With an intelligently-designed airdrop, a focus on enterprise development and partnerships, and cross-chain functionality, the $SOURCE Blockchain is poised to quickly rise amongst the industry’s biggest and best.
On Thursday, August 4th, Source Protocol Ltd announced the test net launch of the next standout blockchain to hit the crypto market and the Cosmos ecosystem. Built as a highly efficient, scalable and permission-less blockchain network for interoperable dApp development, $SOURCE is bringing a Binance Smart Chain-based DeFi ecosystem and strategic enterprise partnership development to the Interchain. $SOURCE will be publicly-available for enterprises, developers and individuals to create and use scalable dApps, smart contracts and tools for Web 3.0, DeFi, NFTs, P2E, privacy networks, DeSci, and more.
Read more on Source Protocol’s advanced blockchain ecosystem: A Web 3.0 Tech Suite for Individuals, Developers and Enterprises
According to the team’s CEO, innovative plans have been set in motion to introduce new market share to the blockchain industry at large, with $SOURCE and Source DeFi Suite’s focus on bridging the gap between existing Web 2.0 solutions and Web 3.0. These plans already involve building infrastructure for mortgage data servicing companies, a top tier metaverse, white-labeled DeFi banking services, among others. The $SOURCE team is also currently working with partners to establish a strong presence in many regions including the United States, Dubai, Central Europe, South America, and Japan. The $SOURCE testnet is already onboarding dozens of validators in preparation of the chain’s airdrop and mainnet launch later this year.
A New Approach to Airdrops is Needed
A blockchain’s airdrop plays a critical role in establishing a strong foundation for the chain at the date of genesis. A successful airdrop bootstraps a blockchain’s decentralization to a large group of engaged users while simultaneously inviting them to contribute and participate in the new community network.
All Cosmos Hub blockchains have different strategies on how they approach their genesis distribution airdrop. There is controversy in how airdrops are done as $ATOM “whales” typically continue to receive the majority of each new project’s tokens, and users continually find ways to skirt the rules or “game” the airdrop. This limits distribution and decentralization at genesis. For example, if there is a whale-cap (which limits the amount of coins that can be distributed to any individual wallet address in an airdrop), people can spread their $ATOM to multiple addresses, and therefore avoid the impact of any whale cap. They can later consolidate all of their tokens and have a significant advantage over other delegators. This allows them to diminish the project’s value by continuously liquidating their staking rewards. The $SOURCE team is familiar with these greedy and malicious practices, and has designed a unique airdrop model that will be the most rewarding for the already existing and active #SourceForce community.
The $SOURCE-Drop airdrop has been carefully designed to provide maximum benefit to Source Protocol community members that already hold both Source Token $SRCX (Source Protocol’s Automated DeFi market rewards token, BEP-20) and Cosmos Hub $ATOM. SRCX should be held in decentralized wallet like Metamask, Trust or Binance Smart Chain wallet, and ATOM should be held in the Keplr wallet. Registering both your ATOM and SRCX wallet addresses in the Source Web 3.0 app via wallet connect will be required in order to participate.
The $SOURCE-Drop will be whale-capped and will not be game-able. The amount of $SOURCE claimable will be determined by the combined average wallet weight of a holder’s ATOM and SRCX balances. Wallet weight is determined by the proportion of a user’s wallet holdings to circulating supply. If no SRCX is held, a zero will be registered in the calculation and this will significantly reduce the quantity of $SOURCE received for ATOM holders that do not hold SRCX. This creates a scenario where even the largest ATOM whales will receive significantly less $SOURCE than a participant that also holds SRCX. Likewise, SRCX holders that do not register an ATOM address on the claiming app will not be able to receive the $SOURCE-Drop as a Cosmos Hub $ATOM address is needed (via Keplr wallet) to generate the new $SOURCE blockchain public address.
***ATOM and SRCX held on centralized exchanges will not be eligible for the SOURCE-Drop.
Multiple snapshots of SRCX and ATOM will be used to calculate the amounts claimable. No snapshot dates will be announced to avoid any gamification. This rewards the true believers and community members of both ATOM and SRCX that are holding long term. This strategy is designed to enable a truly decentralized Web 3.0 ecosystem, rewards those who are loyal to the vision of Cosmos Hub’s “internet of blockchains” and #SourceForce communities, and to create a greater appreciation for recipients of the $SOURCE-Drop.
Contributors and participants to the $SOURCE testnet will also be eligible to receive bonus $SOURCE from active participation such as creating a wallet, setting up a validator node on $SOURCE testnet, launching a smart contract, etc. Additional contributions and active participation by community members will also be rewarded. For more information about the $SOURCE blockchain, click here.
To prepare for the SOURCE-Drop, be sure to install the Keplr wallet and use it to store your ATOM. Source Token (SRCX) can be purchased on PancakeSwap and stored in Trust Wallet, Metamask, or Binance Smart Chain Wallet. Visit the Source Protocol website here to follow the tutorial if needed
The Cardano price has followed the general sentiment across the market and traded to the downside over the past week. The cryptocurrency lost its spot as one of the valuables in the crypto top 10 by market capitalization and could be poised to see further losses.
At the time of writing, the Cardano price trades at $0.43 with a 6% loss and 2% loss over the last 24 hours and 7 days, respectively. As ADA trades to the downside, some major cryptocurrencies have been able to score profits and are showing strength against the general market sentiment.
Charles Hoskinson Celebrates, While The Cardano Price Stalls
The Cardano price weakness is more evident as the cryptocurrency failed to react to recent events that were prompting bullish expectations for market participants. First, is the Ethereum “Merge”, the event that completed its transition to Proof-of-Stake (PoS).
“The Merge” failed to provide bullish momentum for PoS cryptocurrencies, such as Cardano. In step, Proof-of-Work (PoW), such as Ravencoin (RVN) and Ethereum Classic (ETC), benefited from the anticipated post-Merge rally.
In addition, the Cardano network was preparing to deploy a major update on its mainnet via a Hard Fork Combinator (HFC) event called “Vasil”. One of its most important milestones since the implementation of smart contract capabilities with HFC “Alonzo”, the recent upgrade was overlooked by market participants.
Across social media, the Cardano community celebrated the network’s fifth birthday. Its inventor Charles Hoskinson posted a celebration video via Twitter, but again this event failed to provide bullish momentum for ADA’s price action. Hoskinson said the following on the network’s growth since its inception:
There are over 3,228 smart contracts to our knowledge that have been deployed on Cardano, and as of September 15, 2022, 50 million transactions. Where we regularly are in the top three to top five of transaction volume on a daily basis and usually are number one for GitHub commits (…)
Who Is Contributing With The Selling Pressure For The Cardano Price?
The Cardano price has been stuck in its current levels forming a channel with a bottom at $0.43 and a top at $0.51. This channel was created in late August, and if bulls can defend these levels, ADA’s price might enjoy a late birthday rally and aim for $0.51 or beyond if the momentum allows it.
However, with the crypto market showing weakness and with current macro conditions proving unfavorable for risk-on assets, ADA might break out of this channel and trend lower. In order to prevent this scenario, the Cardano price must stay above $0.41.
Data from Material Indicators shows that investors with selling orders of $1,000 to $10,000 have been dumping ADA over the past weeks. In addition, the Cardano price has seen low buying pressure from other investors. This status quo must change to support the price and aim for $0.51.
Crypto.com has been registered as a Digital Asset Service Provider by the AMF in France.
Customers in France will be able to access a range of goods and services from the exchange.
Crypto.com, the leading cryptocurrency exchange platform has recently announced that it has been registered by the Autorité des marchés financiers (AMF) in France as a Digital Asset Service Provider (DASP) following clearance from the Autorité de Contrôle Prudentiel et de Résolution (ACPR).
Kris Marszalek, CEO of Crypto.com stated:
The European market is central to the long-term growth and success of Crypto.com and we are tremendously proud to now receive registration in France from the AMF. We look forward to continuing to work with the AMF and the ACPR as we introduce our products and services in France, offering users a comprehensive, safe, and secure crypto platform.
With this registration, the platform will offer a range of goods and services for customers in France, in compliance with regional regulatory laws.
Crypto.com Keeps Expanding
The UK Financial Conduct Authority (FCA) recently approved the registration of Crypto.com. The platform previously announced that it has obtained an Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea. Also, the exchange received regulatory approval from Cyprus’ Securities and Exchange Commission (CySEC) in July.
The Singapore-based exchange firm, Crypto.com is continuously adopting multiple strategies to expand its services across the globe. The platform has more than 50 million users globally.
Is Dr. Ruja Ignatova the cryptocurrency world’s biggest scammer? The competition is fierce, there are so many faces and stories fighting for that spot, but none of them is on the FBI Most Wanted List. Dr. Ruja is. Great, but, why is NewsBTC revisiting the 2019 true crime podcast “The Missing Cryptoqueen”? Because Jamie Bartlett, the journalist behind the project, just released a new episode.
Episode 10 of The Missing Cryptoqueen is now out.
The hunt it back on: Israel, Dubai, Luxembourg, The Eurovision Song Contest & Krispy Kremes.
Is there new information? Did they FIND Dr. Ruja Ignatova? The only thing we know for sure is that there’ll be a few new episodes, and that’s all we needed to hear. A BBC production, “The Missing Cryptoqueen” features various music and sound design, witness testimonies, interviews, and sound bites. There’s even original music in this podcast extravaganza.
NewsBTC will produce companion pieces for each of “The Missing Cryptoqueen.” With summaries, quotes from the episode, and extra material from all over the web, this is the feature people didn’t know they needed. Have this window open as you listen to each episode, it’ll enhance the already phenomenal experience.
You can download episodes directly at the BBC, or listen to “The Missing Cryptoqueen” through Apple, Spotify, or iVoox.
About Episode One – Dr. Ruja
This is the introductory episode, it presents Dr. Ruja Ignatova and the OneCoin world. We feel the size of the scam, we hear the people that fell for it and the true believers. It begins with Bitcoin and Satoshi Nakamoto’s story, goes to a OneCoin seminar in Mbarara, a town in Western Uganda, and ends with Dr. Ruja’s disappearance in October 2017.
In “The Missing Cryptoqueen’s” first episode also shows us what a charismatic leader could do with bitcoin’s story and narrative. If Dr. Ruja Ignatova didn’t plagiarize, she at least was heavily inspired by Satoshi Nakamoto’s mystique and discourse. Using quotes from her speeches, we hear Dr. Ruja speaking about a rotten financial system and corrupt banking institutions. About the possibility of banking the unbanked and what that would do for the world. About bitcoin’s pizza day story and how that could happen to them.
However, Dr. Ruja’s OneCoin was better than bitcoin. It was here to replace it, in fact.
Whenever you hear that, run. That should’ve been the witnesses’ first warning. In episode one, we hear about the OneLife network. The social part of the scam. We hear from a UK victim who assisted to the webinars, from a OneLife employee and insider, and we listen to an African song about OneCoin. There’s emotion in all of their voices. And an open wound.
Near the end, we hear about 2017 and Dr. Ruja’s disappearance from people that were there at the scene. What happened? So far, there are nine more episodes of BBC’s “The Missing Cryptoqueen.” Let’s cover them all.
BTC price chart for 09/28/2022 on Bitstamp | Source: BTC/USD on TradingView.com
Quotes From Ep. 01 – “Dr. Ruja”
“Then, in late 2017, Dr. Ruja disappeared. One of Europe’s richest women, a woman who seemed destined to change the world had vanished.”
“It was impossible not to be impressed by Dr. Ruja. She appeared on the front cover of prestigious business magazines, she has degrees from Oxford and Konstanz University and is fluent in several languages.”
“Thousands of people were filling stadiums to hear Dr. Ruja talk, to buy OneCoin and join this financial revolution.”
“But in October 2017, there was a big OneCoin event in Lisbon, Portugal and Dr. Ruja was scheduled to speak.”
Extra Material And Episode Credits
This guide’s extra material comes courtesy of the podcast series’s IMDB page. In the description, IMDB gives us a good overview of what to expect from “The Missing Cryptoqueen.”
“Dr Ruja Ignatova called herself the Cryptoqueen. She told people she had invented a cryptocurrency to rival Bitcoin, and persuaded millions to join her financial revolution, investing billions. Then she disappeared. Why? Jamie Bartlett spent months investigating how she did it for the Missing Cryptoqueen podcast, and trying to figure out where she’s hiding.”
This 2019 clip with producer Georgia Catt also qualifies as a trailer for what’s to come:
“She created this vision of herself using a bit of truth and a bit of fabrication, to create a convincing business genius…”
Presenter: Jamie Bartlett Producer: Georgia Catt Story consultant: Chris Berube Editor: Philip Sellars Original music and sound design: Phil Channell Original music and vocals: Dessislava Stefanova and the London Bulgarian Choir
You’re part of NewsBTC’s “The Missing Cryptoqueen’s” listening group by just reading these guides. Let’s explore Dr. Ruja Ignatova’s world together.
Featured Image: “The Missing Cryptoqueen” logo from the BBC's site | Charts by TradingView
Fantom (FTM) bounces back with a 5% rally in over 24 hours after it hit a massive low yesterday. On-chain metrics hint at a bull run. Still, buyers are still advised to be extra cautious.
FTM rallied 5% in the past 24 hours
Fantom’s on-chain metrics hinting a bullish movement
FTM experiencing strong selling pressure
FTM bulls are still trying to push through the resistance. Evidently, the downward movement in the past couple of weeks highlights that the lower timeframe is generally bearish.
Fantom Down Since August
Judging by the 12-hour chart, FTM is seen to spiral downward which has been in progress since August when Fantom breached below $0.38 as it retests the $0.33 resistance zone and key support at $0.286.
A higher timeframe range was also spotted on the charts from $0.31 to $.53. Notably, the $0.412 range has been the resistance and support level as seen since May.
The two-hour chart for FTM reveals that another range may be formed. One was able to reach the range of $0.242 to 0.217.
According toCoinMarketCap, FTM price has slumped by 5.41% or trading at $0.2221 as of this writing.
While there is a possibility of a breach, the positioning of FTM sets it for a downtrend, especially with the increase in selling opportunities.
FTM RSI At 64, Hinting At A Bullish Movement
The crypto’s relative strength index peaking at 64 shows an obvious bullish movement with the OBV moving sideways as seen in the past week. With that in mind, even with FTM bouncing back from its low, both the price action and OBV aren’t hinting at any breakout at this point.
The resistance zone which worked as the key support in September could make significant strides again in the next couple of hours.
While buying FTM is a tempting feat it will only be an advantage when you do so under certain circumstances like a bullish market. However, Fantom is not shooting for a long-term range and is in fact even leaning towards a long-term downtrend.
A low-risk short may be apparent in the $0.244 range. An hourly session that closes above the $0. 251 zone will invalidate the bearish momentum. The bearish targets are spotted right at the middle of the range and include their lows.
FTMUSD pair trading at $0.2245 on the daily chart | Source: TradingView.com
Featured image from Zipmex, Chart: TradingView.com
After receiving approval from the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the world’s fastest-growing cryptocurrency platform, Crypto.com, announced today that it has been registered in France as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF).
To acquire regulatory permission, Crypto.com underwent a comprehensive evaluation, with a focus on anti-money laundering and countering the funding of terrorism. With this registration, Crypto.com will offer clients in France a range of goods and services that are compliant with regional laws.
The European market is crucial to Crypto.com’s long-term expansion and success, thus CEO Kris Marszalek expressed his immense pride in the company’s recent AMF registration in France.
Kris Marszalek, CEO of Crypto.com said:
“The European market is central to the long-term growth and success of Crypto.com and we are tremendously proud to now receive registration in France from the AMF. We look forward to continuing to work with the AMF and the ACPR as we introduce our products and services in France, offering users a comprehensive, safe and secure crypto platform.”
With more than 50 million users globally, Crypto.com actively expands its ecosystem. Today’s approval is another feather in the hat after receiving in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore, registration approval as a cryptocurrency business from the UK Financial Conduct Authority (FCA), provisional approval of its Virtual Asset License from the Dubai Virtual Assets Regulatory Authority, Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea, registration in Italy from the Organismo Agenti e Mediatori (OAM), registration in Greece from the Hellenic Capital Market Commission, registration in Cyprus from the Securities and Exchange Commission, regulatory approval from the Cayman Islands Monetary Authority, and a pre-registration undertaking with the Ontario Securities Administration in Canada.
Anonymous has pledged to deploy a team for more findings.
Yuga Labs co-founder Greg Solano denied all claims.
The most popular NFT project, Bored Apes Yacht Club powered by Yuga Labs, has been under scrutiny from the hacktivist group Anonymous for what the group claims is the use of racist, fascist, and even pedophilia-related symbolism in their digital artwork.
According to the organization, BAYC NFTs “are infected with not one or two but with dozens of examples of esoteric symbolism and dog whistles reflecting nazism, racism, simianization, and paedophilia support.”
Multiple Degree of Allegations
The statement claims that the group felt it necessary to consider “before publicly citing our take on the allegations” by reviewing extensive documentation and speaking with many key players.
This proves “beyond a shadow of a doubt” that the BAYC and Yuga Labs were responsible for the concealment of these mysterious signs as per the organization. Furthermore, it said that individuals who dismiss its claims as “conspiracy theory” are “simply ignorant,” “not versed,” or “at a financial conflict of interest.”
In the video, Anonymous makes reference to holders, investors, partners, and prominent fans of BAYC and Yuga Labs.
Throughout the remainder of 2022 and into 2023, Anonymous has pledged to deploy a team “whose sole job will be to bring awareness to the findings and questions about the Bored Ape Yacht Club NFT collection.”
Andreessen Horowitz, Mark Cuban, Neymar Junior, Kevin Hart, Shaquille O’Neal, and other celebrities, as well as major corporations including Lion Tree, Adidas, Tiffany & Co., and others, were targeted for investment.
According to a Medium article published by Yuga Labs co-founder Greg Solano in June, the firm was falsely accused of employing “super-secret Nazis” since its members included Jews, Turks, Pakistanis, and Cubans.
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