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  • Bitcoin (BTC) price targets $63k as crypto market awakens after Fed rate cut

    Bitcoin (BTC) price targets $63k as crypto market awakens after Fed rate cut

    Bitcoin (BTC) price breaks above $62K as crypto market awakens after Fed rate cut
    • Bitcoin has broken past $62K post-Fed rate cut; next resistance at $63K.
    • Ethereum and Solana have also surged, reflecting a broader crypto market rally.
    • Caution remains due to economic uncertainties and potential regulatory issues.

    Bitcoin (BTC) price has surged past $62,000 following the US Federal Reserve’s decision to cut interest rates by 50 basis points.

    The move by the Fed, aimed at bolstering economic growth and mitigating recession risks, has ignited a rally across digital assets. The monetary policy adjustment has not only energized Bitcoin but also lifted a broad range of altcoins and risk assets.

    Next Bitcoin (BTC) price resistance level at $63k

    Currently trading around $62,096, Bitcoin’s price has demonstrated a solid 24-hour gain of 2.29% and a more impressive 7-day increase of 6.20%.

    Most notably, the price breach above the $62,000 mark represents a crucial psychological milestone for Bitcoin, following a period of consolidation near $60,000.

    Technical analysis highlights that Bitcoin’s next significant resistance level is positioned at $63,000, with the potential for further gains if this barrier is surpassed. The upper boundary of Bitcoin’s Bollinger Bands indicates heightened volatility, suggesting that while a short-term profit-taking phase may occur, the overall trend remains strongly bullish.

    Support is firmly established at around $60,100, acting as a critical floor that has been repeatedly tested and held firm.

    Investor sentiment towards Bitcoin is largely positive, with increased trading volumes reflecting growing institutional interest.

    As Bitcoin’s (BTC) price continues to climb, it benefits from a broader narrative of cryptocurrencies serving as a hedge against traditional market volatility and inflation fears, which have been exacerbated by the Fed’s dovish stance.

    Ethereum and Solana lead as altcoins mirror Bitcoin’s surge

    The rate cut by the US Federal Reserve has not only impacted Bitcoin price but has also spurred a broader rally in the cryptocurrency market, lifting major altcoins alongside Bitcoin (BTC).

    Ethereum (ETH), for instance, has surged past $2,400, marking a 24-hour increase of 4.94% and a 7-day rise of 2.97%. Ethereum’s price reached $2,430 before settling slightly, mirroring Bitcoin’s bullish trend. Technical indicators show Ethereum facing immediate resistance at $2,430, with potential for further gains if it breaks above this level.

    Solana (SOL) has also seen significant price movements, surging by 6.03% to reach $138.65. This gain underscores renewed confidence in Solana’s ecosystem and its applications in decentralized finance (DeFi) and NFTs.

    Other altcoins, such as Ripple (XRP) and Shiba Inu (SHIB), have also experienced notable increases, with XRP rising by 1.20% to $0.59 and SHIB climbing 7.85% to $0.00001427.

    Analysts remain cautious

    Despite the overall positive sentiment, market participants remain cautious. Mixed reactions and concerns about the sustainability of the rally are prevalent. Analysts suggest that while the rate cut has provided a significant short-term boost, the broader economic uncertainties and potential regulatory challenges could impact future performance.

    In particular, Presto Research notes that the market remains divided, highlighting the need for relief from growth concerns to maintain upward momentum.

    Amid the mixed market outlook, the coming months will be critical in determining whether the current Bitcoin (BTC) price rally can sustain momentum and push digital assets to new highs.

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  • Bitcoin price jumps to a three-week high

    Bitcoin price jumps to a three-week high

    Bitcoin price jumps to a three-week high
    • Bitcoin price has surged 5.6%, hitting a three-week high of $61.1K on Tuesday morning.
    • Altcoins like Celestia, Immutable X, and Near have seen double-digit percentage gains.
    • Crypto stocks have risen modestly ahead of the Fed’s expected rate cut announcement.

    Bitcoin price has surged to its highest level in three weeks, triggering gains across the cryptocurrency sector and related stocks. It soared 5.6%, reaching $61.1K by 11:55 a.m. ET before pulling back to around $61k.

    Bitcoin price jumps to a three-week high

    The surge marks a sharp reversal from the quiet start to the week, signalling renewed interest in digital assets.

    Altcoins and Bitcoin price soaring ahead of Fed cuts

    Besides Bitcoin, other major cryptocurrencies have also seen significant gains, with Ethereum (ETH) advancing 4.2% to $2.38K.

    Notably, some altcoins have outpaced the larger tokens. For example, Celestia (TIA) has seen a 15.7% increase, Immutable X (IMX) has risen by 14.8%, Near Protocol (NEAR) is up 9%, Uniswap (UNI) has climbed 8.9%, and Sui (SUI) has gained 8.1%.

    The rally comes just ahead of the Federal Reserve’s highly anticipated decision on interest rates.

    Market analysts widely expect the central bank to lower rates for the first time in four years. With inflation largely under control and the labour market showing signs of cooling, many believe the Fed will adopt a more accommodative stance.

    Lower interest rates are typically bullish for cryptocurrencies, as reduced borrowing costs make traditional savings and investment vehicles less attractive. As a result, investors often turn to riskier assets like cryptocurrencies in search of higher returns.

    Crypto-focused stocks also surge

    Crypto-focused stocks have also benefited from Bitcoin’s rally, though their gains were generally more modest compared to digital tokens.

    MicroStrategy (MSTR), a company known for holding large reserves of Bitcoin, inched up by 0.6%.

    Crypto exchange platform Coinbase Global (COIN) has risen by 3%, while crypto investment firm Galaxy Digital (OTCPK) has gained 5.4%.

    In the crypto mining sector, Riot Platforms (RIOT) has advanced 2.4%, MARA Holdings (MARA) has risen by 1.9%, and HIVE Digital Technologies (HIVE) has climbed 4.3%. Bit Digital (BTBT) saw the largest jump, gaining 13%, followed by Hut 8 (HUT) with a 6.6% rise and CleanSpark (CLSK) up 3.1%.

    As the broader stock market also experience buying pressure ahead of the Federal Reserve’s pivotal decision, the crypto sector continues to ride the wave of optimism surrounding the potential for lower rates and increased investment in digital assets.

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  • Singapore’s DBS Bank to launch crypto options and structured notes in Q4 2024

    Singapore’s DBS Bank to launch crypto options and structured notes in Q4 2024

    Singapore’s DBS Bank to launch crypto options and structured notes in Q4 2024
    • DBS Bank to launch OTC crypto options trading linked to BTC and ETH in Q4 2024.
    • Clients can hedge against volatility through options and structured notes.
    • DBS continues integrating blockchain and Web3 for institutional-grade access.

    Singapore’s DBS Bank is set to launch over-the-counter (OTC) crypto options trading and structured notes in the fourth quarter of 2024.

    This initiative aims to cater to the needs of institutional clients looking for ways to manage the volatility associated with major digital assets like Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies by market capitalization.

    DBS’s crypto options and structured notes

    According to DBS, clients who wish to gain exposure to cryptocurrencies can now do so through options trading and structured notes.

    A crypto options contract derives its value from the price of underlying digital currencies. It enables traders to lock in the right, but not the obligation, to buy or sell an asset at a predetermined price at a future date.

    By purchasing put options, for example, clients can secure the ability to sell Bitcoin at a fixed price, regardless of market conditions at the time of execution, thus providing a layer of protection against price drops. This flexibility is particularly useful for investors seeking to manage the volatility of their crypto portfolios.

    In addition to options, DBS will offer structured notes, which are debt securities whose returns are tied to the performance of underlying assets.

    Structured notes provide investors with more customized opportunities, allowing them to capitalize on market movements while potentially reducing risk through tailored financial products.

    DBS expanding its digital asset services

    Announced on September 17, 2024, DBS’s new offerings will give institutional investors access to advanced financial products linked to BTC and ETH.

    These products, which include crypto options contracts and structured notes, are designed to allow investors to hedge against the market fluctuations that have historically characterized the cryptocurrency space.

    With this move, DBS is expanding its digital asset services to include more sophisticated strategies, aligning itself with the growing demand for institutional-grade access to digital assets.

    According to Jacky Tai, DBS’s group head of trading and structuring, institutional clients are increasingly allocating funds to digital assets, and this expansion provides them with a new channel for incorporating advanced strategies into their portfolios.

    DBS’s commitment to offering “trusted institutional-grade access” to digital assets is in line with its broader mission of integrating blockchain technology and Web3 infrastructure into its financial services.

    As Singapore continues to lead in the global adoption of digital assets, DBS Bank remains at the forefront, leveraging regulatory support and technological innovation to provide cutting-edge solutions for its clients.

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  • Bitcoin Dogs (0DOG) makes an attempt at $0.04934 as Bitcoin (BTC) turns bullish

    Bitcoin Dogs (0DOG) makes an attempt at $0.04934 as Bitcoin (BTC) turns bullish

    Bitcoin Dogs (0DOG) makes an attempt at $0.04934 as Bitcoin (BTC) turns bullish
    • Bitcoin Dogs (0DOG) is projected to surge as Bitcoin’s price turns bullish.
    • 0DOG could reclaim its all-time high of $0.04934 due to increased demand amid new exchange listings.
    • Analysts predict a potential 100X move for 0DOG by the end of 2024.

    As Bitcoin (BTC) gears up for what could be a record-breaking rally after struggling below $60k, many altcoins within its ecosystem are expected to follow suit, and Bitcoin Dogs (0DOG) stands out among them.

    A BRC-20 token, 0DOG is directly tied to Bitcoin’s performance and with the current bullish outlook for BTC and a string of new exchange listings, it is poised to reclaim its previous all-time high of $0.04934.

    Bitcoin (BTC) regains its footing, surging above $60k

    At press time, Bitcoin price stood at $60,022, showing a steady 10% growth in the last seven days.

    Although the price remains 17.43% below its all-time high of $72,689 (achieved six months ago), the market sentiment is bullish after a scare that made analysts anticipate a drop below $50k this weekend.

    Most technical indicators currently show a buy signal indicating short-term bullishness and a possible long-term bullish trend. The key resistance level to watch is at $60,316, with bottom support around $58,294.

    If Bitcoin breaks above the $60,316 resistance, analysts predict it could rapidly surge to the next target of $62,441.

    Forecasts suggest Bitcoin could hit $79,207 by the end of 2024, with long-term projections reaching as high as $221,485 by 2025 and $369,701 by 2030. This anticipated growth, driven by institutional adoption and easing credit conditions, sets the stage for the entire Bitcoin ecosystem to surge, including projects like Bitcoin Dogs.

    Bitcoin Dogs (0DOG) poised to retest $0.04934

    Bitcoin Dogs (0DOG), the first-ever ICO launched on the Bitcoin blockchain as a BRC-20 token, offers a unique opportunity for those looking to capitalize on Bitcoin’s bullish momentum.

    0DOG’s value is tied to Bitcoin, meaning as BTC surges, 0DOG is expected to outperform due to its smaller market cap and higher volatility. This is a classic “beta trade,” where a smaller asset experiences more significant percentage gains as its larger counterpart rises.

    Currently priced at $0.00986, 0DOG is down 1.4% over the past 24 hours, but analysts are confident that the token is on the verge of a major breakout.

    The all-time high for 0DOG is $0.04934, reached on August 22, 2024, and its current price presents a compelling entry point for investors looking to ride Bitcoin’s momentum.

    With new exchange listings and a surge in market interest, 0DOG could see significant buy pressure, pushing it back toward its all-time high.

    Exchange listings and future projections for 0DOG

    Notably, Bitcoin Dogs has been on a listing spree, listing on major exchanges like MEXC, Gate.io, Uniswap, and UniSat Exchange shortly after a successful presale round.

    These listings have opened 0DOG to millions of potential investors, increasing liquidity and market exposure.

    The MEXC and Gate.io listings, in particular, are significant for the token’s growth prospects. For example, MEXC handles over $2 billion in trading volume daily and has a user base exceeding 6 million, providing Bitcoin Dogs with a massive platform to gain traction.

    Also, the MEXC and Gate.io listings caused the token’s price to pump 3X within the first hour of trading, indicating the potential for 0DOG to experience a similar surge amid rumours of additional exchange listings, which could further fuel demand.

    This increased market exposure, combined with Bitcoin’s expected bullish trend, makes 0DOG one of the top altcoins to watch in 2024. Analysts are predicting a potential 100X move before the end of the year, driven by both the macro environment surrounding Bitcoin and the internal developments within the Bitcoin Dogs project.

    Additionally, a play-to-earn game tied to 0DOG is set to launch later this year, which could attract even more interest and drive up the token’s price.

    For more information about Bitcoin Dogs and the 0DOG vesting schedule for those who purchased the token in the recently concluded presale, you can visit the official Bitcoin Dogs website here.

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  • Ormolus: Revolutionizing the Ethereum Ecosystem with Sustainable Rewards

    Ormolus: Revolutionizing the Ethereum Ecosystem with Sustainable Rewards

    ORMOLUS $ORM0x93c238d8932227fb6f5dff99af07133bd6f60a8d

    Ormolus is a Layer 2 blockchain designed to enhance the Ethereum ecosystem by offering sustainable rewards to its investors. Launched on 09/12/2024, Ormolus provides a unique redistribution mechanism where 2% of every transaction is returned to holders in the form of ETH rewards. The platform’s goal is to create a more rewarding experience for participants while ensuring efficient, low-cost transactions through its Layer 2 infrastructure.

    https://ormolus.site/

    https://t.me/OrmolusPro

    https://x.com/ormolusproERC20


    Ormolus is an innovative Layer 2 blockchain that aims to enhance the Ethereum ecosystem by providing sustainable rewards to its investors. Launched on September 12, 2024, Ormolus introduces a distinctive redistribution mechanism, where 2% of every transaction is returned to holders in the form of ETH rewards. This approach not only creates a more rewarding experience for participants but also ensures efficient, low-cost transactions through its Layer 2 infrastructure.

    At its core, Ormolus seeks to address the increasing demand for a scalable and community-driven ecosystem. By leveraging Ethereum’s robust security, the platform reduces transaction fees, making it more accessible to users. One of the standout features of Ormolus is its transparent and automated rewards distribution model, which allows investors to passively earn ETH simply by holding Ormolus tokens. This model not only incentivizes long-term holding but also strengthens community engagement, fostering a loyal and active user base.

    The tokenomics of Ormolus is designed for simplicity and efficiency. With a total supply of 1 billion tokens, the platform applies a 4% buy and sell tax on each transaction. Of this tax, 2% is redistributed to token holders, while the remaining 2% is allocated to support ongoing development and maintenance of the platform. Notably, there is no transfer tax, which promotes liquidity and flexibility within the ecosystem, making it easier for users to trade and engage with their assets.

    Ormolus is structured around four main phases, beginning with the launch and initial token distribution. The subsequent phases focus on expanding the ecosystem through the development of decentralized applications (dApps), building tools for community engagement, and continuously refining the platform for improvement. As Ormolus evolves, it plans to explore additional utilities, such as integrating staking features and introducing governance mechanisms, which would empower the community to influence the future direction of the project.

    In conclusion, Ormolus stands out as a promising addition to the Ethereum ecosystem, offering a sustainable rewards model and a commitment to community involvement. With its unique features and clear roadmap, Ormolus is poised to attract investors looking for a rewarding and engaging blockchain experience.

  • Binance-backed Solv Protocol introduces Bitcoin staking on Base with cbBTC token

    Binance-backed Solv Protocol introduces Bitcoin staking on Base with cbBTC token

    Solv Protocol introduces Bitcoin staking on Base with cbBTC token
    • Solv Protocol has launched Bitcoin staking for cbBTC holders on the Base network.
    • cbBTC holders on the Solv protocol can mint SolvBTC and convert it to SolvBTC.BBN for Bitcoin staking yield.
    • cbBTC, backed 1:1 by Coinbase’s BTC holdings, is live on Ethereum and Base for DeFi integration.

    Solv Protocol, supported by Binance Labs, has unveiled its latest innovation in the cryptocurrency space: Bitcoin staking for holders of the newly launched wrapped Bitcoin token, cbBTC, on the Base network.

    Coinbase’s cbBTC token allows Bitcoin holders to convert their assets into this new wrapped token, similar to previous efforts with Wrapped Bitcoin (WBTC).

    The conversion process involves transferring Bitcoin from user accounts to either Base or Ethereum addresses, where it is transformed into cbBTC. This token can then be utilized across various DeFi protocols, including MakerDAO, Aave, and Compound as we had detailed in our earlier news coverage.

    Earning Bitcoin staking yields on Solv Protocol with cbBTC

    Solv Protocol is capitalizing on the newly launched Coinbase cbBTC token, which is backed 1:1 by BTC holdings on Coinbase and is now available on both Ethereum and the Base layer 2 chain to offer Bitcoin staking through the cbBTC token on the Base network.

    Solv Protocol enables cbBTC holders to mint SolvBTC, a token designed to enhance participation in decentralized finance opportunities. The users can then convert SolvBTC into SolvBTC.BBN, a liquid staking token that provides additional Bitcoin staking yields.

    Solv Protocol’s latest offering adds to the growing array of platforms providing liquid staking or restaking opportunities for Bitcoin, alongside other services like Lombard Finance, Swell, and AcreBTC.

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  • Coinbase’s wrapped Bitcoin token cbBTC goes live

    Coinbase’s wrapped Bitcoin token cbBTC goes live

    Coinbase's wrapped Bitcoin token cbBTC goes live
    • Coinbase launches cbBTC, an ERC20 token backed 1:1 by Bitcoin in its custody.
    • cbBTC allows BTC holders to access DeFi apps like Aave, Compound, and MakerDAO.
    • Over 843,783 Bitcoins back cbBTC, representing 4% of the total Bitcoin supply.

    Coinbase, the largest cryptocurrency exchange in the US, has officially launched its new tokenization product, Coinbase Wrapped Bitcoin (cbBTC), marking a significant development in the tokenization of Bitcoin across blockchains.

    The newly launched ERC20 token is fully backed 1:1 by Coinbase’s Bitcoin holdings, allowing holders to interact with decentralized finance (DeFi) applications on Ethereum and Base.

    The release of cbBTC provides an innovative bridge between Bitcoin and Ethereum’s DeFi ecosystem, giving Bitcoin holders more ways to lend, borrow, and earn yields with their assets.

    cbBTC is backed by Coinbase’s Bitcoin holdings

    Coinbase’s extensive Bitcoin holdings back the entire supply of cbBTC. As of now, Coinbase holds over 843,783 Bitcoins in custody, valued at around $48.7 billion, representing more than 4% of the total Bitcoin supply. This ensures robust liquidity for cbBTC holders.

    The number of cbBTC tokens in circulation will be directly limited by the amount of Bitcoin Coinbase owns.

    How cbBTC works

    The mechanics behind cbBTC are simple yet effective. When users transfer Bitcoin from Coinbase to an address on Base or Ethereum, their BTC is automatically converted into cbBTC at a 1:1 ratio. This conversion happens seamlessly, and the reverse process occurs when cbBTC is sent back to a Coinbase account, transforming the wrapped asset back into Bitcoin.

    Unlike a typical token launch, cbBTC will not have a separate order book or trading pair on Coinbase, but it will be accessible on decentralized exchanges (DEXs) like Aerodrome and Curve. Additionally, third-party exchanges may choose to list cbBTC in the future.

    Expanding decentralized financial access

    The introduction of cbBTC is not just a technical advancement but also part of Coinbase’s broader mission to expand decentralized financial access.

    Will Robinson, Coinbase’s Vice President of Engineering, has highlighted cbBTC’s potential to bring “1 billion people on-chain.”

    By providing Bitcoin holders with access to DeFi applications such as Aave, Compound, and MakerDAO, cbBTC enhances the utility of Bitcoin, helping users integrate their BTC into a wider financial ecosystem.

    With the growing demand for Bitcoin-based DeFi products, cbBTC positions Coinbase as a leader in the tokenization space.

    Notably, Coinbase’s move comes shortly after BitGo’s announcement regarding custody services for wBTC, further fueling competition in the wrapped Bitcoin market.

    With support from major DeFi protocols, cbBTC is could play a key role in shaping the future of decentralized finance.

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  • Toncoin bounces back above $5, next target at $6.19

    Toncoin bounces back above $5, next target at $6.19

    Toncoin bounces back above $5 with next target at $6.19
    • Toncoin rebounds above $5 after Pavel Durov’s release and public reassurance.
    • Trading volume has surged by over 148%, boosting interest in both spot and futures markets.
    • Resistance at $5.51; a breakout could push TON to its next target of $6.19.

    Toncoin (TON), the native cryptocurrency of the Toncoin blockchain, has experienced significant volatility in recent weeks, driven by developments surrounding Telegram and its founder Pavel Durov. After a sharp price drop following Durov’s arrest in France, the coin has rebounded above $5.

    With its next resistance level at $6.19, investors are watching closely as technical indicators suggest a short-term bearish sentiment, despite renewed optimism.

    Why is Toncoin price rising?

    Toncoin faced a tumultuous period following the arrest of Telegram CEO Pavel Durov in late August. The close association between TON and the popular messaging platform resulted in the token shedding over 30% of its value in a matter of weeks, dropping as low as $4.45.

    Concerns over the future of Telegram and its potential impact on TON drove much of the downward momentum.

    However, recent developments have led to the slight price recovery. Durov’s release on parole and his public statements addressing the arrest have sparked renewed interest in the asset.

    In his comments, Durov criticized the French authorities’ approach to his arrest and reassured Telegram’s 950 million users about the platform’s future.

    Durov’s comments, combined with a revamped Telegram privacy policy that includes moderating private chats, have given TON the boost it needed to bounce back above $5.

    In addition to the positive sentiment from Durov’s release, Toncoin’s trading volume surged by over 148%, reflecting increased activity in both spot markets and perpetual futures.

    TON price technical analysis

    From a technical analysis perspective, Toncoin’s short-term outlook remains bearish. Out of 17 technical indicators, 10 are signaling a sell, while only 2 recommend a buy.

    Despite the slight recovery, the coin is still below several key exponential moving averages (EMAs), including the 20, 50, 100, and 200-day EMAs. However, it has managed to stay above the 10 EMA.

    While the recent bounce pushed TON above the key $5 level, technical analysis suggests that it faces resistance at $5.51, which must be cleared for further upward movement.

    A successful close above $5.51 will open the door to a potential rally toward $6.19.

    Conversely, failure to hold above $5 may see TON test its support at $4.94, with further declines likely if it breaks below that level.

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  • Bernstein analysts predict Bitcoin surge to $90k if Trump wins

    Bernstein analysts predict Bitcoin surge to $90k if Trump wins

    • Bitcoin could surge to highs of $90k if former US president Donald Trump wins the next election in November, analysts at brokerage and research firm Bernstein predict.
    • Analysts at the brokerage shared the prediction in a note to clients on September 9.

    Bernstein says a “Trump trade”, as they referred to a potential win for the Republican candidate, could see the flagship digital asset’s value reach a new all-time high.

    Gautam Chhugani, Sanskar Chindalia and Mahika Sapra shared the prediction in a client note published on Sept. 9. Per the analysts, Bitcoin price could climb to the $80,000-$90,000 level by the end of the year if Donald Trump wins the upcoming election.

    But while a second term for the former president would herald a positive momentum for BTC, the opposite is likely should US Vice President Kamala Harris win. If the Democratic candidate surmounts the Republican challenge, her win could provide a negative impact for cryptocurrencies, the analysts noted.

    In this case, it’s possible Bitcoin could trade low – price levels in the $40,000 to $30,000 range being the likely primary support area.  

    Currently, most polls have Trump ahead of Harris. Traders on decentralized platform Polymarket are also betting on a Trump win, giving him a 52% chance.

    Meanwhile, Polymarket data suggests Harris has a 47% chance of snatching victory.

    Trump vs. Harris’ crypto approach

    Trump’s more crypto-friendly stance and plans for crypto stand out as a key factor. Notably, the former US president’s approach largely contrasts with that associated with the Harris camp.

    Although the Harris campaign has initiated moves such as the crypto roundtable meetings, the Democratic presidential nominee has not added her voice to the crypto question in her campaign or policy statements.

    Bitcoin price struggles for upside

    Bernstein’s predictions come amid Bitcoin price’s struggles in the $50k-$60k range.

    Massive sell-off pressure, regulatory landscape and overall macro environment have all combined to add to a negative sentiment.

    However, analysts are bullish on crypto in the short term, particularly if Trump wins. This will also feed into the long term picture, which Bernstein has previously predicted could catapult BTC to $200k by end of 2025 and $500k by December 2029.

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  • Unisat-backed Bitcoin scaling solution Fractal Bitcoin launches mainnet

    Unisat-backed Bitcoin scaling solution Fractal Bitcoin launches mainnet

    Block Space Force and Unisat-backed Fractal Bitcoin launches mainnet
    • Fractal Bitcoin launches mainnet, leverages Bitcoin Core code for enhanced scaling.
    • The network offers sub-30-second block confirmations and a 20x capacity increase.
    • The network’s native token, FB, supports proof-of-work mining, with half pre-mined for allocations.

    Fractal Bitcoin, a groundbreaking Bitcoin scaling solution, has officially launched its mainnet, ushering in a new era for Bitcoin scalability.

    This innovative project, spearheaded by Unisat and Block Space Force, represents a significant advancement in the realm of Bitcoin (BTC) technology by leveraging the core Bitcoin Core codebase.

    Fractal Bitcoin uses recursive layering and integrates OP_CAT opcode

    The Fractal Bitcoin mainnet debut follows extensive testing on its testnet, which began in July 2024. The network claims impressive performance metrics, including block confirmation times of under 30 seconds and a 20-fold increase in capacity per layer.

    Unlike many other scaling solutions that rely on Ethereum Virtual Machine (EVM) compatibility, Fractal Bitcoin distinguishes itself by utilizing Bitcoin-native constructs. Its approach focuses on enhancing Bitcoin’s inherent functionality through recursive layering and the integration of the OP_CAT opcode.

    This unique strategy promises to overcome many of the limitations faced by traditional Bitcoin sidechains and purported Layer 2 solutions.

    In addition to its core features, Fractal Bitcoin supports a variety of Bitcoin protocols such as BRC-20, Runes, and Ordinals.

    A notable highlight of the mainnet launch is the introduction of PizzaSwap, a decentralized exchange built into the network, aimed at facilitating seamless trading and transactions within the ecosystem.

    The network also brings a novel mining structure called “Cadence Mining.” This system combines permissionless mining with merged mining with Bitcoin, enhancing network security and ensuring robust protection against potential threats.

    Fractal Bitcoin’s native token FB

    The launch of the Fractal Bitcoin mainnet is accompanied by the release of its native token, FB.

    With a total supply of 210 million FB tokens, half are allocated for proof-of-work mining, while the remaining half is pre-mined for core contributors, investors, the ecosystem treasury, and community grants. This distribution strategy underscores the project’s commitment to fostering a supportive and thriving ecosystem.

    Overall, Fractal Bitcoin’s mainnet launch marks a significant milestone in Bitcoin scaling solutions, promising enhanced performance, security, and functionality for the Bitcoin community.

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