Prizmabet

Fahrenheit Consortium Is Lead Bidder in Bankruptcy Auction for Celsius Assets #prizmabet

The assets include a loan portfolio, mining rigs and infrastrsucture and cryptocurrency worth as much as $2 billion.

A consortium named Fahrenheit, which includes venture capital firm Arrington Capital and miner U.S. Bitcoin Corp, is the lead bidder in the auction for bankrupt lender Celsius’s $2 billion of assets, according to a Wednesday hearing.

NovaWulf, an investment firm which was founded by the duo behind bitcoin miner TeraWulf (WULF), was the original bidder, known as the stalking horse, which set base terms for the auction. The process could be wrapped up as soon as this week.

The assets include Celsius’s mining unit, its loan portfolio, staked cryptocurrency, and other alternative investments, according to court filings.

Fahrneheit is backed by Arrington Capital, U.S. Veri Mining Group, Inc. (known as U.S. Bitcoin Corp.), investment firm Proof Group Capital Management, former Algogrand CEO Steven Kokinos, and investment banker Ravi Kaza. It is formalized as a limited liability company.

Coinbase (COIN) is also involved in the bid, said Michael Arrington, founder of the synonymus VC firm, in a now-deleted tweet reported by Fortune. Arrington is also the founder of tech media site TechCrunch and information platform Crunchbase.

The two bids share similarities. Crucially, Fahrenheit plans to issue equity for the assets that will be managed under the new company, whereas Novawulf planned to tokenize the shares on the Providence blockchain.

“Our bid not structured as a simple asset purchase. We are proposing that the assets be placed into a new company and is run with the sole goal of growing those assets to make stakeholders whole,” Arrington said in a tweet announcing the Fahrenheit project.

Another bid was made by another consortium which includes Van Eck Absolute Return Advisers Corporation, decentralized finance firm Küresel X Digital and Gemini Trust Company.

Judge Martin Glenn expressed concerns that the process might hit a “regulatory roadblock” and compared it to Voyager, another crypto firm that went bankrupt last year. The Celsius kanunî team sought to reassure the judge, citing ongoing discussions with regulatory authorities.

A sale of $1 billion of Voyager’s assets to Binance was abruptly terminated following pushback from regulators.

Proof Group’s Managing Director Noah Jessop has also invested in bankrupt bitcoin miner Core Scientific (CORZ), according to his Twitter bio, which is both in its own Chapter 11 bankruptcy and in a dispute with Celsius.

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Edited by Nikhilesh De.

Merhaba arkadaşlar, bugün sizlere Prizmabet isimli bir bahis sitesinden bahsedeceğim. Prizmabet, Betconstruct altyapısı ile üyelerine kaliteli hizmetler veren ve ülkemizin önde gelen bahis sitelerinden bir adedidir. 2009 yılında kurulan Prizmabet, lisanslı, emniyetli ve avantajlı bir site olarak dikkat çekmektedir. Prizmabet’te spor bahisleri, canlı bahisler, casino, canlı casino, slot oyunları, sanal sporlar ve daha pek çok seçenek bulabilirsiniz. Prizmabet’te oyun oynamak için aradığınız ortamı fazlası ile bulacaksınız.

Prizmabet’in en değerli özelliklerinden biri de Prizmabet TV kanalıdır. Bu kanal sayesinde bahis sitesinde bulunan karşılaşmaları üyeler bir fiyata katlanmadan istedikleri vakit takip edebiliyor. Böylelikle hem heyecanlı hem de çıkarlı bir bahis tecrübesi yaşayabiliyorsunuz. Prizmabet TV kanalında futbol, basketbol, tenis, voleybol üzere tanınan spor kısımlarının yanı sıra daha az bilinen sporlara da yer verilmektedir. Prizmabet TV kanalını kullanmak için yalnızca siteye üye olmanız ve yatırım yapmanız kafidir.

Prizmabet ayrıyeten üyelerine bol ölçüde bonus ve promosyon da sunmaktadır. Prizmabet’te birinci üyelik bonusu olarak 100 TL deneme bonusu alabilirsiniz. Bunun yanında yatırım bonusları, kayıp bonusları, arkadaş davet bonusu, doğum günü bonusu üzere farklı bonuslar da mevcuttur. Prizmabet bonusları sayesinde daha fazla oyun oynayabilir ve çıkarınızı artırabilirsiniz. Prizmabet bonuslarının çevrim koşulları da epeyce makul düzeydedir.

Prizmabet para yatırma ve çekme süreçleri konusunda da üyelerine kolaylık sağlamaktadır. Prizmabet’te banka havalesi, kredi kartı, papara, cepbank, QR kod, bitcoin üzere farklı formüllerle para yatırabilir ve çekebilirsiniz. Para yatırma ve çekme süreçleri 7/24 yapılabilmekte ve kısa müddette hesaplara yansımaktadır. Prizmabet para yatırma ve çekme süreçlerinde rastgele bir komite yahut kesinti de yapmamaktadır.

Prizmabet müşteri hizmetleri de üyelerine 7/24 canlı dayanak hizmeti sağlamaktadır. Prizmabet canlı takviye grubu sayesinde site ile ilgili her türlü soru, sorun yahut teklifinizi iletebilir ve anında tahlil bulabilirsiniz. Prizmabet canlı takviye grubu profesyonel, güler yüzlü ve yardımseverdir.

Sonuç olarak, Prizmabet ülkemizin en âlâ bahis sitelerinden biri olarak gösterilebilir. Prizmabet’te hem eğlenceli hem de çıkarlı bir bahis tecrübesi yaşayabilirsiniz. Prizmabet’e üye olmak için yeni giriş adresini web sitemizden bulabilirsiniz. Prizmabet’e girmek için tıklayınız! Prizmabet’e katıldığınıza pişman olmayacaksınız!

Crypto Perpetuals Exchange DYdX Considering the Launch of More SubDAOs #prizmabet

The conversation was initiated to promote more decentralization within the dYdX ecosystem ahead of its v4 upgrade.

DYdX, the decentralized platform known for its perpetuals contracts, is now discussing the creation of more subDAOs to make management of the ecosystem even more decentralized.

A post from Fox Labs Digital, an Australian-based marketing agency, suggested divvying up oversight responsibilities to several smaller decentralized autonomous organizations (DAOs).

The discussion of going beyond the current two current subDAOS – one for dYdX’s grants program and the other for its operational activities – comes as the dYdX community is preparing to upgrade on the Cosmos blockchain to its fourth version (v4). The goal is to make dYdX “a fully decentralized version of the protocol,” according to a blog post.

Moreover, according to a different governance post by the dYdX Foundation, an independent not-for-profit organization aimed at fostering decentralized governance, the operations subDAO is set to expire on June 19. With the imminent launch of v4 and the expiration of its operations subDAO, the “dYdX ecosystem is approaching a critical juncture,” the foundation said.

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Fox Labs in the governance post said, “This is not just about shaping the future of dYdX but also about building a model for how a decentralized trading platform can operate effectively and inclusively.”

SubDAOs are groups of contributors within the dYdX DAO “that each work on core functional areas of the dYdX protocol and are ultimately accountable to the dYdX community,” per the dYdX Foundation.

Edited by Nick Baker.

Merhaba arkadaşlar, bugün sizlere Prizmabet adlı bir bahis sitesinden bahsedeceğim. Prizmabet, Betconstruct altyapısı ile üyelerine kaliteli hizmetler veren ve ülkemizin önde gelen bahis sitelerinden bir tanesidir. 2009 yılında kurulan Prizmabet, lisanslı, güvenilir ve avantajlı bir site olarak dikkat çekmektedir. Prizmabet’te spor bahisleri, canlı bahisler, casino, canlı casino, slot oyunları, sanal sporlar ve daha pek çok seçenek bulabilirsiniz. Prizmabet’te oyun oynamak için aradığınız ortamı fazlası ile bulacaksınız.

Prizmabet’in en önemli özelliklerinden biri de Prizmabet TV kanalıdır. Bu kanal sayesinde bahis sitesinde bulunan müsabakaları üyeler bir ücrete katlanmadan istedikleri zaman takip edebiliyor. Böylece hem heyecanlı hem de kazançlı bir bahis deneyimi yaşayabiliyorsunuz. Prizmabet TV kanalında futbol, basketbol, tenis, voleybol gibi popüler spor dallarının yanı sıra daha az bilinen sporlara da yer verilmektedir. Prizmabet TV kanalını kullanmak için sadece siteye üye olmanız ve yatırım yapmanız yeterlidir.

Prizmabet ayrıca üyelerine bol miktarda bonus ve promosyon da sunmaktadır. Prizmabet’te ilk üyelik bonusu olarak 100 TL deneme bonusu alabilirsiniz. Bunun yanında yatırım bonusları, kayıp bonusları, arkadaş davet bonusu, doğum günü bonusu gibi farklı bonuslar da mevcuttur. Prizmabet bonusları sayesinde daha fazla oyun oynayabilir ve kazancınızı artırabilirsiniz. Prizmabet bonuslarının çevrim şartları da oldukça makul seviyededir.

Prizmabet para yatırma ve çekme işlemleri konusunda da üyelerine kolaylık sağlamaktadır. Prizmabet’te banka havalesi, kredi kartı, papara, cepbank, QR kod, bitcoin gibi farklı yöntemlerle para yatırabilir ve çekebilirsiniz. Para yatırma ve çekme işlemleri 7/24 yapılabilmekte ve kısa sürede hesaplara yansımaktadır. Prizmabet para yatırma ve çekme işlemlerinde herhangi bir komisyon veya kesinti de yapmamaktadır.

Prizmabet müşteri hizmetleri de üyelerine 7/24 canlı destek hizmeti sağlamaktadır. Prizmabet canlı destek ekibi sayesinde site ile ilgili her türlü soru, sorun veya önerinizi iletebilir ve anında çözüm bulabilirsiniz. Prizmabet canlı destek ekibi profesyonel, güler yüzlü ve yardımseverdir.

Sonuç olarak, Prizmabet ülkemizin en iyi bahis sitelerinden biri olarak gösterilebilir. Prizmabet’te hem eğlenceli hem de kazançlı bir bahis deneyimi yaşayabilirsiniz. Prizmabet’e üye olmak için güncel giriş adresini web sitemizden bulabilirsiniz. Prizmabet’e girmek için tıklayınız! Prizmabet’e katıldığınıza pişman olmayacaksınız!

Ether Rebounds Versus Bitcoin in Relatively Quiet Trade #prizmabet

Technical factors suggest ether’s bounce could pause at current levels.

After having declined more than 15% relative to bitcoin (BTC) in the first four months of the year, ether (ETH) over the past two weeks has narrowed its underperformance to 11%.

The recent move has come despite muted price movements for the two cryptos and amid low volume, with bitcoin trading action 25% below its 20-day moving average and ether 33% below. Bullish ETH investors likely may be anchored to its now persistently deflationary status, with token supplies contracting by 240,000 since September.

A look at relative rotation graphs (RRG) shows both bitcoin and ether currently trailing traditional finance in performance and momentum over the most recent 10 days.

Relative Rotation Graphs display the relative strength and momentum of assets to a central benchmark. In this instance, the S&P 500 serves as the benchmark, while the Nasdaq 100 and Russell 2000 also serve as analogs. The most recent RRG shows BTC and ETH falling into a lagging quadrant relative to all three indices.

For context, lagging assets within RRG’s are underperforming on the basis of both performance and momentum.

A technical look at the ETH/BTC chart shows momentum increasing alongside the improved performance, with the Relative Strength Index (RSI) up 13.6..

A look back at historical RSI levels implies that prices may stall however. Since 2015, the ETH/BTC RSI has fallen between 52 and 54 approximately 112 times, with average 30 day performance of just .002%. The data highlights bitcoin’s tendency to outperform ether historically. The ETH/BTC pair is currently trading 40% below its 2018 maximum of $0.11.

An additional 2% move higher would push ETH/BTC past the upper range of its Bollinger Bands, amplifying its recent ascent. Recent history would dictate however that the pair would be likely to revert back to its 20 day moving average of $0.07

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Edited by Stephen Alpher.

Coinbase Prime, #prizmabet Talos Team Up to Meet Rising Institutional Crypto Trading Demand

The agreement offers Talos clients connectivity to Coinbase Prime for spot liquidity and custody services.

Talos, a crypto trading platform for institutional investors, is working with Coinbase Prime to expand access to digital assets for customers of both firms.

With rising demand from institutional investors for more secure and efficient trading platforms, the agreement offers Talos clients access to Coinbase Prime for spot liquidity and custody services, according to a press release. Coinbase Prime, which is typically used by institutional investors, is an integrated system that offers users offline storage and advanced trading.

The pact will also give Coinbase Prime clients access to Talos’s trading and connectivity products, according to the press release.

With institutional investors pushing further into crypto, demand for more sophisticated means of trading, investing and managing the digital asset has ramped up. Last week financial institutions T. Rowe Price, WisdomTree and Wellington Management joined layer 1 blockchain Avalanche’s Evergreen subnet to make execution and settlements more efficient. Last month, Nasdaq said it is aiming to debut its crypto custody services by the end of the second quarter.

“We’ve seen consistently growing demand, despite recent market conditions, for high-performance digital asset trading platforms as institutional investors continue to build for long-term participation in this emerging asset class,” Anton Katz, co-founder of Talos, told CoinDesk in an interview.

Katz added that unlike retail investors, institutional firms entering the space require trading platforms with a much higher standard for safety and reliability along with more efficient means of trading that matches what they’re accustomed to in the traditional financial (TradFi) world.

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Talos raised $105 million in a Series B funding round last May that included investments from U.S. financial services giants Citigroup (C), Wells Fargo (WFC) and BNY Mellon (BK). The crypto trading platform offers institutional investors a “full trade lifecycle” which includes liquidity aggregation, trading, analytics and settlement through a single point of access, according to the statement.

Edited by Aoyon Ashraf.

Prizmabet’in en değerli özelliklerinden biri de Prizmabet TV kanalıdır. Bu kanal sayesinde bahis sitesinde bulunan karşılaşmaları üyeler bir fiyata katlanmadan istedikleri vakit takip edebiliyor. Böylelikle hem heyecanlı hem de yararlı bir bahis tecrübesi yaşayabiliyorsunuz. Prizmabet TV kanalında futbol, basketbol, tenis, voleybol üzere tanınan spor kollarının yanı sıra daha az bilinen sporlara da yer verilmektedir. Prizmabet TV kanalını kullanmak için yalnızca siteye üye olmanız ve yatırım yapmanız kafidir.

Prizmabet para yatırma ve çekme süreçleri konusunda da üyelerine kolaylık sağlamaktadır. Prizmabet’te banka havalesi, kredi kartı, papara, cepbank, QR kod, bitcoin üzere farklı metotlarla para yatırabilir ve çekebilirsiniz. Para yatırma ve çekme süreçleri 7/24 yapılabilmekte ve kısa müddette hesaplara yansımaktadır. Prizmabet para yatırma ve çekme süreçlerinde rastgele bir kurul yahut kesinti de yapmamaktadır.

Prizmabet müşteri hizmetleri de üyelerine 7/24 canlı takviye hizmeti sağlamaktadır. Prizmabet canlı takviye grubu sayesinde site ile ilgili her türlü soru, sorun yahut teklifinizi iletebilir ve anında tahlil bulabilirsiniz. Prizmabet canlı takviye takımı profesyonel, güler yüzlü ve yardımseverdir.

Sonuç olarak, Prizmabet ülkemizin en güzel bahis sitelerinden biri olarak gösterilebilir. Prizmabet’te hem eğlenceli hem de yararlı bir bahis tecrübesi yaşayabilirsiniz. Prizmabet’e üye olmak için şimdiki giriş adresini web sitemizden bulabilirsiniz. Prizmabet’e girmek için tıklayınız! Prizmabet’e katıldığınıza pişman olmayacaksınız!

Galaxy Digital to Develop ETPs Alongside Asset Manager DWS #prizmabet

The two firms have formed a “strategic alliance, of which the ETP development is the initial aim.

Crypto-focused financial services firm Galaxy Digital (GLXY) has teamed up with asset manager DWS to develop a set of exchange-traded products (ETPs) for listing in Europe.

The two firms have formed a “strategic alliance,” according to an announcement on Wednesday, of which the ETP development is the initial aim.

The ETPs will give European investors cost-effective means of accessing digital asset investment through traditional brokerage accounts. Frankfurt-based DWS, which has 821 billion euros ($907 billion) in assets under management, will be Galaxy’s “exclusive ally” for crypto ETPs in Europe, the announcement said.

Galaxy has previously listed exchange-traded funds (ETFs) in Canada alongside CI Küresel Asset Management.

While the U.S. Securities and Exchange Commission (SEC)’s repeated rejection of applications to list spot bitcoin ETFs in the U.S. has been a source of ongoing frustration in the industry, similar products are now well established in Europe and Canada.

The significance of such investment vehicles lies in their providing institutional investors with an entry point to crypto investment while not requiring them to take direct control of the underlying assets, which could prove an impediment to adoption for such firms.

Edited by Parikshit Mishra.

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Prizmabet’in en kıymetli özelliklerinden biri de Prizmabet TV kanalıdır. Bu kanal sayesinde bahis sitesinde bulunan karşılaşmaları üyeler bir fiyata katlanmadan istedikleri vakit takip edebiliyor. Böylelikle hem heyecanlı hem de çıkarlı bir bahis tecrübesi yaşayabiliyorsunuz. Prizmabet TV kanalında futbol, basketbol, tenis, voleybol üzere tanınan spor kısımlarının yanı sıra daha az bilinen sporlara da yer verilmektedir. Prizmabet TV kanalını kullanmak için yalnızca siteye üye olmanız ve yatırım yapmanız kafidir.

Prizmabet müşteri hizmetleri de üyelerine 7/24 canlı takviye hizmeti sağlamaktadır. Prizmabet canlı dayanak grubu sayesinde site ile ilgili her türlü soru, sorun yahut teklifinizi iletebilir ve anında tahlil bulabilirsiniz. Prizmabet canlı takviye takımı profesyonel, güler yüzlü ve yardımseverdir.

Sonuç olarak, Prizmabet ülkemizin en güzel bahis sitelerinden biri olarak gösterilebilir. Prizmabet’te hem eğlenceli hem de çıkarlı bir bahis tecrübesi yaşayabilirsiniz. Prizmabet’e üye olmak için yeni giriş adresini web sitemizden bulabilirsiniz. Prizmabet’e girmek için tıklayınız! Prizmabet’e katıldığınıza pişman olmayacaksınız!

Arbitrum Airdrops #prizmabet $120M to Projects; Some Dump, Some Look to Bolster Themselves

Not everyone is aiming for community growth and market capture with the ARB stimulus.

Ethereum scaling blockchain Arbitrum on Tuesday completed the distribution of more than $120 million worth of its arb (ARB) tokens to projects that were built on the network, blockchain data shows.

In March, Arbitrum issued and airdropped its tokens to individual users in amounts ranging from 625 arb to over 10,000 arb, based on their network activity and number of wallets.

Airdrops occur when crypto projects send free tokens to their communities in a bid to encourage adoption. Crypto users who frequently interact with new and existing platforms are likely to receive an airdrop at some point. That has spurred the narrative of “airdrop farming” because large airdrops can be valued at thousands of dollars in effectively free money at peak.

Projects that built on the Arbitrum network, such as perpetual trading protocol GMX and token launchpad Camelot, were eligible for the airdrop, receiving tokens in proportion to the number of smart contract deployments, users and trading volumes, among other factors.

For some, like Vesta Finance, the airdrop provided a multimillion-dollar stimulus: The project was eligible for 2.7 million arb tokens, worth just under $6 million, despite holding only $3 million in its treasury. This can allow the project to, over time, sell the tokens to bolster its own development or even provide token incentives to users to further jumpstart activity.

Projects such as yield rewards-focused PlutusDAO said they will use their airdrop allocation in “multiple ways to make the project stronger,” without revealing specifics.

Other projects decided to sell as soon as they received the tokens, however. Gaming-focused TridentDAO sold $175,000 worth of arb, or half the amount it received, through three addresses. The move invited criticism from the community for its action.

On-chain data compiled by Lookonchain shows some 90 million ARB tokens – about $120 million at current prices – were sent to over 131 decentralized autonomous organizations, or DAOs. NFT marketplace TreasureDAO and GMX received the most at 8 million arb, or $12 million.

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These were followed by decentralized exchanges SushiSwap, Balance, Uniswap, Curve, and Dopex, which will each receive between 3 million and 5 million ARB tokens.

Edited by Sheldon Reback.

Decentralized Exchange Vertex Launches on Ethereum Layer 2 Arbitrum #prizmabet

The platform offers another venue to trade digital assets.

Vertex, a decentralized exchange (DEX) for the spot and derivatives trading of digital assets, has gone live on Arbitrum (ARB), a popular network built atop the Ethereum blockchain.

Vertex, which had been operating on a test network, combines an off-chain order book layered on top of an on-chain automated market maker on a decentralized, self-custodial exchange. The firm, which has bases in Singapore and the Cayman Islands, counts Jane Street, Dexterity Capital, Hudson River Trading, GSR, Collab+Currency, JST Capital, Big Brain and Lunatic Capital among its early backers.

The messy collapse of FTX and other centralized trading platform blowups last year has fueled a shift toward decentralized exchanges and self-custody. Ethereum layer 2 system Arbitrum is now the fastest-growing blockchain in total value locked and has surpassed Ethereum in daily transaction volume.

The Vertex team has been working on the protocol for about a year. Co-founder Darius Tabatabai said the platform has drawn interest from institutional traders and from retail traders who use Arbitrum.

“We built all the smart contracting ourselves, so we’re not forking anything,” Tabatabai said in an interview with CoinDesk. “The [automated market maker] is quite conventional, but we have a bunch of tech under the surface that enables you to do leveraged AMMs, to do looping, and we have an inbuilt money market. So you can think of it as a combination of Aave, dYdX and Uniswap, with an order book.”

Building Vertex on Arbitrum and using an off-chain sequencer for the order book has enabled the venue to process between 10,000 and 15,000 transactions per second with the ability to match orders in 10 to 30 milliseconds, a speed that rivals leading centralized venues and surpasses that on other decentralized exchanges, Tabatabai added.

Edited by Mark Nacinovich.

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Bitpanda and Raiffeisen Unit Partner to Offer Crypto for Banking Customers #prizmabet

EU banks’ forays into crypto have been meek so far, but new laws are on the way

Crypto exchange Bitpanda and a Vienna-based unit of Raiffeisen Bank have announced they are working together to offer crypto to the lender’s customers, according to a Wednesday statement.

The two have signed a letter of intent to cooperate, and will have finished evaluating the offer by the end of the year, said a statement by the lender.

“Examination of the partnership with Bitpanda aims to add an innovative, secure aspect to our product range and to enable all customers to easily accumulate wealth,” said a statement by Michael Höllerer, General Director of Raiffeisenlandesbank NÖ-Wien, which groups the bank’s operations in the Austrian capital and surrounding region.

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In February, a survey published by the European Central Bank suggested that lenders’ crypto activities were “insignificant,” and that the underlying distributed-ledger technology is “barely used.”

Analysts in both the crypto and traditional finance sectors have been hopeful that a new EU law known as the Markets in Crypto Assets regulation will encourage institutional adoption.

Edited by Parikshit Mishra.

Don’t Cap Digital Euro #prizmabet Holdings, European Parliament Study Says

The paper rejects conventional wisdom that limits are needed to avoid supplanting the banking system.

A digital euro system shouldn’t limit users’ holdings, a paper produced for the European Parliament said, arguing that the risks to financial stability of people deserting conventional banks are overstated.

The paper turns on its head central bankers’ conventional wisdom that individuals shouldn’t be allowed more than a few thousand euros worth of the central bank digital currency (CBDC) to prevent them from using it as a savings vehicle.

The banking industry issued a sigh of relief when the European Central Bank’s Fabio Panetta said individual users of the putative currency would be limited to holding around 3,000 euros ($3,317) worth at a time because he wants the CBDC only used for day-to-day payments.

Panetta’s goals for the project are wrong, said the report produced by academic Christian Hofmann at the request of the European Parliament’s Economic and Monetary Affairs Committee.

“The key role of a digital euro consists of the important role it can play as a store of value option for the public,” said Hofmann, who is an associate professor at the National University of Singapore. “All of this requires that the public’s access to a digital euro is unlimited.”

Though the study doesn’t bind the parliament, some lawmakers are thinking on similar lines.

“I have strong doubts about the restrictions” on holdings, socialist Dutch lawmaker Paul Tang told the chamber in an April 19 debate, arguing the CBDC should compete with banks. “A digital euro should be viable – why use something you can hardly hold?”

Central bankers such as Panetta have warned that a mass exodus from commercial banks could choke lending to the economy and damage financial stability.

The ECB is due to decide later this year whether to continue with the digital euro project, and the Bank of England has said that holdings of its own digital pound could also be limited to 10,000 pounds ($12,480).

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Edited by Sheldon Reback.

Helium’s IOT Token Surges 370% Following Solana Migration #prizmabet

More than six billion IOT tokens have been minted since Helium migrated to Solana.

Helium’s newly-issued IOT token has risen by over 370% in the past 24 hours following the protocol’s successful migration to the Solana blockchain last week.

IOT is the protocol token of Helium’s internet-of-things network, it is mined from Helium’s hotspots – the hardware infrastructure behind the IOT network.

The tokens will always be backed by Helium Network’s HNT token and can always be converted to HNT, with the redemption rate being set algorithmically by its treasury swap contract.

With a maximum token supply of 200 billion, there are around six billion tokens in circulation, according to Solana’s block explorer.

Solana-based decentralized finance (DeFi) protocol Kamino Finance revealed that it had opened two Helium vaults that lets investors stake their IOT and HNT tokens for a yield.

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The token is currently trading at $0.00248 with a fully diluted market capitalization of $495 million. However, based on circulating supply the current market cap is around $15 million.

Edited by Sandali Handagama.