A [threat](https://www.coinbase.com/blog/we-asked-the-sec-for-reasonable-crypto-rules-for-americans-we-got-legal) by the US Securities and Exchange Commission (SEC) to sue Coinbase Inc. has seen the Coinbase share price drop nearly 15% to $67.33 following extended hours of trading. The [Wells Notice](https://www.law.cornell.edu/wex/wells_notice) by SEC is a formal declaration that the US watchdog aims to recommend an enforcement action.

Market data shows the Coinbase share price closed at $77.14 during the typical trading session, having shed some 8.16% of its value. Nonetheless, COIN, the platform's native coin, dropped 15.8% of its value in the after-hours and closed the day at $64.95. The Coinbase stock has lost a cumulative 57% of its value over the last year. 

## Coinbase SEC probe targets essential products

The regulator has been [intensifying its efforts](/news/article/sec-crypto-enforcement-warning) to try and clean up the largely unregulated crypto market following the implosion of cryptocurrency exchange FTX late last year. 

According to the firm, the Coinbase SEC probe targets some of its essential products, such as the spot market, EARN, Prime and Wallet products, and staking, which has already been under scrutiny.

The SEC has previously trained its guns on [staking](/news/article/what-is-staking-crypto), a process through which cryptocurrency holders use their crypto holdings to stabilize platforms. They validate the blockchain transactions and receive eye-popping yields in return.

The regulator forced cryptocurrency exchange [Kraken](https://www.sec.gov/news/press-release/2023-25) to [wind up its cryptocurrency staking program](/news/article/crypto-tumbles-as-kraken-suspends-staking) last month, forcing the platform to part with $30 million in penalties for 'failing to register the program'. The SEC has already charged Chinese crypto enthusiast Justin Sun and several celebrities with illegally promoting crypto assets.

## A precursor for extra enforcement by the SEC

Per the SEC's allegations, staking, which involves the pooling of crypto resources, creates investment contracts and therefore qualifies as a security under the US Supreme Court case [SEC vs. Howey](https://www.investopedia.com/terms/h/howey-test.asp). The regulator opines that cryptocurrency exchanges violate the country's securities laws by offering such programs to investors.

The looming Coinbase SEC probe targeting products the regulator considers securities means that platforms offering staking as a service will be forced to restructure their programs to comply with the securities law or halt them altogether.

Staking service providers, most of which are cryptocurrency exchanges, must now wake up to the fact that the SEC is increasingly indicating that it considers most pooled staking programs as securities. For the larger crypto sphere, the regulator's actions should be seen as a precursor for extra enforcement by the SEC into the industry.


red image of coinbase website and coinbase coins with red filter

Looming Coinbase SEC Probe Upsets COIN Price 

If you're considering making money from your crypto holdings in 2023 and beyond, this guide discusses Raydium staking and shows you how to make money from it.  

There are different ways to make a fortune from the burgeoning cryptocurrency market. Most people have only heard about buying and HODLing crypto traditionally while waiting for prices to improve, but staking to earn passive income on idle cryptocurrencies in an ingenious method.

## What is Raydium?

[Raydium](https://raydium.io/) is a decentralized automated market maker (AMM) built on the Solana blockchain. It draws its liquidity from the Serum decentralized exchange (DEX). The platform facilitates trading digital currencies, like cryptos, via liquidity pools, which remain a significant feature in the Decentralized Finance (DeFi) circles.

Liquidity pools are made of individuals (liquidity providers) who lock their crypto in a smart contract to be used as trading pairs in markets for traders on the DEXs. An AMM protocol guarantees liquidity in a digital market, such as a cryptocurrency exchange. AMMs are designed to set asset sales and purchase prices automatically and are primarily used in predictive markets. 

As an AMM, Raydium plays two fundamental roles. Apart from providing access to Serum’s order book, its algorithm is based on CFAMM (constant function automated market maker), a continuous function whose architecture is anchored within Solana and Serum.

## What is RAY and how does it work?

RAY is the native token of the Raydium ecosystem. It was launched on 21 February, 2021, with an initial supply capped at 555 million tokens. The RAY development team apportioned and locked up 20% of the supply that couldn't be sold for three years. One-third of the total RAY token supply (188 million tokens) is available for mining, and it's estimated that block rewards will be halved every six months. In the same vein, 0.03% of transaction fees earned on the platform are reserved for Raydium staking rewards.   

## What can RAY tokens be used for?

Holders of the RAY token can generate interest, totaling up to 0.03% of the platform's total trading fees, via Raydium staking, besides getting some limited rights to intervene partially in the protocol's governance. RAY holders can also vote for proposals on amendments and issues submitted to the community. The size of a user's voting power is determined by the amount of RAY tokens they own. You can buy RAY from numerous leading cryptocurrency exchanges where it's listed or directly from the Raydium website.

## What is Raydium staking?

[Staking in crypto](/news/article/what-is-staking-crypto) is a process similar to the mining function. Participants are selected to add blocks and establish the validity of transactions for which they get rewarded in crypto. While the exact implementation may differ for different projects, participants lock in their tokens for a specified period to guarantee that they will act in good faith and not violate the rules.  
  
If you're a long-term crypto holder, Raydium staking can work for you by generating passive income instead of you letting your digital assets gather dust in your wallet.

Moreover, staking contributes to the security of the Raydium protocol, making it resistant to attacks as you strengthen its transaction processing ability. Staking Raydium in its farms of fusion pools also enables you to earn more RAY tokens. Currently, stakers can make an annual percentage return (APR) for staking RAY at [9.84%](https://raydium.io/staking).

## How to stake RAY 

Raydium staking is a straightforward process that takes three simple steps:

1.	Select your favorite crypto exchange.

2.	Buy RAY tokens or transfer your coins to your [crypto wallet](/news/article/cryptocurrency-hardware-wallet).

3.	Stake, and wait to start earning.

You can also stake directly on the Raydium website by clicking the STAKE tab and confirming the transaction.

Your RAY token rewards will grow depending on the current APR against the RAY vault. You can collect your accrued rewards at intervals. At this point, you withdraw your original staked amount plus the earned rewards.

## Is staking Raydium a good investment? 

Since the character of cryptocurrency experiences a wavelike motion, there's every chance that the price of RAY can appreciate and get to an all-time high as the crypto winter thaws. Should the price of Raydium increase, it could generate good returns, giving Raydium staking a good long-term earning potential.


green image of Raydium crypto token logo with periodic table in the background

Raydium Staking: Earn Crypto Rewards Easily 

A week after [Signature Bank closed](/news/article/why-signature-bank-fell-so-fast), Flagstar Bank, a New York Community Bank subsidiary, has agreed to purchase a huge chunk of the failed institution in a $2.7 billion deal.

According to the Federal Deposit Insurance Corporation (FDIC), all of Signature Bank's 40 branches will operate as Flagstar Bank beginning Monday. Customers won't need to make any changes to conduct business with the new bank. 

## Flagstar bid excluded $4 billion crypto deposits

FDIC's 19 March [press statement](https://www.fdic.gov/news/press-releases/2023/pr23021.html) didn’t address the fate of the much larger [Silicon Valley Bank](/news/article/silicon-valley-bank-uk-to-be-bought-by-hsbc) (SVB) that the regulator took over two days before taking over Signature Bank.

The takeover deal includes purchasing Signature Bank's assets worth $38.4bn. SVB had $209 billion in assets compared to Signature Bank's $110.36 billion.

Per the announcement, the Flagstar takeover bid, which includes a $60 billion loan portfolio, excluded $4 billion associated with Signature's crypto banking business. Accordingly, crypto deposits will remain with the agency in receivership, and FDIC will provide [them directly to the customers](https://twitter.com/nic__carter/status/1637609420929597440) concerned.

The shutting down of Signature Bank came hot on the heels of the fall of the crypto-friendly [Silvergate Capital](/news/article/silvergate-bank-crisis-sees-crypto-tank) earlier in March and the 12 March closure of SVB, which previously caused [Circle’s](/news/article/circle-usdc) USDC to stumble and lose its peg to the US dollar. Commenting during a previous press interview, Circle's Chief Strategy Officer [Dante Disparte](https://forkast.news/video-audio/circles-disparte-crypto-banking-risks/) opined that the ongoing fallout was a stress test for traditional finance and emerging cryptocurrencies, presenting an opportunity for them to "weather the storm side by side".

## Traditional banks introducing risk to the crypto space

The unwillingness of Flagstar Bank to take over all of Signature Bank's assets, including the crypto-related ones, indicates that banks are becoming wary of taking on risk due to the spreading banking crisis.

The ongoing banking failures demonstrate that, contrary to what everyone else might have thought, traditional banks are now introducing risk to the crypto space. The current state of affairs is the opposite of the "travel risk" regulators routinely offered to would-be crypto investors on the risk that crypto would introduce to banking.

The back-to-back failure of Silicon Valley Bank and Signature sparked a nationwide fear that it could kick off a more significant crisis of confidence within the US banking system.

FDIC is looking to step in and save the situation by brokering sales to pay back the failed banks' depositors to more vital financial institutions.


Flagstar to Buy Signature's Non-Crypto Assets 

The collapse of crypto-friendly Signature Bank happened so fast that it qualifies to become a textbook case of a classic bank run. Together with Silvergate and [Silicon Valley Bank](/news/article/silicon-valley-bank-uk-to-be-bought-by-hsbc) (SVB), the trio that have been the go-to financial institutions involved in crypto banking suffered massive operational blows within less than a week.  

Startled by the sudden collapse of SVB, customers had a run on Signature Bank last Friday, March 10. They withdrew more than $10 billion in deposits, leading to the third-largest bank failure in the history of the US. Regulator Federal Deposit Insurance Corporation (FDIC) [announced last Sunday](https://www.fdic.gov/news/press-releases/2023/pr23017.html) that it was taking over Signature to protect depositors and help stabilize the US financial system.  
  
## Customers had a run on Signature Bank

The sudden move has shocked the New York-based institution, which has deep ties with not only the crypto but also the legal and real estate industries and boasts more than 40 branches, deposits of $88.59 billion, and assets worth $110.36 billion by the end of 2022. 

Trouble for US banks associated with crypto and tech startups reached a crescendo last week with the announcement of the winding down of the crypto-friendly Silvergate Bank. 

While [Silvergate’s demise was imminent](/news/article/silvergate-on-verge-of-collapse), it ignited panic about uninsured customer deposits in institutions. That led to Venture capital investors and founders draining their accounts at SVB Thursday last week and its subsequent seizure by midday Friday. The ensuing worries must have spread to Signature, First Republic, and others that now risk a similar fate out of fears that uninsured deposits could be locked up or lose value. Both situations could be fatal to startups.

## Decision not directly related to crypto

According to New York’s [financial regulator](https://www.reuters.com/business/finance/signature-banks-closure-had-nothing-do-with-crypto-new-york-regulator-2023-03-14/), the decision to seize Signature Bank wasn’t directly related to crypto but rather a “crisis of confidence” in the institution’s leadership following the SVB crisis. 

Signature has been an integral institution for the crypto industry and hosts tools that facilitate digital transactions for mainstream crypto companies. The bank is part of a small group of mainstream banks serving the crypto industry.  

Federal regulators will now most likely shine their spotlight on other banks offering crypto services, while traditional banks could think twice before dipping their toes. Considering the volatility of the crypto market and the cost of maintaining compliance, there may be a need for players within the crypto space to work harder to retain the growing interest in banks experimenting with crypto and related blockchain technology.


Why Signature Bank Fell So Fast

Peculiar to Proof-of-Stake (PoS) networks, crypto staking has become a popular means for holders to put their idle digital assets to use and earn passive income. Since there's good money to be made, this article explains what to consider when choosing the best platform to earn staking rewards besides proposing a few select ones.

## Understanding crypto staking 

[Crypto staking](/news/article/what-is-staking-crypto) imitates a regular savings account where users lock up their cryptocurrency for a specific time to secure the network. The platforms use the staked funds to process transactions and strengthen themselves from attack. Stakers, for their effort, earn staking rewards, a portion of the transaction fees made by the platform. Through staking, users of a particular blockchain unite to ensure the blockchain's integrity and security.

## How to stake crypto 

The process of staking crypto is usually similar for most PoS cryptocurrencies:

### Step 1: Buy a PoS cryptocurrency

### Step 2: Choose a digital wallet that supports staking (MetaMask and Atomic are good examples) for the coin you want to stake.  
 
### Step 3: Transfer your cryptocurrency to your digital wallet. (It’s safer using your wallet instead of the ones offered by exchanges).

### Step 4: Stake directly to a validator or join a staking pool

### Step 5: Start earning rewards. The system automatically adds your rewards to your staked amount, enabling you to earn more the in the next earning round.  

Considerations when choosing the best crypto staking platform
It would help to consider the following factors before deciding on the best staking service provider.

The number of stakeable coins: The greater the number of stakeable coins, the more avenues for generating passive income, meaning you can spread your risk across many tokens. 

APR on Offer: The Annual percentage return (APR), also known as annual percentage yield (APY), should be a key consideration. The higher the APR, the more income you generate. 

Fees: Research the fees charged when looking for the best crypto staking platform and weigh your options carefully since some offer zero fees for staking.

Security: The security of your cryptocurrency is paramount. Before signing the dotted line, determine if the platform is regulated by any global body and its security measures.  

## Best crypto platforms for staking

Since most native exchanges offer users a chance to earn passive income from staking, we will introduce five leading platforms so you can choose the best crypto staking platform for you.

1.  Crypto.com 
The Singapore-based [Crypto.com](https://crypto.com/earn) runs a crypto staking pool and allows users to stake on several leading coins, including Bitcoin (BTC), Cardano (ADA), Ethereum (ETH), its native token Cronos (CRO) and at least 40 others. The platform offers flexible and locked staking and charges 2.99% staking fees. The most notable features include the following: 

•	Deep liquidity.

•	A wide variety of assets.

•	Higher earnings if you stake Cronos.

•	Access crypto at the actual cost.

•	Lock-up period of up to 90 days.

•	APR – 14.5%.

2.  Binance Earn 
Launched in 2017 and considered the largest cryptocurrency exchange worldwide, Binance trades more than $65 billion daily and is loved by crypto users globally. It runs a crypto staking platform called [Binance Earn](https://www.binance.com/en/defi-staking) that offers DeFi, locked and flexible staking, and doesn’t charge staking fees. Some features include: 

•	Supports most PoS coins.

•	High-interest rates.

•	Different deposit options.

•	Lockup period up to 90 days maximum.

•	Supported coins: Most PoS coins.

•	APR is variable.

•	Interest distributed daily.

•	High-level security.

3.  Kraken 
The US-based [Kraken](https://pro.kraken.com/) cryptocurrency exchange is popular as it’s built to attract newbies and expert cryptocurrency investors, offering many tradable digital assets. Kraken provides a sizeable crypto staking library allowing users to earn from at least 12 coins. The platform offers an option to pay staking rewards in fiat currencies like the USD and Euro. Key features:    

•	Offers cryptocurrency and fiat staking.

•	Off-chain staking available.

•	Efficient staking experience.

•	Flexible and locked staking.

•	Interest paid twice weekly.

•	Variable staking fees.

•	Supports 12 PoS coins.

•	APR – Variable.

4.  eToro 
Staking is free for members of various [eToro](https://www.etoro.com/crypto/staking/) clubs, but the earnings vary based on the particular membership plan. The staking rewards are split according to membership category: Bronze - 75% of the yield, Silver, Gold, and Platinum – 85%, while Diamond and Platinum+ earn 90% of the yield. APR is between 5 and 6.25%. The eToro platform currently supports three cryptocurrencies for staking, namely Ethereum (ETH), Cardano (ADA), and Tron (TRX). Features include:

•	High yield ratio.

•	High-level security.

•	Social trading capabilities.

•	Locked staking.

•	Variable staking fees.

•	Interest paid monthly.

5.  Gemini 
[Gemini exchange](/news/article/gemini-staking-support-launches) is a state-of-the-art crypto staking platform offering staking rewards of up to 8.5% APR besides allowing staking for stablecoins. The platform provides zero transfer and withdrawal fees, with no minimum staking amount or hidden costs. Some notable features include:    

•	Supports over 40 coins.

•	Offers cold storage.

•	Regulated by New York State Department of Financial Services.

•	No staking fees.

•	Variable APR.

•	Interest paid monthly.

## Conclusion

This guide has discussed crypto staking, choosing the best platform, and a rundown of the leading platforms and the coins they allow staking on. If you're going to put your hand into your pocket to trade, do more research and only put in an amount you can afford to lose.


Best Crypto Staking Platform Review

The global cryptocurrency market experienced [a broad sell-off on Friday](https://coingape.com/markets/), the first time since a mid-January wave heralding bearish news that could overshadow crypto's recent 2023 uptrend. As the cumulative crypto market appeared to crash, the Ethereum price today dropped by a whopping 7.87% to trade at $1,400.

In what appears to be partly the result of the market's reaction surrounding the future of US-based crypto banks, the entire crypto market lost at least $60 billion in the past 24 hours, standing at $930 billion at the time of writing. Pundits are pointing at the demise of the crypto-friendly [Silvergate Bank](/news/article/silvergate-on-verge-of-collapse) ([a gap BCB Group is trying to plug](https://news.monitalks.io/news/article/bcb-group-acts-to-close-silvergate-gap)), a hawkish FED, and possibilities of government sale of Silk Road-related Bitcoin as among the reasons investors might have engaged in panic selling.

## Ethereum loses $1,500 support level

Bitcoin, the world's largest digital asset by market capitalization, wasn't spared the bloodbath, suffering a liquidation of $120 million over the last 24 hours, having shed a massive 8%. As for the world's second-largest crypto by market cap, Ethereum price today lost the $1,500 support level, trading at $1,414 with a market capitalization of $173.05 billion. The data showing a 58.60 increase in trade volume indicates decreased investor interest.   

Several events in the last few weeks have been cited as enough reason for investors to get into panic mode. First, there's been a stronger-than-expected inflation report calling into question the US's recent assertion about an ongoing disinflation trend. The FED itself didn't make things easier by acknowledging the same, even as its chair, [Jerome Powell](https://www.federalreserve.gov/newsevents/testimony/powell20230307a.htm), informed Congress that the central bank had its work cut out if it was going to reverse inflation back to its 2% target.    

## A somber alarm bell for the crypto trading markets

Moreover, the collapse last Wednesday of crypto-friendly lender Silvergate Bank and the US Department of Justice [moving 49,000 Bitcoin](https://twitter.com/PeckShieldAlert/status/1633331891347820544) it seized from Darknet marketplace Silk Road to a new Bitcoin address pointed to a possibility that the government could sell its sizeable cryptocurrency stash. The combination of all these factors is a somber alarm bell for the crypto trading markets only one week after the market experienced [$200 million liquidation](https://www.coinglass.com/LiquidationData) in minutes. 

The declining ETH price happens as Ethereum's developers plan to launch the Goerli testnet on or around 14 March, a tryout for the much anticipated [Shanghai Upgrade](/news/article/eth-shanghai-upgrade-postponed) that was pushed to sometime in April.


red image of hands holding ethereum coin on red background

Ethereum Price Today: 7% Fall 

UK-based payment processor specializing in linking crypto firms to the banking world, BCB Group, is ramping up its dollar-to-crypto capabilities following Silvergate Exchange Network (SEN) shutting down. The firm hopes to have the [fiat-to-crypto system](/news/article/crypto-banks-access) ready to roll early in the second quarter.

Speaking during a [media interview](https://www.coindesk.com/business/2023/03/06/crypto-banking-firm-bcb-readies-us-dollar-payments-to-plug-silvergate-gap/), the group's CEO, Oliver von Landsberg-Sadie, stated that the BCB Liquidity Interchange Network Consortium (BLINC) is a dollar component that has been in the pipeline for the last year and which will launch soon. He said the move is meant to plug the hole left by the departure of SEN, besides providing continuity to BCB and Silvergate clients. 

## BCB has a payment license from UK financial regulator

Launched in Mid-2020, BLINC facilitates a real-time settlement system for fiat currencies like the Euro, British Pound, and the Swiss Franc, similar to what Silvergate did for US-based crypto clients transacting in dollars. The firm provides fiat-to-crypto solutions to Europe's leading institutional players, including Galaxy Digital, Bitstamp, Kraken, and Gemini. London-based BCB has a payment license from the Financial Conduct Authority (FCA), the UK's regulator.

According to Landsberg-Sadie, unlike SEN, BLINC is multicurrency and not tied to a particular credit institution. It's purposely designed as a payment institution that provides onramps to numerous banks in the UK, Switzerland, and several other European countries.

Considering Silvergate's waterloo was when the firm allowed long-term Bitcoin bets against short-term cash deposits, a titanic feat during 2022's crazy markets, Landsberg-Sadie said the group's funds are 1:1, no leverage, no pledge, and always fully protected with safeguarded funds.

## An alternative to the Silvergate and Signature Bank networks

The firm’s move will help widen the space for crypto companies struggling to integrate with traditional banking systems by including USD capabilities.

The groups’ entry and launch of BLINC will offer an alternative to the Silvergate and New York-based Signature Bank's networks. BLINC introduces a decentralized model that provides excellent stability and security to clients, giving it great potential within the crypto payments space. Signature's Signet is currently the following largest network for USD instant settlement.

Crypto companies that hoped to revitalize traditional banking by integrating cryptocurrency have always been skating on thin ice. Consequently, the accompanying [crashes such as FTX](/news/article/is-crypto-dead) and scandals that sparked a cacophony of responses from US-based regulators are almost suffocating the nascent crypto-banking startups.


BCB Group Acts to Close Silvergate Gap

If you're looking for a non-traditional way of making interest, KDA staking could be an attractive option.

While cryptocurrencies are generally volatile assets and involve some amount of risk, it's possible that you don't know that staking crypto could offer higher returns than you could earn in your traditional savings account. Read on to understand how you can do it.

## What is Kadena?

Kadena coin (KDA) is the native coin of [Kadena](https://kadena.io/), a hybrid blockchain network that presents itself as an alternative to market leaders like Bitcoin (BTC) and Ethereum (ETH). The digital currency can be used to pay for transactions on the Kadena blockchain besides compensating miners for mining blocks on the network. The token is available on a number of centralized exchanges that mainly offer KDA/USDT and occasional KDA/BTC pairs.

## What is crypto staking?

[Crypto staking](/news/article/what-is-staking-crypto) refers to locking your digital assets for a specified time to support a blockchain network's operations. Blockchains, especially those that use a Proof-of-Stake (PoS) consensus mechanism, use a network of participants to validate transactions and add new network blocks. The participants earn more cryptocurrency in return for staking their crypto as a form of insurance. However, should the stakers validate a fraudulent or flawed transaction, they risk losing some or all of their staked crypto. Ethereum (ETH) and Solana (SOL) are examples of other networks that offer crypto staking.   

## How KDA staking works

Staking on PoS blockchains is a continuous process since transaction validation is ongoing. Besides putting their idle cryptocurrencies to work without selling them and earning passively, KDA staking offers token holders network decision authority. That's almost similar to putting money in a savings account or investment bank and receiving interest.   

What you can earn depends on the crypto supply on the participating exchange and the borrowing demand by financial institutions, commercial, retail borrowers, and staking. Stakers can choose durations between one month, three months, six months, and one year. Generally, the longer the staking duration, the greater the number of rewards based on the timeframe. What you can earn in KDA staking rewards ranges from 11% Annual Percentage Rate (APR) for a one-month plan, 14% and 16% for three months and six months, respectively, and up to 18% APR for a one-year program.

## Is Kadena staking a good investment?

The best thing about KDA staking is the opportunity to earn additional tokens, which can be lucrative. You can reach more than 20% or even 100% in extreme situations during the best times, making it an advantageous investment option.

Moreover, unlike crypto mining, which requires investing in hardware whose value goes down with time, the amount of KDA you stake doesn’t depreciate. Only price movements can affect the value of your Kadena tokens. 

With Kadena price forecasts showing the token price could improve and go beyond $2 in 2023 to a maximum of $2.50, this could become a profitable investment in the future at the current prices.


KDA Staking: Earning Kadena Rewards 

When evaluating crypto coins, you can’t compare the DASH cryptocurrency against leading digital assets like [Bitcoin](/news/article/bitcoin-forecast-2023) and [Ethereum](/news/article/ethereum-pow-price-prediction). However, it is incredible how such a technological innovation has kept a strong foundation and remarkable technical structure that keeps attracting investors to the platform.

The DASH protocol is an open-source token that forked off the Bitcoin blockchain and prided itself on offering fast and affordable transactions besides delivering diversified application details for developers. Despite the price slump recently experienced throughout the crypto sphere, Dash seems to display great future potential and could reclaim its all-time high value. 

This DASH cryptocurrency price prediction dissects the Dash network’s essential features, the important factors that could drive its upward trajectory, and what you can expect its price to be by the end of 2023 and beyond. Welcome on board.  

## What is DASH?

DASH is a cryptocurrency that can be transferred in peer-to-peer transactions to anyone, anywhere, fast, hassle-free, and affordable. The Dash blockchain operates without a central authority, and the developers’ goal was to create a proficient and hands-on solution for transferring digital cash.  

Dash (DASH) was founded as Xcoin on 18 January, 2014, by Evan Duffield and later rebranded as Darkcoin before rebranding again to DASH in 2015 to better embody it as a platform for "digital cash". [DASH originated as a fork of Litecoin](/news/article/dash-or-litecoin), a fork of the Bitcoin (BTC) protocol, and aimed to address the shortcomings of BTC’s privacy and transaction times. 

Duffield and his team designed DASH to safeguard users' anonymity using the x11 algorithm and Masternodes to accelerate transaction times. The founder stepped down in 2017 and left the protocol running to the Dash Core Group. 

DASH created a niche among the pioneer cryptocurrencies that emerged alongside Bitcoin and has continued to dominate the crypto sphere alongside the giants. The digital asset's value has risen in recent years to rank number 12 among the leading cryptocurrencies in 2018.    

## How does DASH work?

DASH cryptocurrency uses a two-tier network that enables Masternodes and crypto miners to run concurrently. The first layer is dedicated to crypto miners who compete against each other to create new blocks that secure the blockchain. The task performed by miners is crucial as it preserves the DASH blockchain’s transaction history and prevents double-spending.
   
The second layer is dedicated to and controlled by Masternodes, referring to users on the blockchain network who can stake up to 1,000 DASH tokens to take up some functions that are usually the preserve of miners. Masternodes complement the work of cryptocurrency miners by ordering and authenticating transactions. 

The DASH utility token is among the recognized payment methods for payable fees on the Dash network and for staking within the Dash Masternode system, where users help secure the system in return for passive income. A 2.5-minute block time on average by DASH is the main attraction of Dash when compared to Bitcoin, whose block time is at least 10 minutes.

Please note, though, that DASH crypto miners receive 45% of each block they mine compared to the 100% offered by the Bitcoin network.  

## Where does DASH get its value? 

DASH derives its value from the utility it offers its users. Mostly, the coin is helpful as a means of exchange, accepted by more than 150,000 merchants and outlets worldwide. Also, the crypto is active in more than 50,000 addresses, and it's estimated to process billions of transactions annually. The previous facts demonstrate its growing value and utility, giving it a competitive edge over several alternatives. 

## What makes DASH unique?

DASH enjoys an impressive adoption rate globally for a coin [ranked at No. 62](https://coinmarketcap.com/currencies/dash/) on the CoinMarketCap, with several suppliers and vendors accepting it as a form of payment. DASH is especially popular in Venezuela, boasting more than 40,000 users and counting. The company's official website provides an exhaustive list of businesses supporting cryptocurrency.  

DASH packs an array of features, some of which give it an edge over other digital assets like Bitcoin and Litecoin. The crypto coin's leading features include Masternodes, PrivateSend, X11, ChainLocks, CoinLocks, and InstantSend. Let’s have an in-depth analysis of these features individually. 

## Masternodes

Just like the Bitcoin blockchain, where [miners](/news/article/mining-farm) get rewarded for verifying transactions on the network, the Dash blockchain network runs a similar program. However, the Dash system has two divisions – miners and Masternodes. To become Masternodes, users must deposit at least 1,000 DASH tokens and perform critical functions on the network. Some of their duties include responsibility for the governance and treasury system, Private Transactions (PrivateSend), and Instant transactions (InstantSend). For their effort to improve the network's security and facilitate speedy transactions, Masternodes earn 45% of the reward received from every DASH coin mined. 

## PrivateSend

Unlike the completely public Bitcoin blockchain, where details of every blockchain transaction are accessible to anyone with an internet connection, the Dash network introduces privacy through a service called PrivateSend. Through this service, no third party can trace back the details or identity of users. 

Facilitated by Masternodes, PrivateSend ensures transaction details remain private, giving the blockchain a significant advantage over the Bitcoin network. This feature makes the DASH crypto equal and all its transactions fungible since their history is unknown and cannot be tracked.

## InstantSend

While it takes just a few seconds to complete a transaction using your Visa or MasterCard, it typically takes up to 10 minutes to confirm a Bitcoin transaction. The time drag is not just a huge difference, but also raises questions about Bitcoin's scalability and potential for mass adoption. To address this challenge, DASH offers InstantSend, a service that ensures a transaction is confirmed almost in real-time. InstantSend comes at an extra cost over the regular DASH transaction that gets cleared in about 2.5 minutes. 

## CoinJoin 

The CoinJoin feature guarantees complete privacy and security for the parties involved in a peer-to-peer crypto transaction. 

Using a trustless non-custodial style, the system mixes a sequence of transactions so that an outsider can neither trace nor interrogate the transaction history. The service is only available for users with Dash and Dash Electrum wallets. 

## X11 

This unique hashing algorithm, designed by Evan Duffield, uses a sequence of eleven unique hashes to enhance efficiency and fairness. X11 ensures users enjoy maximum security by offering them zero uncertainty about digital asset transactions.
   
## ChainLocks 

The ChainLocks feature protects the Dash network from hacker infiltration or other external vulnerability while offering a real-time solution against organized threats. This feature eliminates any possibility of 51% attacks by providing fast and effective alternative solutions. 

## DAPI 

DAPI is a feature that ensures that developers in the Dash community can interact freely and securely while exchanging app data and queries through its endpoints. 

## Dark Gravity Wave 

Dark Gravity Wave is an open-source difficulty adjustment algorithm that works with Bitcoin-based cryptocurrencies such as BDC, DASH, and Litecoin. The algorithm fine-tunes a block's difficulty levels depending on the data it finds within the block. This is a practical approach that ensures the network can issue new blocks regularly while averting time-warp exploits, especially when there are high fluctuation periods.  

## Dash price prediction in 2023 and beyond 

Despite the severe crypto winter in 2022, DASH had a relatively uneventful journey. As of writing this guide, the coin's trading volume is $111,539,994.

We will interrogate the digital asset's prospects for this DASH cryptocurrency price prediction.

The price of DASH was $73.78 and a market cap of $182,560,920 out of a total circulation of 11,120,725 coins. By using real-time market data and analyzing the coin's current developments, past price actions, and social sentiments from the DASH community, we can comfortably offer this dynamic price prediction related to the recent market activity.  

## DASH price prediction 2023

With DASH considered among progressive cryptocurrencies set to rise this year, market pundits anticipate a significant price gain, especially beginning Q3, which could push it to $103.87. As expected, the price gain will be gradual but accompanied by sporadic drops now and again. While an average $96.95 increase may appear over-ambitious, a minimum of $83.10 remains reasonable especially considering anticipated collaborations and advancements.   

## DASH price prediction 2024

If the current trend continues without serious interruptions, 2024 could bring better tidings for DASH cryptocurrency. Increasing use cases could usher in fresh initiatives and partnerships that further propel DASH toward $173.12. 

Nonetheless, such an outcome will depend on DASH's comparative strength index resulting from oversold zones or bullish bets. The lowest DASH cryptocurrency price prediction for 2024 could be $138.50, with a run-of-the-mill trading price of $152.35.

## DASH cryptocurrency price prediction 2025

Depending on how matters work out in 2024, pundits see DASH reaching $242.37 in 2025. However, a pessimistic market experience could only offer investors much-needed profits even though the coin could achieve an average trading price of $207.75 at its lowest or high of $221.60.

## DASH cryptocurrency price prediction 2026

A successful 2025 combined with anticipated increased adoption by millions of crypto enthusiasts sitting on the fence could jolt the DASH coin price in 2026 and see it remaining stable for a few more years. With DASH projected to go green by 2026, the coin could quickly achieve and surpass its all-time highs and reach $311.62 or $276.99 on the lower side and an average of $290.84.

DASH cryptocurrency price prediction in 2027 and beyond 
Much of our DASH cryptocurrency price prediction is based on calculations derived from high-level technical analysis. The most powerful shot in the arm would be a bullish market that could introduce future potential partnerships from 2027 and beyond. DASH could reach a maximum price of $380.87 in 2027 with an anticipated low of $346.24. As DASH strives towards interoperability, we expect the bullish trend to push it between $415.49 and $450.12 in 2028 and hopefully between $553.99 and $588.61 by 2030.   

## The parting shot 

Since the crypto market is still highly volatile, making a dash cryptocurrency price prediction with utmost precision remains a real challenge. While Moni Talks has taken every precaution to pinpoint the anticipated future prices, it’s essential for you, our reader, to avoid taking this DASH cryptocurrency price prediction as absolute financial advice but instead use it as a stepping stone and do your research as you make investment decisions.


green dash logo over image of crypto coins

DASH Cryptocurrency Price Prediction Long Term 

Police in Massachusetts have charged a civic employee for setting up a scheme for illegal crypto mining in a small crawl space under a local school. Police alleged that 39-year-old Nadeam Nahas unlawfully attached his bank of computers to the electrical system at Cohasset Middle High School, which is at least 10 miles out of Boston.

According to [court documents](https://www.bostonglobe.com/2023/02/24/metro/man-accused-running-crypto-mine-out-cohasset-school-appears-quincy-court-arrest-warrant-canceled/), the criminal [crypto-mining](/news/article/mining-company) scheme comprised 11 computers and a multifaceted cooling system that added $17,500 to the school’s electricity bills. Authorities believe Nahas ran his crawl space mine from April to December 2021, when he worked as HVAC coordinator and assistant facilities director beginning January 2021 before resigning in early 2022.

## Items used in crypto-mining operation

In a press statement to the [BBC](https://www.bbc.co.uk/news/world-us-canada-64767178), Cohasset Police boss William Quigley stated that investigations began in December 2021 after the facilities director of the town discovered electrical wires, ductwork, and several computers that looked misplaced during a routine inspection. During the initial investigation, Nahas and his boss, the town's facilities director, reported they had shut off the computers due to the high heat they generated.

However, a subsequent investigation involving the US Coast Guard and the Department of Homeland Security placed Nahas, initially denying any involvement, at the center of the operation of illegal crypto mining. Police found credit card receipts in Nahas's name that were used to buy Coleman 48qt coolers, extreme weather foil, insulated flex ducts, a water-based sealant tub, and insulation sleeves. All the items were located in the crawl space and used in the illegal crypto-mining operation.

## On high alert about cryptojacking

Crypto mining is a process used to validate cryptocurrency transactions and create new cryptocurrency coins. However, the process consumes [massive amounts of electricity](/news/article/crypto-mining-farms). As cryptocurrency becomes more popular and grows in value, crypto mining also becomes a magnet for crypto thieves. 

Last December, authorities in Thailand seized [3,500 illegal crypto-mining units](https://www.bangkokpost.com/thailand/general/2455120/thousands-of-illegal-cryptocurrency-mining-units-seized) from 41 commercial buildings and apartments in Bangkok connected directly to power lines. They unlawfully drained more than $14 million worth of electricity.

Big tech firms like Amazon, Microsoft, and Google have always been on high alert about[ cryptojacking,](https://www.kaspersky.com/resource-center/definitions/what-is-cryptojacking) a different kind of illegitimate crypto mining where hackers hijack a computer's resources without the owners' knowledge to mine cryptocurrencies. Privacy coin [Monero](/news/article/how-to-buy-monero) (XMR), which is famous with Dark Web users, is the most popular coin mined this way.

Illegal Crypto Mining Syndicate Busted

While a streamlined and cohesive payment system is everyone’s dream, transferring money between nations or accounts on different ledgers or networks is easier said than done. At a time when digitalization is taking over the world, most available services are mainly manual, sluggish, and costly. The solution is a service that guarantees the sender and recipient that the intermediary will perform its function correctly. That’s where Ripple’s [interledger protocol](https://interledger.org/rfcs/0027-interledger-protocol-4/)(ILP), a secure transfer service that helps route payments across digital asset ledgers, comes in. 

## What is the interledger protocol?

Interledger refers to a suite of protocols designed by San Francisco-based [Ripple Labs](https://ripple.com/), the cryptocurrency startup associated with the popular [Ripple](/news/article/market-ripple) (XRP) token. It uses the system to facilitate a seamless transfer of money from one payment system to another. The tool supports a worldwide web of networks for different forms of value, but specifically connects bank systems across borders, primarily where banks use XRP to settle cross-border payments. The system links senders and receivers to expedite money transfers via secure multi-hop payment and intelligent routing.

## How it works

The interledger protocol, currently in its fourth development stage (ILPv4), refers to an entire stack of protocols containing three packet types: Prepare, Fulfill, and Reject. The protocol functions by routing the packets through the interledger network and transmitting encrypted payment information from a sender to a receiver.

Since ILP is a set of rules that define how nodes send value over the network, the packets carry private transaction information to the participating nodes.

The rules are divided into four categories: payment setup, payment, interledger, and settlement/ledger. The person initiating a transaction constructs and sends a Prepare packet to request a connection to the router. The router receives and forwards the packet to the receiver, who can accept or reject it by sending a Fulfill or Reject packet as their response. 

Once the packet is successfully delivered to the recipient, the sender receives a Fulfill packet and sends all remaining Prepare packets until they transfer the total amount. According to the [whitepaper](https://interledger.org/uploads/interledger.pdf), connectors can amend all fields apart from the encrypted data field that contains payment between the sender and the receiver. 

The ultimate goal of this tech is to enable hosts to route money transfers over different interconnected ledgers, allowing payments to pass from one ledger module to another until they reach the intended recipient. The participating modules belong to hosts and connectors within the system who constantly communicate. The protocol leverages assets within the underlying ledgers to safeguard senders and receivers from failed transfers, especially when routing large payments through a system with a trust deficit between connectors and intermediary ledgers.

## How the system is executed  

The interledger protocol is designed to be executed in two different modes: atomic mode and universal mode. 

Atomic mode: Transactions executed in this mode use notaries, referring to a provisional group of individuals that authenticate and confirm transactions occurring between banks or participating financial service companies that might be linked.  

Universal mode: Transactions executed in the universal mode don't require notaries and can be used between untrusted connectors. The transfers are facilitated using XRP, Ripple's native cryptocurrency. Since time constraints accompany such transfers, transactions that don't occur within the specified timeframe become null and void.  

## Benefits of ILP 

The following are some reasons you may choose the interledger protocol:

•	Easy to use over different networks.

•	Faster than traditional methods.

•	Lower prices when compared to the competition.

•	Trustworthy transactions that can be tracked easily.

•	Large transfers split into smaller packets to increase efficiency, security, and interoperability.

## The Bottom Line 

The ILP has wholly transformed the utility of the Ripple network. Any entity using XRP can benefit significantly from this protocol due to its infinite scalability and high-level transaction secrecy. All these are additional benefits to the advantages some banks already enjoy from Ripple’s [blockchain financial technology](/news/article/crypto-impact).


city landscape in green with interledger logo 

Interledger Protocol: What You Need to Know 

Ethereum developers have finally made one of its [biggest announcements](https://twitter.com/terencechain/status/1630426604802555953) after its September 2022 Merge, a second Ethereum testnet, dubbed the Shapella Sepolia upgrade, that successfully simulated withdrawals of staked Ether (ETH).

The upgrade activated at epoch 56832 on 28 February, at 4:04 UTC and finalized at 4:17 UTC, brings the Ethereum blockchain closer to the envisaged Shanghai upgrade.

The [Shanghai upgrade](/news/article/ethereum-shanghai-upgrade), the network's first major development after '[The Merge](/news/article/ethereum-merge-date),' is Ethereum's final rite of passage toward becoming a fully functional Proof-of-stake (PoS) network. 

Scheduled for March 2023, this upgrade will enable validators and stakers to withdraw the rewards they earn from adding blocks or approving transactions to the Ethereum blockchain from the [Beacon Chain](https://ethereum.org/en/upgrades/beacon-chain/). 

## One more Ethereum testnet scheduled

The ‘Ethereum Improvement Proposal’ (EIP-4895) explains the finer details of the process that will be involved to allow validators to withdraw ETH tokens staked as far back as the December 2020 launch of the Beacon Chain. Moreover, besides [EIP-4895](https://eips.ethereum.org/EIPS/eip-4895), the Shanghai fork has a [few other EIPs](https://github.com/ethereum/execution-specs/blob/master/network-upgrades/mainnet-upgrades/shanghai.md) that aim to reduce gas charges for Ethereum developers. 

According to the announcement, the developers have one more Ethereum testnet scheduled, Goerli, before the highly anticipated upgrade goes live. The Shapella Sepolia test was designed to simulate the type of withdrawals on the Ethereum blockchain Mainnet. 

Sepolia, the second and smallest Ethereum testnet among all the three planned due to the number of validators who participated, makes it the least important. That's because, unlike the Zhejiang testnet, undertaken earlier in February, it was reserved for only the Ethereum core developers. Goerli, expected in the coming weeks, would be the final tryout before the blockchain's Mainnet can successfully process staked ETH withdrawals.

## A bullish or bearish impact on the market?

Goerli is the most anticipated Ethereum testnet, seeing that it will be the biggest of the three and will most closely impersonate the blockchain's activity. Projected to occur around 21 March, this will likely push the Mainnet Shanghai Upgrade into sometime in April.

Once the Upgrade goes live, approximately [16 million staked ETH](https://beaconcha.in/) tokens will be available for withdrawal. With the withdrawal of staked ETH successfully simulated on the Zhejiang and Shapella Sepolia testnet and Goerli in the coming weeks, there’s high anticipation that as a new era of unlocked ETH begins, the Shanghai upgrade could trigger a selling wave and have a bullish or bearish impact on the market.


Second Ethereum Testnet Successful 

Gate Group, the parent company of renowned crypto exchange Gate.io, has reportedly applied for a new cryptocurrency license in Hong Kong. The crypto license will enable the group to launch its presence in the city through "Gate HK", a new platform dedicated to [Hong](/news/article/wow-summit-hong-kong-flagship-event) burgeoning crypto market.

Gate.io joins a growing waiting list of prominent cryptocurrency exchanges that have applied for crypto trading licenses in Hong Kong. The list includes market leaders like Huobi Global, OKX, and Bitget. 

## Gate.io joins a growing waiting list

The [announcement](https://www.prnewswire.com/news-releases/gate-group-confirmed-applying-for-new-crypto-license-in-hong-kong-301753044.html) is hot on the heels of a statement that the local government was injecting at least $6.4 million into the city's Web3 ecosystem under the 2023-2024 budget.

The government will use the [Web3](/news/article/web3-games-raised-millions) budget to organize seminars, arrange workshops to educate the public, and encourage business cooperation. In his budget speech, the city's financial secretary, Paul Chan, confirmed the Web3-related funding and creation of a crypto task force.

According to Chan, several companies were considering opening shop across the city owing to the friendly crypto regulation. He reiterated the importance of keeping up with the times and seizing the opportunity to spearhead innovation development.

[Dr. Han Lin](https://twitter.com/han_gate/status/1627865433880825857), the founder of the Gate Group, is on record referring to Hong Kong as a digital asset hub and global strategic market because of its crypto industry-leading regulatory regime.

Hong Kong’s Securities and Futures Commission (SFC) [announced on 20 February](https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=23PR5) that it was already collecting public opinions on plans to regulate the crypto industry effective from June this year. Chan stated that the task force he will lead would comprise market participants and financial regulators, who will offer recommendations on the sustainable and responsible development of the crypto sector.

## Access to an extensive library of cryptocurrencies

Founded in 2013 and headquartered in the Cayman Islands, Gate.io is a leading cryptocurrency exchange giving users access to a comprehensive library of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and many others. The platform also offers numerous [trading options](/news/article/simple-cryptocurrency-trading), including futures, margin, and spot trading. 

Users relish the exchange’s intuitive, user-friendly interface that presents an array of tools that helps them analyze market trends to make educated trading decisions. Gate.io boasts robust security measures, including cold storage for user funds, two-factor authentication, and 24/7 customer support.

As more players line up to enter Hong Kong’s crypto space because of the government’s intervention, it is hoped the move will open the space further, create more jobs, and improve the economy.


hong kong skyline in blue with gate.io logo

Gate.io to make Hong Kong Web3 Debut

An Australian software engineer named Anthony Guerrera, going by the name [ynohthna92](https://github.com/ynohtna92) on GitHub, has successfully created a fork for the Bitcoin Ordinals protocol to support the Litecoin network. Consequently, ynohtna92 minted the debut Litecoin Ordinal, a first for one of the oldest cryptocurrencies in the world.

According to an 18 February r[epository posting](https://github.com/ynohtna92/ord-litecoin) on GitHub, the new Ordinals protocol on Litecoin now allows for non-fungible token-like digital assets to be introduced to the Litecoin network, similar to the Bitcoin network a few weeks ago.

## The first-ever Litecoin Ordinal

To get the development in line with Litecoin’s latest MWEB upgrade, the coder [inscribed](https://twitter.com/anthonyonchain/status/1627408947203411969) the Mimble Wimble white paper, known as inscription 0, onto the first Litecoin Ordinal. The Mimble Wimble upgrade on the Litecoin blockchain was launched in May 2022 to improve the network’s privacy and transaction size.

Launched on Bitcoin a few weeks ago, it has created a storm in the crypto sphere. According to [Dune Analytics](https://dune.com/dataalways/ordinals), its ability to mint content besides transactions has already made more than 154,000 inscriptions. The feat took the developer only one week and was incentivized by a "small monetary bounty".

Launched in 2011 as a fork of Bitcoin (BTC), [Litecoin](/news/article/litecoin-news) (LTC) is a peer-to-peer digital asset specifically designed to overcome some of BTC's initial challenges, especially the speed of processing transactions. LTC was the brainchild of former Google employee Charlie Lee, who sold it in 2017 to circumvent potential conflicts of interest. The race to bring in this new fork began on 10 February after an anonymous Twitter user, Indigo Nakamoto, [threw a challenge](https://twitter.com/indigo_nakamoto/status/1624247793438322689) to any coder who could port Ordinals to Litecoin for 5LTC – approximately $500.   

## Dedicated to the MWEB upgrade

Exactly one week later, Guerrera completed forking the GitHub repository and launched it. According to Guerrera, Ordinals could only work on the LTC network because of its soft forks of the SegWit and Taproot technologies associated with Bitcoin, which are required to make Ordinals work.

Guerrera, who calls himself a fan of technology who loves to see privacy introduced in public ledgers, dedicated the first inscription to the Mimble Wimble Extension Blocks (MWEB) upgrade. He added he'd hand it over as he's "got other things on his plate". However, he would keep contributing to the new fork and port all updates from the initial Ordinals.

At the time of writing, [Litecoin](/news/article/litecoin-predictions) is the 14th largest cryptocurrency by market capitalization, at $6,955,377,781 on [CoinMarketCap](https://coinmarketcap.com/currencies/litecoin/), and trading at $96.19.


Forked Bitcoin Ordinals Brought to Litecoin 

Considering that cryptocurrency investments offer a high potential for good returns, investors are always on the lookout for the next rising star. The unique features of Catecoin (CATE), a cat-themed coin, have made it a potential candidate that's recently attracted much attention due to its growth potential.

## What is Catecoin?  

Created on the Binance Smart Chain, Catecoin (CATE) is a decentralized meme-based utility token with unique features making it a serious competitor to rival meme-based coins like [Dogecoin](/news/article/is-doge-going-up) (DOGE) and [Shiba Inu](/news/article/shiba-inu-coin-burn) (SHIB).

According to its creators, CATE is a token for meme creators, launched to enable them to "create and earn with their memes" on a decentralized platform. By serving users' entertainment needs, CATE is becoming a popular way for cryptocurrency enthusiasts to earn money from playing online games or creating memes.    

## Why invest in Catecoin?

The cat-themed utility coin surprised many investors as the 2022 crypto bear market negatively affected more than 50% of leading crypto names and altcoins with its performance. This saw an influx of institutional investors catapulted by early gains from Dogecoin, Shiba Inu, and other animal-themed tokens. 

Reasons that CATE made an ideal choice for investors include: 
Passive income potential: CATE holders can earn up to 15% ROI when they [stake](/news/article/crypto-lending) the token for at least 31 days, which is higher than other meme coins. You also earn 2% on all transactions made through the Catecoin wallet, making it attractive to individual and institutional investors seeking a passive income stream.      

A Dynamic roadmap: Unlike other meme coins that are merely copycats of other successful projects, the token seems focused on a long-term roadmap that includes diverse projects, including the “Rise of Cats” (a [play-to-earn NFT game](/news/article/play-to-earn) where players earn CATE tokens), a dedicated crypto wallet, and a staking program. 

High-profile branding: The project reportedly injected a whopping $300,000 into buying and branding the Catecoin.com website aiming to develop a high-profile brand name and quickly become the most significant meme coin in the crypto sphere.  

Exceptional cat-themed targeting: Most meme coins that attempted to imitate the surprise success of Dogecoin only ended up preying on their investors. However, as the world’s first cat-themed meme coin, the CATE token is already showing the potential to become a unique token in the next crypto bull run. 

## How and where to buy Catecoin 

CATE became tradable on 9 May, 2021, with an initial total supply of 100,000,000,000,000 tokens. According to [CoinMarketCap](https://coinmarketcap.com/currencies/catecoin/markets/), its market capitalization is $968,306,695,447, while the current price is $0.000000516 at the time of writing.

The token is listed in numerous crypto exchanges, and you need some Bitcoin (BTC), Ether (ETH), or Tether (USDT).

The easiest way to buy Catecoin is by using funds from your bank through a simple two-step process. Buy some crypto – BTC, ETH, or USDT – from a cryptocurrency exchange accepting deposits via a bank account or a credit/debit card.

Once you receive your newly bought crypto, transfer it to a marketplace that sells CATE for BTC, ETH, or USDT.

STEP #1: Sign up and buy BTC, ETH, or USDT from your preferred crypto exchange     
 
STEP #2: Transfer the BTC, ETH, or USDT you just bought from your cryptocurrency wallet to [an exchange](https://www.coingecko.com/en/coins/catecoin) that sells CATE. 

## Is it an excellent token to hold and trade?

With its enhanced usability offering users the potential to earn passive income, enjoy blockchain gaming, and become an NFT creator, CATE has cut a niche for itself as a token offering a riot of attractive incentives. A token that employs the deflationary tokenomics model, meaning its supply is capped at 100 trillion, can only increase in value over time.

For potential investors, Catecoin has become the most formidable competitor yet [for billionaire Elon Musk’s favorite](/news/article/doge-crypto-elon-musk), Dogecoin, and is already showing a high-growth potential which only adds to its legitimacy adding curiosity about its future offerings.


Catecoin: All About $CATE Token 

Global entertainment Titan Sony, through its affiliate Sony Network Communications, has launched a Web3 incubation program in partnership with blockchain innovation hub [Astar Network](https://astar.network/).

The partnership aims to advance relevant technologies by helping upcoming startups gain initial traction. 

According to an official [press release](https://astar.network/incubation/) by the multi-chain smart contract platform, the incubation program is meant to support [Web3 initiatives](/news/article/what-is-web-3.0-crypto). It will mainly focus on highlighting the practical applications of non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs). Singapore-based Startale Labs, the brainchild of Astar Network CEO and founder Sota Watanabe, organizes the program. 

## Astar Network ongoing partnerships

The Astar Network CEO stated that [applications for the program](https://astar.network/incubation), which will run for three months beginning mid-March, open on 17 February and close on 6 March. Watanabe explained that the successful participants would be placed in 10 to 15 cohorts. The facilitators will include experts from global VC firms like Dragonfly, Fenbushi Capital, and Alchemy Venture. Moreover, the successful candidates will also access additional business strategy and tech support based on Astar's development, past consulting, and business expertise.

In tandem with its ongoing partnership with firms interested in exploring Web3 technology use cases, the incubation program aims to enable startups to convert their viable ideas into visible products irrespective of the Web3 startup phase. Using the firm’s robust ecosystem, the program will prioritize candidates engaged in [DeFi](/news/article/what-is-a-defi-token), Web3 gaming and metaverse, and infrastructure.

## Recent partnerships

Startale Labs develops DApps and infrastructure and acts as the gateway for enterprises interested in partnering with Astar Network by offering consulting services leveraging knowledge in multi-chain protocol development.

The Japanese tech giant Sony ventured into the burgeoning NGT gaming field alongside embracing Web3 technology in the recent past. The firm that is popular for its PlayStation gaming consoles launched a motion-tracking wearable Metaverse gadget in November 2022. The firm has already set up a regional office in Singapore to run development and consulting services for NFT-related products.   

Besides partnering with Sony, Astra also recently on-boarded Japan’s leading car manufacturer Toyota as it began to explore how it could introduce the Web3 experience into its operations. Apart from becoming among the first parachains to embrace the Polkadot ecosystem, the firm has also on-boarded Japan’s NTT Docomo to facilitate mass adoption of Web3 and its social implementation.


sony and astar logos on blue image of blockchain

Astar Network and Sony Launch Web3 Partnership 

South Korea’s Financial Services Commission (FSC) has published a new set of guidelines requiring security firms and crypto industry players to self-regulate. Per the [new guidelines](https://www.fsc.go.kr/no010101/79386?srchCtgry=&curPage=&srchKey=&srchText=&srchBeginDt=&srchEndDt=) published Monday, February 13, 2022, the FSC seeks to bring the country's position on security tokens in line with other Asian nations.

## Freedom to self-regulate could boost asset innovation

According to Angela Ang, a former regulator at the Monetary Authority of Singapore and now a senior policy adviser at TRM Labs, a blockchain intelligence firm, South Korea was trying to align its definition of securities with countries like Hong Kong and Singapore. Coming at a time when traditional securities firms had allegedly developed cold feet about entering the market, Ang opines that the freedom to self-regulate could boost asset innovation in the country’s capital markets. 

Mooni Kim, an attorney working with local law firm Kim & Chang, commented that the fundamental standpoint of the new security law on tokens resembled the US version, but what remained now was how it would be applied.

Even before the ink dries, the announcement by FSC seems to have elicited mixed reactions in the country's crypto space. 

Industry players like [Shinhan Investment and Securities](https://open.shinhansec.com/new_eng/) have sounded a clarion call inviting interested parties to set up industry standards and educate investors on the potential benefits of token securities. 

## Debating 17 crypto-related laws

However, on the flip side, a crypto exchange executive who spoke on condition of anonymity because of his relationship with regulators expressed doubts about how the new development would boost the crypto industry. According to the official, it would have been prudent for FSC to begin by clearly defining the types of assets that qualify to be called securities instead before asking firms to self-regulate. 

South Korea is an integral player in the cryptocurrency industry, and the country’s national assembly is debating at least 17 crypto-related laws. The [proposed laws](https://www.koreatimes.co.kr/www/nation/2022/12/602_340645.html) range from guidelines on implementing reserve requirements at crypto exchanges to fair trade practices to create safeguards to [protect local crypto investors](/news/article/south-korea-crypto).           

[Regulators worldwide](/news/article/crypto-regulations) are burning the midnight oil to put in place frameworks to protect thirsty crypto investors, especially following a string of bankrupted crypto exchanges. The debate will culminate in a comprehensive [legal framework](https://www.news1.kr/articles/?4756185) called the Digital Asset Basic Act (DABA) that aims to introduce regulatory guidelines for the budding crypto industry. However, there is little chance that a piecemeal country-by-country approach will become effective without global coordination.


yellow image of regulation document and korean flag

Crypto Firms Can Self-Regulate in South Korea

PayPal has revealed it held massive crypto holdings for its customers totalling $604 million as of December 31, 2022. According to an [annual report](https://d18rn0p25nwr6d.cloudfront.net/CIK-0001633917/b562e712-8266-493c-8ae8-e28f93404d2f.pdf), the global payment giant filed with the US Securities and Exchange Commission (SEC), Bitcoin (BTC) and Ether (ETH) comprised more than 60% of PayPal crypto reserves.

The $604 million worth of crypto holdings the firm held at the end of 2022 is slightly lower than the [$690 million](https://d18rn0p25nwr6d.cloudfront.net/CIK-0001633917/bef30744-49c8-4913-a5d8-a2cf9bfaa429.pdf) held as of September 2022. The significant drop could have resulted from unstable crypto prices and dwindling user trust associated with the [devastating collapse](/news/article/ftx-exchange-under-investigation) of the FTX cryptocurrency exchange. 

## PayPal crypto reserves are 67% of its financial liabilities

The $604M worth of crypto comprised $291 million in Bitcoin (BTC) and $250 million in ether (ETH), with Litecoin (LTC) and Bitcoin Cash (BCH) making up the balance of $63 million. Per the report, PayPal crypto reserves account for 67% of its $902 million total financial liabilities. The filing further indicated that PayPal’s total financial assets were $25 billion.  
    
The global payment giant introduced a crypto buy and sell service for its US-based customers involving only specific cryptocurrencies in October 2020. Nonetheless, following the SEC's requirement via Staff Accounting Bulletin No. 121 ([SAB 121](https://www.sec.gov/oca/staff-accounting-bulletin-121)) in March last year, [PayPal](/news/article/paypal-news-transfer-crypto) only recently started disclosing specific holdings of different cryptocurrencies in its SEC filings. While the company's crypto service has existed since 2020, it was only in June 2021 that the firm allowed users to withdraw crypto from the platform.

## Used a third-party custodian

While acknowledging the specific technological, legal, and regulatory risks associated with dealing in cryptocurrencies, the fact that a PayPal crypto asset safeguarding liability reflected its obligation to protect its customers’ assets wasn’t lost to the company.

The company, therefore, revealed in the filing that it used a third-party custodian to store the customers' digital assets. Nonetheless, PayPal reiterated that it contractually required the custodian to segregate its customer assets to prevent such assets from being considered a part of the custodian's estate should bankruptcy or insolvency occur.       
 
PayPal Vice President Richard Nash indicated recently that the company was taking measures to reduce operational costs due to the ongoing market rout. The company was recently said to have reduced its workforce by at least 2,000 people to "strengthen" and "reshape" due to a "challenging macro-economic environment".

As a way of integrating blockchain and PayPal cryptocurrency services into the platform, the firm introduced a hold-and-sold Bitcoin service for its US-based customers in November 2020. The offerings would also include [central bank digital currencies ](/news/article/cbdc-bank-of-england)(CBDC).


PayPal crypto reserves reach $604 million

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Is Lunar Crypto Price Ripe for Recovery?

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Digibet Token Price: What's Happening? 

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Tom Nyarunda

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