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Top 3 Memes and DeFi Tokens Whales are Bullish on for Q4 Rally

By
TI Partners
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0

The meme and DeFi niches are arguably the biggest and hottest sectors in the crypto landscape. This makes them favorite destinations among investors, with whales taking a keen interest in Dogecoin (DOGE), Pepe (PEPE) and DTX Exchange (DTX) ahead of the anticipated Q4 rally.

These altcoins aren’t only budget-friendly but also teeming with potential, especially DTX, a new altcoin at the intersection of TradFi and DeFi. Boasting real-world applications, it will power a hybrid trading platform that features the best elements of DEX and CEX. Its staggering upside potential is another of its biggest attractions.

DTX Exchange (DTX): On the Cusp of Adoption and Massive Growth

DTX Exchange (DTX) has been hailed as Q4’s best presale for several reasons. Starting from its novelty, it aims to reshape the $10 billion global trading market by combining the best elements of centralized and decentralized exchanges. This makes it a hybrid exchange protocol and another of its attractions is its huge growth prospects.

The presale is already selling out fast, with over $6.6 million raised in early funding. Meanwhile, a token costs only $0.08 in the fourth ICO round, gearing up for a jump above $1 before the curtain closes on the year. It isn’t surprising that whales have been stockpiling it alongside Dogecoin (DOGE) and Pepe (PEPE).

Making a strong claim about being one of the best new cryptos to invest in, it further stands out thanks to its solid fundamentals. Its trading platform will be a one-stop destination for trading assets across stocks, forex, ETFs, bonds and cryptocurrencies with up to 1,000x leverage. The intuitive user experience of CEX, wallet-based trading and non-custodial storage solutions will be enjoyed by traders.

Dogecoin (DOGE): Aims for $1

Dogecoin (DOGE) is one of the top altcoins and also the leading meme. Its launch in 2013 ushered in the meme narrative. Since making its debut, it has become an industry leader and more than just a meme—a good store of value.

A decade later, investors are positioning themselves for the 2024 Q4 rally by stacking up Dogecoin (DOGE). The dog-themed cryptocurrency hasn’t lost its appeal, especially being the first memecoin. In the past 30 days, the Dogecoin price exploded over 50% and 35% on the monthly chart, trading above $0.14.

The coming weeks promise even more gains. Amid rising whale interest, a Dogecoin price prediction suggests a jump above $1 before the year’s end. The unfolding uptick might be the start of this run, making it one of the best coins to invest in. Moreover, the simple moving average (20) is at 0.14724, a bullish signal.

Pepe (PEPE): The Leading Frog-Themed Memecoin

The red-hot Pepe (PEPE) is another memecoin investors have been stockpiling. Its unique memetic appeal as a frog-themed cryptocurrency is one of its many attractions, alongside deflationary tokenomics and a rapidly growing community.

While its performance in the past few weeks hasn’t been particularly exciting, it provides a good entry. The Pepe price tumbled over 10% on the monthly chart but still trades on the upside in the past 90 days—a 5% uptick. Currently in an attractive buy zone, whales have been gobbling up the Pepe (PEPE) dip.

Moreover, according to TradingView data, the commodity channel index (20) is ?143.32856866, signaling “buy” and further upsides. With the rest of quarter four promising exciting rides and bullish waves, Pepe is one of the altcoins to watch out for. It is on track for another price discovery this year, making it a horse worth betting on.

Conclusion

The top three memes and DeFi token whales that have been stacking up ahead of the Q4 rally are Dogecoin (DOGE), Pepe (PEPE) and DTX Exchange (DTX). They stand out not only for their growth potential but also for their budget-friendly prices, especially the low-cap gem DTX.

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Meta Threads Reaches 275 million Monthly Active Users

By
Samuel Nwite
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0

Meta’s social media app Threads has achieved a remarkable milestone, amassing 275 million monthly active users (MAUs), Meta executive Adam Mosseri announced on Sunday.

Mosseri, who heads Threads and Instagram, celebrated the news, acknowledging both the platform’s growth and its development needs: “Yesterday we crossed 275M monthly active users on @Threads. A big thank you to everyone who’s helped us get this far. There’s a lot more to do, and plenty of things to fix, but there’s something exciting about this place,” he said.

Threads initially launched in July 2023 as Meta’s strategic answer to the widespread user dissatisfaction with X (formerly Twitter) following Elon Musk’s acquisition of the platform. Meta seized the moment, rolling out Threads as a fresh, text-based social platform aimed at capitalizing on the discontent among X users and the broader social media community.

Within a few days of its launch, Threads gained 100 million users, a feat that made it the fastest-growing social network in history at that time, creating massive anticipation that it would soon rival X directly. However, despite this initial surge, Threads has struggled to retain that momentum, and user activity levels have not yet consistently matched the expectation of becoming a full-fledged X alternative.

The app’s early success came as a wave of disillusioned X users sought an alternative. Elon Musk’s approach to management—layoffs, controversial policy changes, and a relaxation of content moderation—led to an exodus of both everyday users and some high-profile figures. Sensing a unique opportunity, Meta CEO Mark Zuckerberg fast-tracked the development of Threads as a streamlined, text-first platform aimed at providing a friendlier, more stable environment for users seeking a Twitter-like experience.

Zuckerberg hoped that by integrating Threads with Instagram’s user base, the app would have an automatic edge in building a loyal community. Meta made it easy for Instagram users to join Threads by leveraging their Instagram profiles, which helped boost Threads’ initial adoption rate.

Despite the initial rush and a user base now standing at 275 million MAUs, Threads has faced challenges in its quest to establish itself as a true alternative to X. Zuckerberg confirmed during Meta’s Q3 2024 earnings call that approximately one million new users are signing up daily. While this growth appears steady, it has not been sufficient to retain engagement levels at the platform’s launch pace.

In August, Threads had achieved the milestone of 200 million MAUs, meaning it gained another 75 million users in three months. However, this pace, while significant, reveals the challenge of achieving long-term retention and engagement that could draw a critical mass away from X.

Experts suggest that Threads’ struggle to attract long-term users from X may stem from several factors. Unlike X, which offers users a robust set of features like trending topics, direct messaging, and customizable news feeds, Threads is still in its feature-building stage, limiting its appeal to users accustomed to X’s functionality. Although Meta has promised improvements, the platform’s limited feature set and minimal customization options may be causing hesitation among users who are seeking a full-fledged social media experience.

Adding to the challenge, content moderation has become a recurring issue on Threads. Despite Meta’s efforts to position the platform as a friendlier, safer alternative to X, users have raised concerns over content moderation inconsistencies. Mosseri acknowledged this, stating that “there’s a lot more to do, and plenty of things to fix,” underlining that Meta recognizes the need to address both moderation and platform stability.

While Zuckerberg’s goal of creating a viable X alternative has proven more challenging than anticipated, Threads’ gradual upward trend indicates it still holds potential. For now, however, the platform remains on a growth journey, still working to prove it can ultimately capture—and keep—the loyalty of users who once considered X indispensable.

Bluesky, Mastodon Gear Up As Alternatives to X As US Election Begins

By
Samuel Nwite
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0
The Bluesky social media app logo is seen on a mobile device in this photo illustration in Warsaw, Poland on 21 April, 2023. Founder Jack Dorsey of twitter has released the Bluesky application on Android. (Photo by Jaap Arriens / Sipa USA)(Sipa via AP Images)

As the U.S. presidential election draws closer, Bluesky, a social networking startup backed by recent investments, is readying itself to position as a fact-checked, trusted alternative to Elon Musk’s X (formerly Twitter).

With mounting frustration among X users over Musk’s changes to the platform, Bluesky, along with its peers Meta’s Threads and Mastodon, is hoping to capitalize on a possible user shift. Musk’s platform, recently dominated by his visible support for the Trump campaign and alterations that relaxed content moderation, has alienated some users, and Bluesky’s leadership believes it could be the moment to attract them.

For Bluesky, the upcoming election season is seen as a defining test for its ability to manage misinformation and foster a safer, reliable online environment—one that includes a blend of traditional moderation and new approaches to social networking.

The platform, which emerged from the controversy surrounding Musk’s 2023 acquisition of Twitter, has quickly developed a user base that leans left due to a sizable influx of former Twitter users uncomfortable with Musk’s approach to political content and looser moderation. With Threads opting to distance itself from political conversations altogether by ceasing to recommend any political content, Bluesky has embraced an environment for more engaged, real-time election discussions.

This strategic choice has helped set Bluesky apart as an option for users looking for political discourse moderated with election integrity in mind. As X recently abolished its block function, another Musk move that has generated frustration among users, Bluesky, and its competitors are poised to potentially gain new members from those reconsidering their social media choices.

In a critical move earlier this year, Bluesky appointed Aaron Rodericks, a former senior leader in Twitter’s election integrity team, as its head of Trust and Safety. With experience managing election safety policies at Twitter, Rodericks brings knowledge of the tools, policies, and monitoring strategies essential to moderating election-related content.

Rodericks became a notable figure in the debate over election safety at Twitter when, during Musk’s overhaul, he faced backlash from right-wing groups for openly seeking more staff for election oversight. Following the backlash and Musk’s decision to cut Twitter’s election integrity team, Roderick found a home at Bluesky, where he has been tasked with building a team to help secure Bluesky’s environment during the election period.

Consequently, Bluesky’s Trust and Safety team, led by Roderick, recently unveiled its robust election safety plan in a series of posts on the platform. These plans detail procedures for users to report potential misinformation or disruptive election-related content. Content deemed to include misleading claims around voting processes, requirements for voter ID, or other critical election facts will be flagged for review, with an escalation process for urgent reports.

Additionally, Bluesky’s moderation team plans to implement “unconfirmed” labels on emerging election-related reports that can’t immediately be verified, such as claims about polling place conditions or incidents. Bluesky has also stated it will remove any posts that seem to promote or encourage disruption of voting processes, ensuring a higher level of security for users during this volatile period.

The platform’s decentralized framework is one of its most distinct features compared to other social media platforms. Users are able to join multiple moderation servers, each governed by its own rules, allowing individuals to tailor their feeds and interactions to their preferences. This flexibility in content control aligns with Bluesky’s message that it provides an alternative to “billionaire-driven” content moderation, which some users feel has taken over X.

Bluesky’s leadership has emphasized that anyone who disagrees with how Bluesky’s primary server is run can create their own or subscribe to a different moderation service. CEO Jay Graber highlighted the advantage of this model in a podcast interview, explaining that Bluesky’s structure encourages a participatory approach, empowering users to shape their social media experience beyond what is possible on centralized platforms like X.

In tandem with its moderation strategy, it has expanded its team to prepare for the anticipated increase in election-related traffic. While the company hasn’t disclosed exact figures, Graber has indicated that Bluesky’s staff now includes about 18 members dedicated to engineering, operations, and content moderation—a scale-up necessary to ensure timely and effective management of the surge in activity as election day nears.

Bluesky’s competitors in the alternative social media space are also preparing to position themselves as trusted alternatives to X, which has been the subject of increased criticism over its loosened moderation and political tilt under Musk’s leadership.

Meta’s Threads has taken a different approach by actively avoiding political discussions on its platform. Earlier this year, Threads announced it would no longer recommend political content to users, a decision likely aimed at minimizing divisive discourse. By sidestepping political content, Threads hopes to build a less contentious space, though this decision has also resulted in limited engagement from users seeking real-time updates on election-related news and topics.

Meanwhile, Mastodon, another open-source and decentralized alternative to X, has also been rolling out new features to improve its user experience and potentially attract users disillusioned with X. Its recent updates include notification grouping, a tool for organizing engagement alerts in a more streamlined way similar to X’s layout.

Mastodon is also launching new filters for managing notifications from unsolicited private mentions, recently created accounts, and users who are not following or followed by the user. Additionally, Mastodon’s expanded moderation tools allow users to receive notifications if a moderator’s decision affects their account’s visibility or connections across servers. These improvements aim to give users more control and transparency over their experience, which Mastodon hopes will appeal to users frustrated with the one-size-fits-all approach of X’s moderation.

With each of these platforms bringing unique features to the table, the upcoming election season could be the moment when X’s competitors gain traction by offering more nuanced and reliable content moderation solutions. In the past, Musk’s hands-off approach and mass layoffs of moderation staff have led to concerns about X’s capability to handle sensitive election information responsibly. Many observers see the choices Musk has made, from altering verification processes to eliminating the block feature, as pivotal to the general disillusionment driving users toward alternatives like Bluesky, Threads, and Mastodon.

October 2024 Funding Round: African Startups Secured Over $250 Million in Funding, Led by Moniepoint

By
Ojukwu Emmanuel
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0
Fund, money cash dollar

According to a report by Africa: The Big Deal, October proved to be a record-breaking month for African start-ups, with 42 ventures securing a total of $254 million in equity, debt, and grant deals over $100,000 (excluding exits).

This impressive funding month marked the second-highest amount raised this year, following July, and was nearly 50% above the average for the past 12 months. The report highlights that this month’s funding stands out as the strongest October since 2019.

A major highlight of the funding round across the African continent, which was a landmark achievement for the African fintech sector, was Nigerian fintech Moniepoint’s $110 million Series C round led by African Development Partners (ADP) III fund, a premier fund focused on Africa. This round accounted for 43% of the month’s total funding and drew considerable attention as the continent potentially welcomed its 8th unicorn.

The fintech giant’s rise to unicorn status is not just a testament to its robust business model but also reflects the growing investor confidence in Africa’s fintech ecosystem. Despite a regional slowdown in tech funding, Moniepoint’s success story underscores the potential and resilience of African startups.

Notably, other significant rounds last month, included BasiGo’s $42 million Series A funds raising, to support the deployment of e-buses in Kenya and Rwanda, and cryptocurrency exchange Yellow Card’s $33 million Series C investment led by Blockchain capital to drive expansion.

Overall, 60% of October’s funding went to Nigerian start-ups, with the fintech sector leading the charge by also capturing 60% of total funds. However, the funding landscape highlighted a notable gender gap, with 98% of investments going to ventures with male CEOs and 97% to start-ups without a female founder.

On the M&A front, OmniRetail, a B2B eCommerce startup in Nigeria, acquired Traction Apps, a Nigerian fintech, for an undisclosed fee. Following the acquisition, the Traction PoS solution will be integrated into OmniPay, a payment solution launched by OmniRetail in 2020. This deal marked the only exit announcement of the month.

Despite October’s standout performance, overall funding in 2024 remains below last year’s pace. African start-ups have so far raised a cumulative $1.7 billion, reflecting a 32% year-over-year decline compared to the same period in 2023. By this time last year, this amount had already been reached by early June.

To date, 393 start-ups have raised at least $100,000 in 2024, with 137 securing rounds over $1 million, representing year-over-year declines of 10% and 20%, respectively.

As the year winds down, all eyes are now on November to see if this funding momentum will continue into the final months of 2024.

Nigeria Shuts Down IPPIS for Federal Tertiary Institutions

By
Samuel Nwite
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0

The Office of the Accountant General of the Federation (OAGF) has confirmed the shutdown of the Integrated Personnel and Payroll Information System (IPPIS) for Federal Tertiary Institutions (FTIs), marking a significant policy reversal that addresses the friction in Nigeria’s higher education payroll management.

The move follows the federal government’s directive to pull FTIs off the IPPIS platform, which has been a longstanding source of tension between the government and the Academic Staff Union of Universities (ASUU).

The recent move to the GIFMIS platform for payroll processing is designed to create a more flexible payroll system that could potentially ease tensions with academic unions. November salaries for FTIs are set to be processed through GIFMIS, with institutions required to submit payroll data in Excel format for verification and validation.

Addressing these changes, Bawa Mokwa, Director of Press and Public Relations at the OAGF, noted, “It was only natural for the IPPIS platform for FTIs to be shut down, given the federal government’s directive to remove these institutions from the system.”

Additionally, amid speculations that financial institutions might require salary account updates, the OAGF clarified that no such directive has been issued.  He noted that any change in salary accounts is a personal decision by the individual worker and that the IPPIS office has not mandated any such changes’ reassuring employees that payroll systems remain stable and that any changes are voluntary.

In urging financial institutions to maintain smooth operations, the OAGF highlighted its confidence in the regulatory agencies overseeing banks to ensure robust management of accounts holding workers’ salaries. Employees seeking to change salary accounts have been advised to follow official channels to avoid payroll disruptions.

The Story Background

The IPPIS system, designed to streamline payroll across federal agencies, initially sparked a heated standoff between ASUU and the administration of former President Muhammadu Buhari.

Introduced under the OAGF in 2007, the IPPIS aimed to centralize payroll, eliminate ghost workers, ensure tax compliance, and cut down on potential fraud. The policy’s objectives were straightforward, but its extension to universities in 2019 led to a significant backlash. The ASUU saw the move as a violation of university autonomy and feared that IPPIS could compromise their institutional independence, especially in personnel management.

However, this concern was met with resistance from the government, which enforced a strict mandate: any university employee not enrolled in IPPIS would not receive a salary.

ASUU’s stance escalated into a full-blown crisis in Nigeria’s tertiary education system. In protest, ASUU embarked on a series of protracted strikes, demanding the removal of universities from IPPIS to protect what they saw as their right to operate independently. Over time, these strikes disrupted academic calendars, forcing many students to delay their studies and, in some cases, pushing entire cohorts behind in their education timelines. For the students caught in the middle, the standoff proved a profound setback, with many left frustrated and anxious over their future prospects.

The federal government’s refusal to back down under Buhari intensified the crisis. ASUU’s demands, which included both salary restructuring and the exclusion of universities from the IPPIS platform, were met with firm resistance. The administration argued that IPPIS was crucial to curbing payroll fraud and enforcing financial accountability across the federal payroll system, insisting that no exceptions could be made.

Today, as the government shifts FTIs away from IPPIS and onto the Government Integrated Financial Management Information System (GIFMIS), many regret the approach of the past administration, seeing it as a costly misstep that severely affected students, who were caught in the crossfire of the power struggle between ASUU and the government. For students, these disruptions were more than just interruptions to learning—they led to extended programs, increased financial burden, and hindered future opportunities.

The public’s sentiment reflects disappointment over the lost time and missed opportunities, especially for students who spent a considerable portion of their academic careers enduring repeated strikes. In retrospect, many education stakeholders, students, and parents now question whether a more flexible stance could have prevented the educational setbacks experienced during that period.

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