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Minima Logs Data for McLaren, and More

Published

3 weeks ago

June 17, 2024

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Decentralized Physical Infrastructure Networks (DePin) are transforming the tech by enabling decentralized projects in real-world infrastructure.

Here’s what happened recently in the DePin sector: Minima has launched the world’s first on-chain race data logger for the McLaren GT4 supercar, SEALCOIN introduced a new IoT platform supported by strategic investment from The Hashgraph Association, Particle Network Joined Peaq Ecosystem.

Minima Debuts Blockchain-Powered Data Logger for McLaren GT4

Minima has successfully powered the world’s first on-chain race data logger for the McLaren GT4 supercar. This technology debuted at the renowned Spa-Francorchamps circuit, marking a massive advancement in motorsport data management.

The data logger, developed by Influx Technology, uses Minima’s L1 blockchain. This ensures the immutability and transparency of critical race data. Over twenty parameters, such as ignition timing, braking, and engine temperature, are logged in real-time. This system provides teams with reliable, unalterable data, enhancing decision-making and compliance.

““We believe that the full potential of blockchain has yet to be realised. To achieve mainstream adoption, it must provide real-world utility and seamless integration. We are collaborating with Influx to resolve a real challenge faced by the automotive industry. This partnership sets a new standard in race data logging, combining cutting-edge blockchain technology with the prestige and precision of McLaren’s racing heritage in their GT4 supercar,” said Hugo Feiler, co-founder and CEO of Minima.

Minima’s blockchain integration addresses long-standing industry challenges by ensuring data integrity and security. This development is a huge step towards optimizing performance and maintaining compliance within the competitive motorsport environment.

SEALCOIN Launches Blockchain-Based IoT Platform with Hashgraph Support

SEALSQ Corp has launched SEALCOIN AG, a new entity focused on DePIN. Backed by strategic investment from The Hashgraph Association, SEALCOIN meets the growing need for efficient, trustworthy transactions in the IoT sector, especially in Transactional IoT (t-IoT).

Using Hedera’s decentralized ledger, smart contract service, token service, and consensus service, SEALCOIN creates a DePin infrastructure. This allows IoT devices to autonomously handle transactions without human intervention or unnecessary middlemen, improving IoT interactions’ efficiency, security, and reliability.

“We at The Hashgraph Association believe that DePIN solutions are positioned to revolutionize the connected economy, bringing trust, efficiency, and innovation to enterprises and users on Hedera’s distributedledger technology. We are excited to be supporting SEALCOIN AG in bringing DEPIN Transactional IoT forward in a scalable, secure, and transparent manner,” stated Kamal Youssefi, President of The Hashgraph Association.

The SEALCOIN utility token facilitates service-for-payment exchanges, ensuring efficient, reliable data management. This collaboration highlights the potential of blockchain in amplifying IoT transactions and setting new standards for security and efficiency.

Particle Network Joined Peaq Ecosystem

Particle Network has joined the peaq ecosystem, integrating its Wallet Abstraction solution. This will help the community grow beyond Web3 natives, bringing peaq and its DePIN projects to millions of potential users worldwide.

Particle’s Wallet Abstraction is a modular tool designed to help Web3 developers easily onboard Web2 users to decentralized applications (dApps). It allows users to log into dApps using existing email or social media accounts and enables developers to embed non-custodial wallets directly into their dApps interfaces.

“With our Smart Wallet, joining a DePIN on peaq becomes as trivial as logging into a regular Web2 app. However, this is only the beginning. As we further deploy chain abstraction infrastructure, any user from any chain will be able to access DePIN dApps, allowing for truly borderless adoption,” said Pengyu Wang, CEO of Particle Network.

Peaq ecosystem — Peaq Ecosystem. Source: Peaq

These developments indicate a promising future for DePIN, with more prominent players entering the sector and new solutions emerging. While DePIN is still in its early stages and has some flaws, it allows for the exchange of tokens between synthetic and real-world assets. This supports traditional infrastructure by providing last-mile coverage in areas where conventional models are not economically feasible.

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

LayerZero On The Rise: ZRO Bullish Momentum Points To New Highs

Published

1 hour ago

July 6, 2024

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LayerZero (ZRO) is currently experiencing strong bullish momentum, positioning itself for potential new highs in the future. This sustained upward trend indicates growing investor confidence and increased market interest in the platform’s capabilities.

As ZRO continues to gain traction, technical indicators suggest that this momentum could drive the price to unprecedented levels. Traders and investors are closely monitoring this movement, anticipating further gains and strategic opportunities as LayerZero pushes toward new market peaks.

This article delves into providing an in-depth analysis of ZRO’s current bullish momentum and its potential to reach new highs. By examining current price performance and technical indicators, this article seeks to provide strategic advice for investors looking to capitalize on ZRO’s potential growth.

ZRO was trading at around $4.15 and was up by 36.66% with a market capitalization of over $456 million and a trading volume of over $816 million as of the time of writing. There has been a 24-hour increase of 36.62% and 152.75% in ZRO’s market capitalization and trading volume respectively.

Analyzing The Current Bullish Trend Of ZRO

A technical analysis of ZRO’s price action on the 1-hour chart reveals that the crypto asset is actively bullish and trading above the 100-day Simple Moving Average (SMA). Since facing rejection at the $2.69 support level, ZRO has been consistently bullish and is currently attempting to break above the $4.28 resistance level.

The formation of the 1-hour William alligator signals that the price of ZRO may continue to extend its bullish trend as both the alligator lip and teeth are currently trending above the jaw after a successful cross above it.

On the 4-hour chart, it can be observed that ZRO is actively bullish. Although the price is attempting a short-term pullback by dropping a bearish candlestick, the crypto asset may extend its bullishness in the long run.

Additionally, the 4-hour William alligator indicates more bearishness for ZRO as both the alligator lip and teeth are actively trending above the jaw after moving above it.

ZRO Price Forecast

Analyzing potential future possibilities of ZRO’s price movement reveals that if the digital asset breaks above the $4.28 resistance level, it may move higher to challenge its all-time high of $5.62. If this level is breached, ZRO might move on to create a new all-time high.

However, if the price of ZRO experiences rejection at the $4.28 resistance level, it will begin to descend toward the $3.27 support level. Should the asset breach this level, it may continue to decline to test the $2.69 support level and possibly move on to test other higher levels if it breaches the $2.69 level.

ZRO

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Market

This Is How Ripple (XRP) Price Recovery Will Take Place

Published

3 hours ago

July 6, 2024

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Ripple (XRP) price momentum has turned bearish, and its potential for recovery has also cooled down.

One of the biggest reasons is the lack of activity among XRP holders, rendering their optimism useless.

Ripple Investors Try but Not Too Hard

XRP price is bound to be impacted by both the attempt and lack of participation noted among the investors. The presence of XRP holders remains weak, affecting the potential for recovery.

The low level of engagement is evident, with active addresses averaging under 20,000 on a daily basis. This lack of activity suggests a decrease in short-term trading and concern about bearing losses.

However, despite the weak participation, conviction among XRP holders remains strong. This is reflected in the Mean Coin Age (MCA), which has noted an uptick. The increasing MCA indicates that investors are holding onto their XRP for longer periods, showing faith in the asset’s future potential.

The rise in MCA also suggests that investors are refraining from moving their holdings around. By holding their assets rather than engaging in frequent transactions, they demonstrate a long-term belief in XRP. This behavior is often indicative of confidence in the cryptocurrency’s eventual recovery.

While the current low level of daily active addresses is a concern, the strong conviction shown by the uptick in MCA provides a silver lining. If this trend continues, it could help stabilize XRP’s price and support a potential recovery, as long-term holders typically contribute to market stability.

XRP Price Prediction: Tall Hike Ahead

The XRP price is trading at $0.43, recovering from the lows of $0.41 over the last 24 hours. Based on the aforementioned cues, consolidation is likely under $0.46. A breach, however, could help recover the recent losses.

XRP Price Analysis. Source: Tradi n gView

But if the bearish cues continue to dominate the altcoin, the XRP price could lose the critical support of $0.41 again. This would invalidate the bullish-neutral thesis, resulting in further drawdown.

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

Shiba Inu (SHIB) Price Recovery Likely as Losses Run up by 42%

Published

4 hours ago

July 6, 2024

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Shiba Inu’s (SHIB) price is bouncing back from four-month lows, looking to recover the losses witnessed in the past month.

Investors also have a shot at making the most of this opportunity, as selling will likely take a break for now.

Shiba Inu Investors Lose Big

While Shiba Inu’s price only declined by 15% over the last week, the impact on investors was three times larger. The total supply in profit dropped by close to 42%, falling from 75% to 33% in a day.

This is because about 434 trillion SHIB, worth $6.7 billion, was bought between $0.00001900 and $0.00001500. As the meme coin slipped to $0.00001281 during intra-day lows yesterday, this supply lost its profitability completely. This will keep investors from selling now, as such a large supply would only be sold when it bears profit again.

Shiba Inu Supply In Profit. Source: Santiment

Furthermore, most investors anticipating recovery and profits will likely turn to accumulation. The Market Value to Realized Value (MVRV) ratio suggests a good opportunity to do so.

The MVRV ratio assesses investor profit and loss. Currently, Shiba Inu’s 30-day MVRV stands at -14.5%, indicating losses, which may lead to buying pressure.

Historically, SHIB’s MVRV between -7% and -18% usually signals the start of recoveries and rallies, marking an opportunity zone for accumulation. This could help steer Shiba Inu’s price upwards.

SHIB Price Prediction: The Critical Range

The range between $0.00001473 and $0.00002093 is critical to Shiba Inu’s price as it houses 73% of all SHIB circulating supply. For this reason, the meme coin could find considerable resistance here.

Nevertheless, investors’ attempts to recover their profits would motivate them to push SHIB upwards. Once $0.00002093 is breached, the altcoin would have a shot at profits.

Shiba Inu Price Analysis. Source: TradingView

However, if this breach fails, Shiba Inu’s price might consolidate within this range. This would continue until stronger bullish cues help the coin escape; otherwise, the bullish thesis would be invalidated.

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