Alongside the rest of the cryptocurrency market, Cardano also witnessed a lackluster month. But certain cohorts of high-profile investors have been slowly amassing significant amounts of ADA tokens.

Cardano whales – those holding between 100 million and 1 billion ADA – have added 11% to their balances in the past month, according to ITB’s latest findings.

ADA Whales Adds More Tokens

The latest surge indicates a growing confidence or strategic positioning among large ADA holders. As of now, this cohort of ADA investors commands 6.71% of the entire token supply. Such an insight highlights the whales’ substantial influence within the Cardano ecosystem.

Cardano whales holding between 100m and 1b $ADA have added 11% to their balances over the past 30 days.

This group now holds 6.71% of the entire $ADA supply. pic.twitter.com/nSe4lXE96R

— IntoTheBlock (@intotheblock) May 15, 2024

Over recent weeks, there has been a gradual increase in Cardano whale activity as reported earlier. Historically, such rises in whale activity have been associated with potential price reversals, suggesting shifts in market sentiment.

However, contrary to this trend, ADA has closely mirrored the broader market movement, which saw a modest recovery on Thursday. ADA surged by nearly 6% in the past 24 hours, reaching $0.456 at the time of writing.

Experts believe that ADA could mirror its 2021 surge even targeting $7.80 level. Further bullish predictions suggest that the world’s 10th largest cryptocurrency by market cap might reach short-term levels near $1.70 and potentially ascend to a “parabolic” peak of $10, thereby reflecting strong confidence in its growth prospects.

Earlier this week, speculation about Gemini potentially listing ADA also surged following a popular post from the exchange. If the US-based cryptocurrency exchange proceeds with listing ADA, it could trigger a significant price rally for the token.

Cardano’s User Activity

Despite optimistic price projections, user activity on the Cardano network has been declining since March this year. Data compiled by Artemis shows that daily transactions on the network have decreased significantly, currently hovering around 50.7k compared to almost 96k recorded two months ago.

Additionally, daily active addresses have followed a similar trend, briefly dipping below 24k this month. These declines in user activity raise concerns about the network’s current usage and adoption rates despite the positive sentiment surrounding Cardano’s price potential.

Geneva, Switzerland, May 16, 2024 – TRON DAO proudly announces the completion of HackaTRON Season 6, a monumental season with a record 962 participants, co-hosted with HTX DAO, BitTorrent Chain, and JustLend DAO. This event not only showcased innovative blockchain projects but also highlighted the profound capabilities of the TRON network.

Diverse Sponsorship and Expert Judgement
This season’s success was bolstered by a distinguished array of sponsors and expert judges, each bringing unique value and insight:

Diamond Sponsors:

Ankr – Specializing in decentralized infrastructure services for DApp development, Ankr supports the seamless integration and deployment of blockchain applications. Representing Ankr on the judging panel is:

• Ryan Fang, Co-Founder and COO: With a background in top-tier investment banking, Ryan is the co-founder and COO of Ankr. He brings extensive financial and operational expertise to the blockchain space, focusing on innovations in Web3 and NFT sectors.

ChainGPT – Merges AI with blockchain to enhance Web3’s accessibility. Judges from ChainGPT including:

• Ilan Rakhmanov, Founder & CEO: Known for his innovative approach to blending technology and business.
• Sharon Sciammas, CMO: Brings extensive tech marketing expertise.
• Max Martinez, Advisor: Provides invaluable insights into AI, FinTech, Blockchain, and Web3 innovations.

AI-Tech Solidius – Champions eco-friendly computing and links AI with blockchain, promoting sustainable tech development. Judges from AI-Tech Solidius include:

• Paul Farhi, Founder & CEO: Leads with a vision for integrating AI within blockchain, driving the future of decentralized technologies.
• Niraj Poduval, Chief of Staff, brings over 11 years of AI and data consulting experience from sectors including Public Finance Banking. 
• Adrian Stoica, Founder and Head of Technology and Development: Provides a deep tech perspective to evaluate the technical robustness of projects.

Platinum Sponsor:

Kima Network –  A decentralized protocol for blockchain-based money transfers, enabling interchain transactions and accessibility for any user across any blockchain. Representing Kima Network on the judging panel are:

• Tomer Warschauer Nuni, CMO: Brings over 20 years of digital marketing expertise, with a deep focus on blockchain and Web3 innovations. Tomer is a serial entrepreneur with notable successes and a regular contributor to Forbes and Cointelegraph.
• Eitan Katz, CEO: With over 25 years of executive experience at tech giants like HP and BMC, Eitan is an early adopter of cryptocurrencies and was a founding member of Aegis, the first MPC-based bitcoin wallet.

Gold Sponsor:

GT-Protocol – Spearheading innovation in decentralized finance (DeFi), GT-Protocol offers a comprehensive suite of tools designed to enhance efficiency and transparency within the sector. GT-Protocol contributes their expertise to the competition through:

• Balaban Vladyslav, Co-founder: An avid blockchain advocate, investor, and entrepreneur with a futuristic vision. Balaban’s leadership at GT-Protocol underscores his dedication to revolutionizing the DeFi landscape.

Silver Sponsor: 

Router Protocol – Focused on cross-chain interoperability, Router Protocol empowers blockchain interactions and development through its innovative products. Joining the judges from Router Protocol is:

• Priyeshu Garg, Head of Marketing and Developer Relations: With a background in engineering and journalism, Priyeshu has been at the forefront of developing top-tier Web3 products since 2018, bringing a unique blend of technical expertise and market insights to the competition.

Celebrating Industry Experts

Our partners’ diverse expertise significantly enhanced the integrity and innovation of HackaTRON Season 6:

Huawei Cloud: Represented by Bian Wenchao, who is spearheading the charge towards a vibrant Web3 ecosystem.

Blockchain.com: Matt Arney leads business development, bringing a dynamic approach to fostering startup growth within the blockchain space.

ChainSecurity: Pietro Carta, a Blockchain Security Engineer, known for identifying and mitigating critical vulnerabilities.

ChainAnalysis: Pablo Navarro, combines his Web3 experience with offensive security to enhance blockchain safety.

Nansen: Edward Wilson, Social Media Manager, offers insights into on-chain data and DeFi from a user experience perspective.

Into The Block: Nicolas Contasti, Head of Sales & Business Development, shares his experience from transforming the financial services industry.

CryptoQuant: Ben Sizelove, Senior Data Consultant, provides top-notch on-chain and market data analytics.

CryptoRank: Sergei Zubakov, a chief analyst with expertise in the DeFi sector, adds analytical prowess to the event.

Arkham: Alexander Lerangis focuses on leading Arkham’s partnerships, branding, and growth initiatives.

A Successful Wrap-Up and Future Outlook

The HackaTRON provided a platform for extensive networking and strategic collaborations, setting the stage for future innovations. With the judging phase set to commence, the contributions of the esteemed judges will be crucial in selecting the winners, who will be announced on May 30. These winners will receive 30% of the prize pool immediately, with the remaining awarded upon successful deployment on the TRON mainnet, reflecting TRON DAO’s commitment to supporting practical blockchain applications.

About TRON DAO

TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps

Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of March 2023, it has over 217.61 million total user accounts on the blockchain, more than 7.27 billion total transactions, and over $25.91 billion in total value locked (TVL), as reported on TRONSCAN.

In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens – TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.

 

TRONNetwork | TRONDAO | Twitter | YouTube | Telegram | Discord | Reddit | GitHub | Medium | Forum

 

Media Contact

Hayward Wong
(email protected)

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Solana’s native token, SOL, surged by double digits within a 24-hour period. At the time of reporting, SOL is valued at $161 after tapping $165 earlier, with a 24-hour trading volume of $3.7 billion, marking an increase of 56.6%.

According to CoinGecko data, SOL is the fifth largest cryptocurrency, with a market cap of $73.1 billion.

Robinhood and Infinex’s Announcements

This surge in SOL’s price can be attributed to several recent developments within the crypto space, notably involving major platforms such as Robinhood, Infinex, and MarginFi.

In a May 15 announcement on Solana’s official X account, the Vlad Tenev-spearheaded firm announced that Robinhood Crypto, a digital asset trading platform, will launch a Solana-staking feature in Europe.

Just in: @RobinhoodCrypto EU now supports Solana staking, introducing their first-ever crypto staking product!

Learn more https://t.co/aHXj1rgL8P

— Solana (@solana) May 15, 2024

“Robinhood Crypto is excited to announce a series of new features specifically designed for its customers in Europe, including staking, localized apps, crypto rewards for new customers, and updated Learn & Earn modules,” the company stated.

Through the Robinhood Crypto app, customers can now stake their Solana (SOL) holdings, granting them the opportunity to earn rewards while maintaining the flexibility to unstake as desired.

The company also announced a bonus program for new customers, wherein they can receive a 10% bonus on their net purchases during their initial 30 days on the platform, with bonuses disbursed in USDC stablecoins.

Infinex, a decentralized perpetual contract trading platform launched by Synthetix, has also announced its support for Solana.

Welcome @solana to the Infinex Account.

Solana support is now live.

https://t.co/SHkYi2Vdc7 pic.twitter.com/8WMwSxrJEE

— Infinex (@infinex_app) May 15, 2024

The integration of Solana into the Infinex platform opens up new opportunities for users, with the Total Value Locked (TVL) on the platform reaching 71,185,763.71 USDC since its launch. According to Infinex’s website, over 4.1 million USDC has already been locked in Solana.

Marginfi Reveals Solana’s First Liquidity Layer

In a May 15 announcement on X Marginfi, a decentralized portfolio margining protocol for trading on Solana revealed the L1 blockchain’s first Liquidity Layer.

Introducing Solana’s first Liquidity Layer

We’re excited to announce the evolution of marginfi: powering a radically new Layer for Performant DeFi

Here’s how we’re changing the game pic.twitter.com/I6rt0xD3wc

— marginfi (@marginfi) May 15, 2024

Described as a new layer for performant DeFi, Marginfi’s Liquidity Layer offers a range of integrated, native yields, including natural staking yield through LST, native token yield through mrgnlend, and native stablecoin yield through YBX.

The surge in SOL’s price coincides with broader gains across the crypto market, which has risen by 4.7% in the last day to reach a total market capitalization of $2.5 trillion.

At writing time, Bitcoin (BTC) is currently trading at $66,000, marking a 5.7% increase in the last 24 hours. Ethereum (ETH) has experienced a 3.3% increase and is now trading at around $3,000.

Decentralized blockchain network Internet Computer Protocol (ICP) has released a new roadmap for driving decentralized artificial intelligence (DeAI) and chain fusion in the web3 space.

According to an official statement sent to CryptoPotato, ICP is unveiling the Year 4 Internet Computer Roadmap to celebrate the third anniversary of its mainnet launch.

ICP Releases New Roadmap

The new roadmap summarizes three years of progress on ICP’s mainnet and outlines major development areas to position the network as the home of DeAI and the orchestration layer for the blockchain industry. Although the new roadmap outlines several focal areas, the biggest highlights are DeAI and chain fusion.

The DeAI roadmap describes a path where AI models would be trained to run on-chain, moving them beyond black boxes that offer users no visibility on how their data is being used. ICP’s AI smart contracts would be designed to optimize inference engines, boosting AI consistency, reliability, and responses.

ICP looks to achieve several long-term goals and introduce first-of-its-kind use cases through these new AI models. Some of them include ready-trained AI models traded as non-fungible tokens, AI smart contracts that verify the code of Ethereum smart contracts, and web3 communities that control AI models through decentralized autonomous organizations.

Dominic Williams, chief scientist and founder of Dfinity Foundation, the builder and main contributor to ICP, said:

“The Internet Computer is the first and only Third-Generation public blockchain. The mission is to drive a ‘blockchain singularity,’ where, over time, fully decentralized blockchains become the world’s prevailing tech stack, even running secure and unstoppable AI.”

Dealing With Liquidity Fragmentation

Furthermore, ICP’s chain fusion roadmap aims to facilitate direct interoperability with major blockchains like Bitcoin, Ethereum, Solana, and Ethereum Virtual Machines without intermediaries.

The chain fusion would solve the fragmentation of liquidity and tackle tribalism in the blockchain space, with ICP’s smart contracts enabling developers to create contracts spanning multiple chains by reading from and writing to them.

“The DFINITY Foundation and its eminent team of cryptographers, research scientists, and engineers is now pushing ahead with a new roadmap, crafting contributions that will make the network faster, more efficient, and more powerful than ever before,” added Williams.

Meanwhile, ICP boasts of having witnessed no downtimes since its mainnet launch in May 2021. The network has processed more than three billion blocks and accumulated over $3 billion in total locked value.

The United States Senate passed a resolution on Tuesday to scrap a de facto ban preventing the nation’s banks from offering crypto custody services.

The vote drew cautious optimism from Bitcoin’s most fervent supporters online and in Congress, who are still wary of a likely veto by the presidential office.

Will Crypto Banking Be Possible In The US?

As voted on Thursday afternoon, H.J.Res.109 certifies congressional disapproval of Staff Accounting Bulletin 121 (SAB 121), which was published by the Securities and Exchange Commission (SEC) two years ago.

The bulletin provides accounting guidance for publicly traded banks aiming to provide services safeguarding their customers’ crypto assets.

Critics of SAB 121 call it a “rule” merely disguised as “guidance” which makes it extremely cost-prohibitive and impractical to actually offer such services. House Rep Tom Emmer (R-Minn), for example, called the bulletin one of SEC chair Gensler’s “egregious attempts to expand SEC authority,” and a sign of his “clear bias toward the digital asset ecosystem.”

The resolution passed through the House of Representatives last week with 55% of votes in favor. Thursday’s senate vote was a more lopsided 60/38 split, with all Republicans voting in favor alongside 11 Democrats.

Getting Past Biden

Neither the House nor Senate votes scored a strong enough majority to overturn a veto, however – something President Joe Biden has already promised to do if and when it reaches his desk.

However, some are optimistic that Thursday’s result could make the administration change its mind. Many influential senators defected from party lines on the vote, such as Democratic caucus leader Chuck Schumer (D-NY).

“The bigger impact of this vote is on the agencies’ behavior,” tweeted Custodia Bank CEO Caitlin Long on Thursday, referring to the SEC’s crypto-hostile enforcement actions over the past year.

“This gives the people within the agencies who *HATE* what they’re doing the political backing to push back hard,” Long continued. “(Elizabeth Warren) will probably try to crack down even harder but she’s past her peak.”

Elizabeth Warren presented arguments on Thursday in support of SAB 121 and the SEC, claiming the bulletin merely advises banks to provide sensible disclosures about risks related to crypto custody.

The resolution marks the first-ever piece of purely crypto-focused legislation passed through both chambers of Congress.

(PRESS RELEASE – Victoria, Seychelles, May 16th, 2024)

Margex, a cryptocurrency trading platform boasting ultra-convenient and user-friendly copy trading, is excited to announce Kaspa deposit and withdrawal.

Kaspa is a blockchain technology that uses a proof-of-work (PoW) consensus mechanism and BlockDAG architecture to improve the scalability and validation of transactions within the shortest possible time at a low cost.

Margex is excited to announce its support for the Kaspa network, facilitating instant deposits and withdrawals. Users can now trade Kaspa tokens, alongside other listed tokens while also having the option to utilize leverage. Margex is committed to providing its users with the best trading experience.

$3 Million Spent on Margex Platform Upgrade

Additionally, Margex has spent $3 million redesigning its platform, introducing a zero-fee converter to enhance the user’s trading experience. The platform also allows users to explore the copy trading feature to replicate the trades of experienced traders.

Margex plans to launch its ultra-modern wallet to help users have complete control and secure their assets within the platform.

About Margex

Margex is a boutique cryptocurrency exchange established in 2019, providing users access to a safe, powerful, and convenient copy trading platform. Margex copy trading makes trading simple yet effective for traders of any experience level.

Users of all types can replicate the trades of professional traders with no experience required, while skilled traders can earn income by allowing other users to copy successful strategies.

With a minimum deposit of $10, traders can access all of Margex’s copy trading functionality, as it remains the most user-friendly platform in the crypto industry.

Users can follow Margex on Facebook, Twitter, Telegram, Discord, and YouTube, or join the Margex team