Market

Germany Welcomes New RWA Platform

Published

5 months ago

August 25, 2024

Coin2049 Newsletter

BeInCrypto’s comprehensive Europe Crypto Roundup covers the latest news and trends shaping the continent’s crypto landscape. With reporters across key markets like Germany, France, and the UK, we provide in-depth insights into evolving regulatory environment, adoption rates, major industry events, and market movements.

This week’s roundup covers the launch of a new tokenized real estate platform in Germany, Bitpanda’s partnership with Finland’s largest crypto broker, the arrest of Holograph hackers, and more.

New Platform for Tokenized Real Estate Launches in Germany

A new platform for tokenized real estate has launched in Germany, bringing the analogue and digital investment worlds closer together. This initiative is led by MyHouse AG, a provider of real estate investments for private and institutional investors, alongside Berlin-based Web3 company Tokenforge.

According to the announcement, the platform’s initial rollout will include assets from Degag Deutsche Grundbesitz AG. The follow-up phase will introduce digital securities from MyHouse AG. The companies describe this as a “significant step in democratizing and digitalizing investments in the real estate sector.”

“The processing of digital securities not only significantly increases management efficiency but also makes it easier for our investors to access these opportunities through tokenization. This approach allows investors to “invest small amounts in high-quality real estate and tangible asset projects, opening the market to a much wider group,” said Alexander Hupe, CEO of MyHouse AG.

The platform, regulated under Germany’s Electronic Securities Act (eWpG), will first focus on real estate in Germany. It plans to expand to other assets and international markets later.

Montenegro Arrests FutureNet Executive

Montenegrin police have arrested Roman Ziemian, co-founder of the alleged crypto fraud scheme FutureNet, who was living under a false identity in the capital city of Podgorica. The arrest, announced on August 19 by Montenegro’s Police Directorate, follows an international investigation involving South Korea and Poland. Both countries have issued warrants for Ziemian on charges of fraud, money laundering, and theft.

Authorities say Ziemian could face life imprisonment in South Korea for his role in the $21 million scheme. Upon his arrest, police seized devices and items suspected of being used in his criminal activities. Ziemian is now awaiting a hearing at Podgorica’s High Court to determine his extradition.

FutureNet, founded by Ziemian and Stephan Morgenstern in 2018, was promoted as a multilevel marketing business featuring FuturoCoin (FTO). In 2019, Poland’s Office of Competition and Consumer Protection (UOKIK) flagged FutureNet as a pyramid scheme, warning that it sold “participation packages” ranging from $10 to $10,000, with promised returns for recruiting new participants.

South Korean authorities began investigating the scheme in 2020 after 950 victims reported losses totaling millions of dollars. Ziemian’s arrest mirrors that of co-founder Stephan Morgenstern, whom authorities detained in Albania in August 2023. Both men face potential life sentences in South Korea.

Finnish Crypto Broker to Offer Over 400 Digital Assets Through New Partnership

Coinmotion, Finland’s largest cryptocurrency provider, has partnered with Bitpanda Technology Solutions (BTS) to offer more than 400 virtual currencies to its users. Based in Jyväskylä, Coinmotion will soon deliver the most extensive crypto service package in the Nordic region.

BTS, a part of Austrian fintech company Bitpanda, enables businesses to integrate its cryptocurrency trading solutions. With this partnership, Coinmotion users will access all supported currencies through the Coinmotion app. Initially, 10 popular assets —including Solana, Tron, and Polkadot — will be available, with more added gradually over the year.

“Thanks to this partnership, Coinmotion can easily expand its offering and deliver the widest range of virtual currencies in the Nordics,” said Lukas Enzersdorfer-Konrad, CEO of BTS.

A recent survey revealed that 300,000 Finns, or 7% of the adult population, own virtual currencies — a figure expected to triple within a decade. Coinmotion’s expanded offerings aim to attract both new and existing investors in a secure environment.

“Our customer base is growing as more Finns begin investing in virtual currencies. We believe virtual currencies will soon be as common as other asset classes,” said Antti-Jussi Suominen, CEO of Coinmotion.

The partnership will provide trading opportunities for over 25 million customers across Europe, reflecting the increasing demand for secure digital asset solutions.

Holograph Hackers Caught by French Police in Italy

After a two-month investigation, French police have arrested two suspects involved in hacking the Holograph crypto platform. Hackers compromised Holograph in June and fraudulently created a billion HLG tokens.

They managed to deploy an unverified smart contract on the Mantle network, enabling the creation and immediate sale of the excess tokens, which caused the market value to plummet. Holograph managed to freeze 200 million tokens across several exchanges, including Bybit, Gate, KuCoin, Bitget, and Backpack.

The investigation was relatively straightforward, as some stolen funds were traced to a Paris-based individual known as “Acc01ade,” who exchanged the stolen HLG tokens for USDT and ETH. The suspect had previously identified himself online as a “super shadowy coder” and had even listed his position as a developer for Holograph on LinkedIn since May 2021.

The investigation was conducted by the Office of Cybercrime Prevention (OFAC) in collaboration with the Brigade for the Suppression of Banditry (BRI), Europol, the Italian Anti-Mafia Investigation Directorate, and the Royal Cayman Islands Police Service (RCIPS). These agencies tracked down and apprehended the suspects in Italy. The individuals are now awaiting extradition to France, where they will face charges related to the crypto hacking case.

The total estimated value of the theft is $14.2 million. To restore balance, Holograph has since destroyed an equivalent number of tokens to return the supply to its original level.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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Market

Dogecoin Holding Time and Whale Activity Spikes

Published

10 minutes ago

January 22, 2025

Coin2049 Newsletter

Dogecoin (DOGE), a leading meme coin, is signaling a potential breakout from its narrow trading range.

If this momentum continues, it could reclaim its multi-year high of $0.48, fueled by extended holding periods and increased accumulation by large holders.

Dogecoin Investors Reduce Distribution

The on-chain assessment of DOGE’s performance has revealed a significant spike in the holding time of all its coins transacted in the past seven days. According to IntoTheBlock, this has climbed by 302% during the review period.

The holding time of an asset’s transacted coins represents the average duration tokens are kept in wallets before being sold or transferred.

Longer holding periods like this reduce selling pressure in the DOGE market. This reflects stronger investor conviction, as investors choose to keep their coins rather than sell them.

Dogecoin Holding Time. Source: IntoTheBlock

In addition to reducing selling activity, DOGE whales have increased their holdings over the past week. This is reflected by the 112% uptick in its large holders’ netflow during that period.

An asset’s large holders’ netflow metric tracks the movement of coins into and out of wallets controlled by whales or institutional investors. When this metric spikes, it suggests that these large holders are accumulating more of the asset, signaling increased confidence in its future price movement.

Dogecoin Large Holders Netflow. Source: IntoTheBlock

DOGE Price Prediction: Bullish Run Could Continue

If this bullish momentum is maintained, DOGE will extend its weekly 3% spike. As buying pressure strengthens, the meme coin could revisit its four-year high of $0.48.

Dogecoin Price Analysis. Source: TradingView

However, this bullish outlook will be invalidated if accumulation stalls and selling activity recommences. In that scenario, DOGE’s price could slip to $0.29.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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Market

Base DEX Volume Approaches $3 Billion Amid Growing Adoption

Published

1 hour ago

January 22, 2025

Coin2049 Newsletter

Base, Coinbase’s Layer-2 (L2) blockchain solution, has reached new heights, setting an all-time high daily decentralized exchange (DEX) trading volume near $3 billion.

This milestone reflects Base’s growing prominence in the L2 space and its role in scaling on-chain transactions for Coinbase users.

Base Hits New Milestone in DEX Volume

Blockchain analyst Dan Smith highlighted Base L2’s record-breaking volume of $2.9 billion, including $1.3 billion in ETH-USD trading, which also hit an all-time high. Other trading pairs, such as ETH-cbBTC and BTC-USD, were close to breaking their own records.

Base DEX Volume By Pair Type. Source: Blockworks Research

The $2.9 billion DEX volume reflects Base’s growing appeal among traders, particularly in ETH-USD pairs, which benefited from recent price volatility. Alexander, another blockchain enthusiast, noted that this milestone marked the first time Base nearly tagged $3 billion in daily volume, alluding to the development as evidence of L2’s growing adoption.

AerodromeFi, a liquidity-focused decentralized protocol on Base, also recorded an all-time high of $1.68 billion in volume, further emphasizing the ecosystem’s momentum.

“This is the first time Base nearly passed $3 billion and AerodromeFi set a new ATH of $1.68 billion in volume,” Alexander commented.

Base’s success is particularly notable because it operates without a native token. Coinbase explicitly ruled out launching a token for Base, prioritizing ecosystem growth and user adoption instead. This approach has likely contributed to its traction by focusing on utility and reducing speculative risks that could deter long-term users.

“There are no plans for a Base network token. We are focused on building, and we want to solve real problems that let you build better,” Base lead developer Jesse Pollak stated recently.

Consistent Growth in Transactions and TVL

The recent achievement follows Base’s earlier milestones, including reaching one billion transactions two months ago and surpassing six million daily transactions in October. More closely, the network recently outpaced Ethereum in user growth amid growing crypto markets.

Additionally, Base’s Total Value Locked (TVL) has seen consistent growth, indicating increased user participation, asset inflows, and liquidity within its ecosystem. A rising TVL signals greater confidence in the platform, fostering a stronger and more sustainable DeFi environment.

Base TVL and DEX Volume. Source: DefiLlama

Despite its impressive growth, Base has faced some criticism. The network was accused of copying aspects of an NFT project, sparking concerns over originality and intellectual property. While this controversy did not deter adoption, it highlights the challenges of rapid innovation in the competitive blockchain space.

Base’s trajectory positions it as a serious contender in the L2 space, competing with established players like Arbitrum (ARB) and Optimism (OP). Its emphasis on utility, combined with rising user participation and liquidity, paints a promising picture for its future.

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Market

Is a Drop Below $0.92 Inevitable?

Published

2 hours ago

January 22, 2025

Coin2049 Newsletter

Cardano’s recent sideways price action has led to a surge in demand for short positions among futures traders.

As the coin’s momentum slows, traders are increasingly betting on a price decline, signaling a bearish sentiment toward ADA.

Cardano Traders Bet on a Price Decline

According to Coinglass, ADA’s Long/Short Ratio is at a monthly low of 0.82, indicating a high demand for short positions.

An asset’s Long/Short Ratio compares the number of its long (buy) positions to short (sell) positions in a market. As with ADA, when the ratio is below one, more traders are betting on the price falling (shorting) rather than rising. If short sellers continue to dominate, this can increase the downward pressure on the asset’s price.

Additionally, ADA’s Weighted Sentiment remains negative, currently standing at -0.074, reinforcing the bearish outlook for the altcoin.

Weighted Sentiment gauges the overall market bias by analyzing the volume and tone of social media mentions. A negative value signals growing skepticism among investors, often leading to reduced trading activity and downward pressure on the asset’s price.

ADA Weighted Sentiment. Source: Santiment

Notably, ADA whales have reduced their trading activity over the past week, with the coin’s large holders’ netflow dropping by 90.29%, according to IntoTheBlock.

Large holders, defined as addresses holding more than 0.1% of an asset’s circulating supply, play a significant role in market movements. A decline in their netflow indicates reduced buying activity, adding to the downward pressure on ADA’s price.

ADA Large Holders Netflow. Source: IntoTheBlock

ADA Price Prediction: Recovery to $1 or Decline to $0.80?

ADA is currently trading at $0.98, hovering just above its support level of $0.90. If bearish pressure intensifies, the price may test this support. A failure to hold at $0.90 could see ADA’s decline extend further, potentially dropping to $0.80.