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Trick or treapt in crypto: Week’s recap

Andrew Zhoao

News editor

Nov 2, 2023 at 09:55

Recapping a week filled with cryptocurrency events and analyzing significant upcoming occurrences, including economic announcements, token launches, and giveaways. There’s a bounty of information we’re eager to impart, so here’s a brief of what’s in store:

  • Subsocial’s staking program
  • The last news about Binance, Celestia, Unibot, and Solana
  • The Future of AI in UX: Interview with Lazarev Agency Co-Founders
  • Solana’s Journey to $3K
  • Technical analysis: DOGE to $20 by 2024
Current token price
Current token price
Fear and Greed Index/Bitcoin Dominance
Fear and Greed Index/Bitcoin Dominance

To kick things off, let’s delve into the most prominent events from the last week. Here’s a roundup of notable happenings you may have overlooked.

Binance’s Launchpool launched 69M memecoin

Binance has rolled out Memecoin (MEME) on their Launchpool. As an incentive, they offer rewards of 1.38B who stake BNB, TUSD, and FDUSD. However, it’s crucial to be aware of the hourly hard caps and KYC mandates.

Starting from October 28, 2023, at 00:00 (UTC), users can participate in token farming for MEME by staking their BNB, TUSD, and FDUSD in dedicated pools, which will run for 30 days. To participate in the Launchpool, act quickly and review the terms to make sure everything is clear. 

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This move reflects the ongoing trend of meme-based cryptocurrencies in the crypto market, showing that they continue to attract attention and investment. But it’s still being determined whether this memecoin will gain traction or fade quickly, so be careful.

Celestia’s TIA token debut

On October 31, Celestia unveiled its mainnet, a cutting-edge modular blockchain framework crafted for both scalability and decentralization. The launch synchronized with the debut of its token, TIA, on prominent exchanges such as KuCoin, Bybit, and Binance. For distribution purposes, Celestia has earmarked 60M TIA tokens, which equates to 6% of the entire token pool. As of now, the token is trading at an approximate value of $2.24.

Celestia (TIA) token chart
Celestia (TIA) token chart

The project’s innovative, modular take on blockchain architecture holds promise in confronting the pressing issues of scalability and decentralization.

This development reflects the continued innovation in the crypto market, providing solutions for improving blockchain infrastructure and offering new opportunities for investors and users.

The Future of AI in UX: Interview with Lazarev Agency Co-Founders

Gear up for a riveting interview with Kirill Lazarev and Volodymyr Karishev, the visionary co-founders of Lazarev Agency. Dive deep as they demystify the enthralling confluence of AI and UX, guiding you through:

🔍 AI and UX fusion – where innovation meets user experience.

🌐 Technology regulation’s profound impact on our digital world.

🔗 An insight into an ingenious search engine that’s changing the game.

💡 Deep insights into the exhilarating challenges and opportunities in the AI startup ecosystem.

🤖 Busting the myth that AI is a job-snatcher.

This is your golden ticket to a world of knowledge and inspiration. Join us on YouTube for the complete interview:

Unibot exploit shakes the crypto community, $600K lost

Unibot, a cryptocurrency trading bot, recently suffered an exploit, which allowed an attacker to drain over $600K from users’ assets. The irregularity was initially flagged by a vigilant user on Twitter.

The Unibot team promptly acknowledged the security breach and temporarily suspended the bot’s operations to facilitate a thorough investigation and remedy the situation. They have given assurances to users that all losses will be reimbursed. Nevertheless, the breach triggered a steep decline in the value of UNIBOT’s native token, causing it to tumble by over 40%. As of now, it’s trading at approximately $43.

Coinbase report reveals tokenization’s rising significance in finance

Coinbase’s report underscores the increasing significance of tokenization in the financial sector. Experts anticipate its scope expanding from signifying ownership rights in assets like real estate, commodities, and art to encompassing government bonds and funds. However, hurdles like infrastructure and regulatory challenges persist. Notably, many institutions are leaning towards private blockchains, citing security concerns, which could potentially slow widespread tokenization adoption.

The focus of real asset tokenization has transitioned from private credit protocols to US Treasury bonds over the past year. Contrary to previous misconceptions, industry leaders now recognize its myriad benefits, which include 24/7 operations, automated intermediary tasks, and transparent audit processes. The report posits that the market capitalization for real asset tokenization might surge to $5-16 trillion by 2030, with stablecoins poised to be a cornerstone in the forthcoming cycle of the cryptocurrency market.

🔑 Key crypto market highlights (November 1 — November 8)

💲 Ideas 

Get ready to earn: Subsocial rolls out Creator Staking

Holders of the SUB token, the native token of the decentralized social network Subsocial, now have an enticing opportunity to delve into Creator Staking. This initiative allows them to actively participate, support content creators, earn rewards, and contribute to the growth of the network.

Drawing inspiration from Astar Network’s Dapp Staking, the Creator Staking system heralds mutual advantages for both networks. Participate in the program’s beta launch during its initial months and witness firsthand the power of community-driven rewards.

All the details are available here.

Long-time DOGE investor anticipates a $20 rally

Trader John-Burr has conducted a technical analysis of Dogecoin and identified that the token has the potential to reach $20. According to him, he has been holding DOGE since 2017 and is currently eagerly anticipating a bullish wave.

In his opinion, the likelihood of the token only reaching one cent is extremely low, as DOGE is most likely not going to stop at the 2018 level, which it has yet to achieve at its current price.

Overall, there is an expectation of sideways movement until December 2023, followed by a bullish surge that could continue until December 2024. The trader sets fairly ambitious targets for DOGE, anticipating that the token’s price will first increase to $9 and then to $20.

Dogecoin TA
Dogecoin TA

*Any technical analysis in the long run cannot accurately predict the movement because now is a very tough market and the news can swing currencies in all directions

Solana’s future: Is a $3,211 price target in 2030 possible?

According to a forecast by VanEck analysts, under a bullish scenario, Solana (SOL) could potentially soar to $3,211 by 2030.

The report also touches on a baseline scenario, speculating that SOL might reach a value of $335 in 2030. Conversely, should Solana’s market share decrease, leading to a bearish scenario, the asset’s price could plummet to as low as $10.

VanEck’s projections for Solana’s future span a broad spectrum, ranging from an exceedingly optimistic outlook to more measured and even gloomy scenarios. At present, it remains uncertain which scenario will play out.

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