hand in hand to safeguard investors and uphold the integrity of the financial system.

Featured Image: Freepik

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