Author: Yeek.io

The Ethereum (ETH) layer-2 protocol developed by consumer electronics and entertainment giant Sony Group is now live. Sony Group says the Soneium Mainnet, which is developed by Sony Block Solutions Labs and powered by Optimism Foundation’s Superchain technology, is now operational. The Japanese conglomerate announced the development of Soneium in August of 2024. The consumer electronics and entertainment giant says Soneium’s goal is to “provide use cases that creators and fans can benefit from” through the open and global blockchain technology. “In this early phase, we aim to maximize creators’ creativity, benefits, and fan engagement onchain. By protecting content rights…

The price of Algorand jumped more than 20% in 24 hours, retesting the key resistance level of $0.44 on Jan. 15. Algorand (ALGO) rose sharply as a bullish flip that buoyed XRP (XRP) to highs of $3 for the first time since 2018 also helped Stellar (XLM) higher.  With a 20% price increase, Algorand became the second-biggest gainer among the top 100 cryptocurrencies by market cap during the period. The only token to outperform it was Virtuals Protocol (VIRTUAL), which continues to rally amid growing interest in AI agent-based technologies. For Algorand bulls, the surge to $0.44 marks a return…

What is Cryptomus?Cryptomus is a user-friendly centralized cryptocurrency exchange (CEX). It emphasizes cost, security, and ease of trade. The site has more than 400,000 active users and offers a range of trading alternatives for both new and seasoned traders. Thanks to creative payment solutions like the auto-conversion option, it has a solid reputation in the business-to-business industry.With over 100,000 institutional clients, the platform manages transactions, guaranteeing competitive spreads and strong liquidity. Because of this, it is a desirable option for businesses and high-frequency traders.Core Features of CryptomusCryptomus offers several tools tailored to traders’ and businesses’ needs. Here are its standout…

Community backlash erupts after Soneium’s launch, with critics labeling its restrictions as anti-decentralization. Japanese multinational conglomerate Sony is stepping into the blockchain spotlight with the launch of Soneium, its layer-2 solution built on the Ethereum network. Designed to “unlock new possibilities, enhancing fan engagement and leveraging the transformative potential of web3 technology,” Soneium promises a future where creators, fans, and developers collaborate in a decentralized digital space, according to the Jan. 14 mainnet launch announcement. But not everyone’s buying it — crypto diehards are up in arms over the platform’s controversial approach to intellectual property protection. What is Soneium Soneium…

The NFT market endured a challenging 2024, with trading volumes and sales activity falling to their lowest levels in three years. A report by blockchain analytics firm DappRadar revealed a 19% decline in annual trading volumes and an 18% drop in the number of sales compared to 2023.The downturn comes despite broader growth in the cryptocurrency space, including record highs for Bitcoin and increased DeFi activity. Experts point to inflated valuations and reduced buyer participation as key factors driving the decline.Whilst certain high-value transactions and platforms showed resilience, the overall market faced significant challenges in maintaining momentum. Source: DappRadarConsistent Declines…

WhiteBIT, Europe’s leading cryptocurrency exchange, has wrapped up an impressive year, achieving significant milestones. The company’s valuation has reached $38.9 billion, with its annual trading volume soaring to $2.7 trillion — a remarkable 200% increase from the previous year. These figures, which include both spot and futures markets, reflect the exchange’s rapid expansion and growing trust among its users. To put these numbers in perspective, WhiteBIT’s trading volume far exceeds that of major players like Kraken, which recorded an annual trading volume of $628 billion. WhiteBIT’s trading volume now surpasses the GDP of nations such as Italy and Canada and…

  On-chain metrics revealed that exchanges have witnessed an outflow of $4.5 million worth of BONK. Currently, 52.98% of top traders hold long positions, while 47.02% hold short positions. Bonk [BONK] has finally found support at the $0.000025 level after experiencing a price decline of over 60% in the past few weeks. However, it has yet to confirm whether the sentiment has shifted. Still, the current market outlook suggests a potential turnaround for the meme coin. Rising interest from traders and investors Another factor that could shift BONK’s sentiment is the rising interest and confidence of traders and investors, as revealed…

Quick take: The company will use the funds to launch 1Money Network, a layer-1 blockchain focused on stablecoin payments. The company said its L1 network leverages a patent-pending Byzantine Consistent Broadcast design that eliminates delays, surging prices and security issues. 1Money has emerged from stealth with a $20 million seed round backed by F-Prime Capital, Galaxy Ventures, Hack VC, Kraken Ventures, MoonPay Ventures and Bankless Ventures. The company plans to use the seed round to launch the 1Money network, a layer-1 blockchain “exclusively designed” for stablecoin payments. According to 1Money, the network leverages a patent-pending Byzantine Consistent Broadcast design that…

ALGO could be poised for a potential bullish breakout after a rebound from the correction. Daily active addresses starting to rise again steadily after being flat since July 2024. Algorand [ALGO] gained more than 14% while its daily trading volume rose by equal measure as per CoinMarketCap, aligning with the current bullish momentum in the altcoin. ALGO has been consolidating tightly within a crucial range of $0.39 to $0.32. In recent weeks, ALGO repeatedly tested both the upper and lower boundaries of this range, indicating a tense equilibrium between buyers and sellers. This pattern suggests that ALGO is setting up…

The Bitcoin price has struggled to break above the $100,000 threshold decisively over the past four weeks, largely fluctuating within the $90,000 to $100,000 range. This correction and lackluster price action have caused a degree of bearish sentiment among traders, with some speculating that Bitcoin might have already reached its peak for the current cycle. However, some bullish proponents are still noting that Bitcoin’s price trajectory remains bullish as technical indicators continue to signal upward momentum. Crypto analyst Tony “The Bull” Severino highlighted a key observation on social media platform X, focusing on Bitcoin’s monthly stochastic indicator to suggest that…