Crypto
The Sandbox and AAVE Supporters Shift to a Novel Cryptocurrency with Prospects of 150% Growth | Finbold
Press Releases are sponsored content and not a part of Finbold’s editorial content. For a full disclaimer, please . If you encounter any issues, kindly report them to [email protected]. Crypto assets/products can be highly risky. Never invest unless you’re prepared to lose all the money you invest.
TLDR
- Gucci digitally sets up shop in The Sandbox’s metaverse
- The parent company behind Aave rebrands to Avara
- Early adopters of Rebel Satoshi stand to gain 150% growth in their holdings after its presale
The Sandbox (SAND) and Aave (AAVE) are currently enjoying some intriguing developments. A popular Italian luxury brand has partnered with the former, while the parent company behind Aave will rename itself.
Despite this, some supporters have shifted to a more novel crypto to buy. It has 150% growth prospects, bringing rebellion to the ever-growing meme coin market.
Gucci LAND Is Now Available On Sandbox
The Sandbox metaverse is well-known for blending many pop culture and brand references into its ever-expanding virtual world. Now, Italian luxury fashion house Gucci has joined the party.
Users can now find the Gucci Cosmos LAND on The Sandbox mimicked after the real-life Gucci Cosmos at 180 Studios. According to the developers, gamers can explore decades of the luxury brand’s ‘history and iconic designs through an immersive interactive journey.’
Whether directly or indirectly, whale activity increased after this November 08, 2023 announcement. Based on data from Santiment, whales bought 30 million SAND (about $10.5 million in value) tokens between November 11 and November 16, 2023.
This correlates with the SAND price, which rose 24% from $0.38 to $0.47 before dropping to $0.41. Predictions suggest that SAND may begin 2024 worth at least $0.50, hitting a minimum yearly peak of $0.80.
Parent Company Behind Aave Rebrands To Avara
The parent company behind one of the best DeFi projects, Aave, has changed its name. Previously known as Aave Companies, it’s rebranding to Avara. Stani Kulechov, founder and CEO, believes ‘Avara’ is a better umbrella term as the group looks to expand its Web3 offerings.
Interestingly, ‘Aave’ is a Finnish term for ‘ghost.’ Avara is another Finnish-inspired name with definitions related to ‘extensive,’ ‘open,’ ‘spacious,’ and ‘inclusive.’ Ultimately, the developers believe Avara marks a new era for Aave.
Around the same time as the rebranding, the company also acquired the self-custodial Ethereum wallet, Family Wallet. This means the group’s products now include a capable wallet for users to send, receive, hold, and swap top crypto coins.
Price-wise, AAVE has reached high after high since mid-August 2023. The most recent was $110 on November 08, 2023, before dropping to $92.65. Most forecasts hint that AAVE will be worth $120-150 (or more) in 2024.
Let us now study the prospects of the meme token, Rebel Satoshi ($RBLZ), discreetly mentioned earlier!
A Cool 150% ROI Awaits Early Buyers Of Rebel Satoshi After Presale
While many meme tokens are based on Dogecoin and Shiba Inu, Rebel Satoshi has a universal message of courage in the face of unfair centralized systems. It’s a meme coin modeled after the defiance of Guy Fawkes and Satoshi Nakamoto.
The latter is the most influential, ushering in a much-needed digital era in money. It’s not only a single entity that can bring about revolutionary change but a team effort. Rebel Satoshi is for rebels, by rebels, intending to reach $100 million in market cap.
Like Aave, staking will encourage long-term holding and trading of the project’s utility token, $RBLZ. Users can earn above-average returns passively from ‘locking up’ their $RBLZ while strengthening the network.
$RBLZ is also necessary for other elements of the Rebel Satoshi ecosystem, like the Rebel Artefacts Vault. Explore a treasure trove of 9,999 NFTs in the form of collectibles and digital art themed about rebellion and Rebel Satoshi‘s story. Early adopters will also be ‘governors’ of the project, receive insider updates, and more.
Owning $RBLZ costs a low $0.010 in the Early Bird Round of Rebel Satoshi‘s presale. This is confidently expected to grow by 150% with a new value of $0.025.
For the latest updates and more information, be sure to visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram
Crypto
Crypto lender Genesis to return $3 billion to customers in bankruptcy wind-down
Crypto lender Genesis Global received a significant victory in bankruptcy court on Friday, securing approval for its liquidation plan that will return approximately $3 billion in cash and cryptocurrency to its customers. The ruling, however, delivers a blow to Genesis’s owner, Digital Currency Group (DCG), which will receive no recovery from the bankruptcy.
U.S. Bankruptcy Judge Sean Lane overruled DCG’s objection to the plan, which centred on the valuation of crypto assets. DCG argued that customer claims should be capped at the value of cryptocurrencies in January 2023, when Genesis filed for bankruptcy. Crypto prices have surged since then, with Bitcoin, for example, rising from $21,084 in January 2023 to its current price of around $67,000.
Judge Lane rejected DCG’s argument, stating that even with the lower valuation, Genesis would have to prioritise paying other creditors, including federal and state financial regulators with claims totalling $32 billion, before distributing funds to its equity owner.
“There are nowhere near enough assets to provide any recovery to DCG in these cases,” Judge Lane wrote in his ruling.
Genesis aims to return funds to customers in cryptocurrency wherever possible, although it lacks sufficient crypto assets to fully repay all outstanding claims.
Sean O’Neal, an attorney representing Genesis, refuted DCG’s assertion that customers could be paid in full based on the lower January 2023 valuations. “We don’t buy into the idea that claims are capped at the petition date value,” O’Neal stated.
Genesis initially estimated in February that it could repay up to 77% of the value of customer claims, subject to future fluctuations in cryptocurrency prices.
This court approval marks a significant step forward in the resolution of Genesis’s bankruptcy, providing much-needed relief to its customers while leaving its owner, DCG, without any financial recovery.
Crypto
Venezuela to shut down cryptocurrency mining farms
Venezuela’s Ministry of Electric Power announced it would disconnect all cryptocurrency mining farms from the national power grid (SEN, Sistema Electrico Nacional). The measure aims to control the high energy demand from these mining farms and ensure reliable service for citizens.
AlbertoNews, a local media outlet, reported the announcement on May 18.
“The purpose is to disconnect all cryptocurrency mining farms in the country from the SEN [National Electrical System], avoiding the high impact on demand, which allows us to continue offering an efficient and reliable service to all the Venezuelan people,”
the Ministry reported in its account in Instagram.
Notably, the announcement followed the seizure of 2,000 cryptocurrency mining machines in the country. This action is part of the government’s ongoing anti-corruption campaign. Leading to the arrests of several officials from state institutions.
Corruption with the National Superintendency of Cryptoassets
The National Superintendency of Cryptoassets (Sunacrip) has been under a restructuring board since the arrest of Superintendent Joselit Ramírez. Ramírez has connections to Tareck El Aissami, former Petroleum Minister and former president of Petróleos de Venezuela (PDVSA).
On that note, El Aissami was charged with treason, embezzlement, misuse of influence, money laundering, and criminal association.
Venezuela power grid issues and cryptocurrency mining
Venezuela has faced an ongoing electricity crisis since 2009, worsened by massive blackouts in 2019 that left cities without power for up to seven days. Frequent power outages have negatively affected the country’s quality of life and economic activities.
Therefore, Governor of Carabobo state, Rafael Lacava confirmed restrictions on cryptocurrency mining farms due to their significant electricity consumption. He urged residents to report illegal cryptocurrency mining operations to prevent power shortages.
“If you, neighbor, see a house that you know, tell that person to turn off the farm, or else report it, because when they turn off the light, because you have to give light to a man so that he can earn some reales (money), you are left without electrical service.”
– Rafael Lacava
As reported by AlbertoNews, experts attribute the crisis to poor maintenance and inadequate investment in the power grid. Meanwhile, the government blames sabotage and has promised to modernize the state-controlled power network.
Overall, Bitcoin (BTC) and cryptocurrency mining are known worldwide for their high energy consumption. Countries like China and Cazaquistan have banned the activity to preserve their power grids, centralizing mining in fewer locations.
Therefore, the fewer countries allowing this activity, the higher the security concerns will be, as a few miners dominate block discovery.
Crypto
Page not found – Bitcoin News
Ooops… Error 404
Sorry, but the page you are looking for doesn’t exist.
OUR LATEST POSTS
TRON DAO Adds Google Cloud as a Super Representative Candidate on…
Ghana’s Vice President Says His Government Aims to Become the First…
Empowering Web3 Users: UXLINK Partners With OKX Web3 Wallet for $UXLINK…
How DLCs Can Enable Defi Deposits and Fulfill Bitcoin’s Promise
Coinshares Reports Its Most Successful Quarter Ever in Q1
Okx Launches in Australia With Comprehensive Crypto Services
-
Finance1 week ago
Spring Finance Forum 2024: CRE Financiers Eye Signs of Recovery
-
World1 week ago
India Lok Sabha election 2024 Phase 4: Who votes and what’s at stake?
-
Politics1 week ago
Biden’s decision to pull Israel weapons shipment kept quiet until after Holocaust remembrance address: report
-
News1 week ago
The Major Supreme Court Cases of 2024
-
News1 week ago
Tornadoes tear through the southeastern U.S. as storms leave 3 dead
-
World1 week ago
A look at Chinese investment within Hungary
-
Politics1 week ago
Tales from the trail: The blue states Trump eyes to turn red in November
-
World1 week ago
Borrell: Spain, Ireland and others could recognise Palestine on 21 May