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Layer-1 Blockchain Berachain Raised $100 Million in Funding Led by Brevan Howard Digital

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  • Berachain, a layer-1 blockchain built on Cosmos technology, has secured $100 million in Series B funding in a round.

Berachain, a layer-1 blockchain built on Cosmos technology, has secured $100 million in Series B funding in a round led by investment management platform Brevan Howard Digital and crypto-native venture capital firm Framework Ventures. 

Other notable backers include Polychain Capital, Samsung Next, Hack VC, and Hashkey Capital, with angel investors such as Sandeep Nailwal, co-founder of Polygon, and Yat Siu, Chairman of Animoca Brands.

Berachain gained traction following its transition from an NFT project called Bit Bears, which initially started as a fun endeavor but evolved into a successful venture with a dedicated community. 

The recent launch of the Berachain testnet saw impressive utilization, with over 300,000 users and 1 million transactions processed within the first 48 hours.

See Also: Doctor Doge (DRDOGE) to Rally Over 8,000% Within 48 Hours as it Prepares to Challenge SHIB and DOGE

The funding round, which involved a Simple Agreement for Future Tokens (SAFT) agreement, came shortly after Monad Labs’ announcement of a $225 million raise for its own layer-1 chain. 

Berachain plans to utilize the funds to bolster economic growth initiatives, enhance engineering resources, and expand its global presence in regions such as Hong Kong, Singapore, Southeast Asia, Latin America, and Africa.

Berachain is an EVM-compatible layer-1 blockchain built using the Cosmos SDK. 

The blockchain employs the proof-of-liquidity consensus mechanism, which builds upon proof-of-stake while addressing its limitations. 

Users of Berachain can earn Bera Governance Tokens (BGT) by providing liquidity to pools using the network’s native BERA tokens. 

This model aims to enhance security through increased liquidity, decentralize inflation, and align all participants in the ecosystem.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Press Release

Fordefi Expands Powering Pintu Web3 Wallet

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Crypto and decentralized finance wallet provider Fordefi said Wednesday it is expanding to the booming Indonesian market with powering local cryptocurrency trading platform Pintu’s web3 wallet offering.

The move is part of Fordefi’s plan to extend its wallet service, mostly used by institutional participants such as Pantera Capital and market maker Keyrock, to exchanges, fintech platforms that serve retail investors.

Pintu’s 20 million users will be able to self-custody their digital assets and access decentralized applications with Fordefi’s tech in the backend, while benefiting from security features such as transaction simulation and risk alerts.

Fordefi aims to make crypto safer with its self-custodial wallet with multi-party computation (MPC) that divides a single private key among multiple parties, eliminating a single point of failure. MPC wallets are harder to hack and make interaction with DeFi apps less risky.

The company has onboarded institutional investors such as Pantera Capital, DeFiance Capital, Keyrock and Flare Network to its wallet offering. It also raised $10 million from venture capital investors led by Electric Capital earlier this year.

“The lack of security and guardrails in place for retail investors has stifled Web3 adoption,” Josh Schwartz, CEO of Fordefi, said in a statement. “With Fordefi, retailers can leverage the same security infrastructure used by the most sophisticated institutions in the market.”

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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When Can Dogecoin (DOGE) Double in Price? Analysts Weigh In

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  • The price of Dogecoin (DOGE) is up 10% in two weeks. Analysts see potential for further gains if it breaks resistance at a certain level.
  • Some essential indicators, such as the RSI ratio, suggest potential for a rally in the short term.

Is DOGE Ready to Soar?

The biggest meme coin in terms of market capitalization – Dogecoin – remains one of the hottest topics in the cryptocurrency sector due to the substantial number of DOGE investors. 

Its price currently hovers at the $0.165 mark (per Coinstats’ data), a 10% spike on a two-week scale.

DOGE Price Chart | Source: Coinstats

 

Multiple analysts believe the uptrend could continue should important price levels be overcome. One person sharing that thesis is the X user, Ali Martinez. 

He claimed that DOGE faces “significant resistance” between $0.166 and $0.171, where 75,000 addresses have accumulated approximately 10 billion assets. 

“However, once this barrier is overcome, DOGE has the potential to double, with the next key resistance around $0.322,” he assumed.

Dogecoin crossed the aforementioned zone a few days ago, and it will be interesting to see whether it can do that again in the following days.

The Crypto Dog and Nebraskangooner also gave their two cents on DOGE. The former acknowledged that the meme coin is “slow and boring” compared to recently emerged cryptocurrencies but maintained it still has a chance to shine. 

“Should be some exciting days ahead, and reckon it will outperform Bitcoin,” the analyst predicted.

Nebraskangooner was bullish, too, forecasting a “meme-pump action soon” as long as DOGE stays above the major resistance zone of approximately $0.16.

What Signals About an Incoming Rally?

One important metric that hints at whether DOGE might experience a price increase in the short term is the exchange netflow. 

Outflows have surpassed inflows in the past 24 hours (according to IntoTheBlock), showing a shift from centralized platforms toward self-custody methods. 

This is considered bullish since it reduces the immediate selling pressure.

Another indicator worth observing is the DOGE Relative Strength Index (RSI). The technical analysis tool is used to measure the magnitude of recent price changes to evaluate overbought or oversold conditions in the market. 

It ranges from 0 to 100, with a ratio above 70 suggesting the asset might be poised for a pullback. The latest data shows that RSI stands at around 49.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Crypto Bridge Protocol, LayerZero, Connects to Solana Blockchain

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Crypto bridging protocol LayerZero is set to expand to the Solana blockchain on Wednesday, adding another route for crypto assets transferring between the Ethereum world and its largest singular competitor.

Crypto holders on Solana will be able to move their assets to Arbitrum, Ethereum, Polygon and the 70 other chains it links to – and vice-versa, Layer Zero Labs, the company developing the bridging protocol, said.

LayerZero is a so-called bridging platform: a messenger between blockchains that don’t naturally communicate with each other. 

Its users moved $6.7 billion worth of cryptocurrencies in the first quarter of 2024, generating $11.5 million in revenue, according to research outfit Messari.

Private venture investors valued LayerZero Labs at $3 billion in a major funding round announced in April. The protocol is expected to issue its own token shortly.

Solana, whose native token $SOL is the fifth-largest cryptocurrency by market cap per Coinstats, has three other major bridging protocols that link it to the far-larger Ethereum ecosystem, most notably Wormhole.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

#Binance #WRITE2EARN



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