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Solana Memecoin Volume Sees Significant Drop, Arbitrum TVL Increases, Rollblock Nears $1,000,000 Raised In Presale

By
TI Partners
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0

Solana meme coins have dominated crypto headlines in 2024. Projects like Bonk and Dogwifhat have taken the market by storm, offering massive returns for early adopters. That said, Solana meme coin volume has decreased. As a result, investors are choosing Arbitrum and Rollblock instead. Arbitrums TVL has seen a steady increase over the last two weeks. Meanwhile, Rollblocking is nearing its $1 million raised milestone.

Crypto Analyst Predicts 50% Solana Surge

In a recent post, crypto analyst Ali made a bold Solana prediction. According to Ali, Solana could see a 53% surge in June. Ali uses Solana’s ascending triangle pattern to support his prediction, as the pattern historically signals incoming bullish activity.

At the time of writing, Solana was bouncing between a support of $143 and a resistance of $178, and SOL was trading at $147.75. Its price had decreased by 14.12% over the last week, and Solana’s daily trading volume was down by 28% over the last 24 hours.

Arbitrum’s Daily Fees Soar by 97%

Arbitrum’s daily fees significantly increased over a 24-hour time span as on-chain transactions increased. On June 11, Arbitrum’s daily transactions increased from 1.7 million to 2.3 million, temporarily causing a 97% increase in fees, though Arbitrum’s fees have since dropped.

Following several increases in its total value locked (TVL) Arbitrums TVL has reached $2.97 billion, making it the second-largest L2 network.

Currently, Abitrum is trading at $0.9482, and has decreased in value by 13.42% over the last week.

Rollblock Hits New Presale Milestone

After a massive uptick in buyers, Rollblock has hit a new milestone of raising over $750,000. The project has already attracted over 3,000 holders whilst also providing a price increase of 40% for those who purchased in stage 1. Now, experts believe RBLK could increase by 720% during the Rollblock presale, which is currently in stage 3.

Rollblock is gaining huge traction due to its unique DeFi application. The project applies blockchain technology to the $450 billion gambling industry. To do this, Rollblock introduces a DeFi casino. Its casino is already live and generating revenue. It offers over 1500 game modes, which include table classics such as blackjack, slots, and new digital games. Players can use over 20 cryptocurrencies to make bets and don’t need to pass KYC checks to get started.

But Rollblock’s casino is just one of its appealing features. The project also offers a revenue share model, which investors can access by holding RBLK tokens. Rollblock will allocate up to 30% of its daily revenue for token rewards, which it will pay out by using revenue to buy RBLK from the open market.

After buying tokens, Rollblock will use half of the RBLK for rewards and burn the remaining half. This will gradually decrease the total supply, thus increasing the scarcity and price of tokens held by investors.

Rollblock will add new features to its platform over the next few months. Next in line is sports betting, which is expected to trigger an influx of new investors and revenue, which means more profit for RBLK token holders.

RBLK tokens are currently available for the low price of $0.014 during stage 3 of the Rollblock presale and can be purchased via Rollblock’s official website.

Can Rollblock Become A Major Altcoin?

Although still a relatively new project, Rollblock is displaying huge potential. Its presale has gained global attention, attracting thousands of investors in just a few weeks. Furthermore, with the gambling market set to grow to $750 billion by 2028, Rollblock is disrupting one of the world’s fastest-growing markets. As a result, RBLK is expected to become extremely profitable.

To learn more, visit the website and their socials.

GTBank Drags Executives of 13 Banks to Court Over N17bn Anchor Borrowers Programme Loan

By
Samuel Nwite
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1

Guaranty Trust Bank (GTBank) has dragged top executives from 13 commercial banks into court. This legal battle, involving a staggering N17 billion loan under the Central Bank of Nigeria’s (CBN) Anchor Borrowers Programme, has brought to the forefront the intricate details stymieing agricultural development in Nigeria.

The Anchor Borrowers Programme, launched by the CBN in late 2015, was designed with noble intentions. It aimed to boost agricultural production by providing farm inputs and cash to smallholder farmers, thereby stabilizing inputs supply to agro-processors and addressing the country’s negative balance of payments on food. By 2022, the programme had reportedly benefitted at least 4.8 million people, with significant investments funneled into boosting rice production and other critical agricultural activities.

However, the programme has been marred by challenges. Loan defaults have been a significant issue, with a 2023 statement from the CBN’s corporate communications department revealing that only 48% of the loan had been repaid. The CBN disclosed that it had released N1.079 trillion under the programme, out of which over N500 billion was due for repayment.

The GTBank Legal Battle

In the current case, GTBank is entangled in a dispute with AFEX Commodity Exchange Limited over a N17 billion loan issued under the Anchor Borrowers Programme. The bank has accused AFEX of failing to repay the loan, despite extensions and multiple attempts at negotiation. According to GTBank, the outstanding loan comprises N15.77 billion in principal and N2.04 billion in recovery costs.

The situation escalated when Justice CJ Aneke of the Federal High Court, Lagos, directed 20 banks to transfer any funds in AFEX’s accounts to GTBank until the full amount was repaid. Additionally, the court granted GTBank the right to take over and sell commodities stored in AFEX’s 16 warehouses across seven states. The order, dated May 27, 2024, was aimed at securing the repayment of the loan.

However, GTBank claims that the executives of these banks, including chairmen, CEOs, directors, and company secretaries, have failed to comply with the court’s No-Debit-Order on AFEX’s accounts. This alleged non-compliance has led to contempt proceedings against 60 top executives, including those from major banks like Access Bank, Citibank, and Zenith Bank.

AFEX’s Defense Citing Economic Headwinds

AFEX, on the other hand, has defended its position by stating that it has repaid approximately 90% of the loan. The company attributed the difficulties in repaying the remaining amount to significant macroeconomic and policy challenges that affected the farmers who received the loans.

“Over 800,000 hectares of farmland were financed through the course of the programme’s operationalisation,” AFEX explained in a statement. “However, significant macro and policy headwinds, including the cash crunch on the back of the Naira redesign policy, severely impacted the productive capacity and market participation of the smallholder farmers in the 2022/2023 season.”

This situation, according to AFEX, led to a drastic reduction in repayment rates from the farmers, dropping to less than 40% from previous rates of 90%. The lingering effects of the cash crunch have continued to impact the farmers, who were forced to sell their produce at below-market value to sustain their families, thereby hindering their ability to repay the loans.

Against this backdrop, AFEX has called on the CBN to activate the collateral guarantee clause included in the Anchor Borrowers Programme, which covers up to 70% of the loan. The exchange has engaged in discussions with both GTBank and the CBN, highlighting the limitations faced by the defaulting farmers and suggesting the activation of the risk-sharing structure put in place for the programme.

“Evidenced in the attached letters, our engagements with Guaranty Trust Bank Limited, a Participating Financial Institution in the program, as well as the apex bank have seen us highlight these limitations on the part of the defaulting farmers with suggestions being made to the CBN to activate the risk-sharing structure put in place for the program and release funds accordingly to sustain activities and allow for needed recovery efforts in our agriculture sector,” AFEX stated.

This legal tussle between GTBank and AFEX, with the involvement of multiple banks’ executives, is not just a matter of compliance by a court; it is a reflection of broader issues within Nigeria’s financial and agricultural sectors.

The Anchor Borrowers Programme was initially seen as a groundbreaking initiative to address food security and enhance agricultural productivity. However, the programme’s challenges, including loan defaults and economic mismanagement, have undermined these goals.

Corruption Is The Root of Underdevelopments in Nigeria

By
Paul Ugbede Godwin
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0

Nigeria, a country with immense potential and resources, has been grappling with the issue of corruption which has significantly hindered its development. The relationship between corruption and underdevelopment is complex and multifaceted, affecting various aspects of society and governance.

Corruption in Nigeria manifests in various forms, including bribery, embezzlement, nepotism, and misappropriation of public funds. These corrupt practices have a direct impact on the country’s socio-economic development. Funds that could be allocated to critical sectors such as education, healthcare, and infrastructure are often diverted, leading to inadequate facilities and services. This, in turn, affects the quality of life and the overall well-being of the populace.

The pervasiveness of corruption in Nigeria has also led to a lack of trust in public institutions. When citizens believe that their leaders and public officials are corrupt, it erodes their confidence in the system and discourages active civic participation. This lack of trust extends to international relations, where corruption can tarnish a country’s image and deter foreign investment, further exacerbating economic challenges.

Addressing corruption is not a simple task; it requires a concerted effort from all sectors of society. The government must lead by example, implementing stringent anti-corruption laws and ensuring their enforcement. Transparency and accountability in public office must be prioritized, and there should be systems in place for citizens to report corrupt practices without fear of retribution.

The socio-economic implications of corruption are profound. It diverts public resources, discourages foreign investment, and erodes the quality of life for citizens. Corruption in Nigeria has manifested in numerous ways, including lack of accountability, diversion of public funds, and a culture of impunity among public officials. These practices have led to inadequate funding of essential services, poor infrastructure, and a general mistrust in governance.

Political consequences are equally significant. Corruption has contributed to the destabilization of democratic processes, weakened institutions, and fostered an environment where meritocracy is overshadowed by patronage and nepotism. This has resulted in a leadership crisis, where those in power often prioritize personal gain over public service.

Culturally, corruption has eroded societal values, promoting a norm where dishonesty and fraud are often rewarded while integrity and transparency are overlooked. This shift in values has profound implications for the character and future of the nation’s youth, who may come to view corrupt practices as a necessary means to success.

Addressing the root causes of corruption requires a multi-pronged approach. Strengthening institutions, enhancing transparency, and promoting accountability are critical steps towards mitigating this issue. Additionally, there is a need for a cultural shift, one that celebrates integrity and condemns corruption in all its forms.

The way forward involves not only policy reforms but also a collective change in mindset. Education and awareness campaigns can play a pivotal role in reshaping public perception and fostering a culture of integrity. Moreover, stringent legal frameworks and the enforcement of laws can deter corrupt practices and hold individuals accountable for their actions.

The battle against corruption is not one that can be won overnight. It demands sustained efforts from all sectors of society. For Nigeria to realize its full potential and embark on a path of true development, corruption must be confronted head-on, with unwavering commitment and resolve. Only then can the nation hope to break the cycle of underdevelopment and pave the way for a prosperous future.

Bitcoin Remains Below $70,000 Despite ETF Inflows, Rollblock (RBLK) and Tron (TRX) Defy Market Drop

By
TI Partners
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0

Bitcoin’s price increased by over 150% in the last year. However, despite ETF inflows and Bitcoin’s halving, BTC is struggling to pass $70,000. Over the past week, it met resistance at $69,000 and has since decreased. This has triggered a market-wide drop, though TRON and Rollblock are defying bearish trends. Both projects have seen price increases, and experts believe that Rollblock could hit a third all-time high in June.

JPMorgan Reports Huge Bitcoin Inflows

A report by JPMorgan shows that the crypto market saw an inflow of $12 billion in the first five months of 2024. According to JPMorgan’s predictions, inflows could go as high as $26 billion by the end of the year. However, JPMorgan stated that the numbers might not be as positive as first thought.

According to an analysis by Nikolaos Panigirtzoglou, a significant amount of inflows came from Bitcoin ETFs, and therefore, these figures could be a redistribution of funds rather than new investments.

Nonetheless, Bitcoin’s popularity continues to soar. At the time of writing, Bitcoin had a daily trading volume of $26.7 billion, and BTC was trading at $66,905. According to crypto analysts, Bitcoin could pass $70k before the end of Q2 and could reach $100k by the end of 2024.

TRON Rallies Amid HackaTRON Success

The TRON DAO recently launched Season 6 of its HackaTON in Geneva, Switzerland. Throughout the event, participants helped to redefine the digital landscape, creating innovative solutions in areas such as Web3, DeFi, artistry, and more.

In total, over 1,100 participants attended the TRON event, each of whom built their own project on the TRON blockchain. The prize pool for this year was $650,000 and included $500,000 in TRON’s utility token, TRX.

Since the event TRONs price has increased by 1.79%, and TRX is now trading at $0.1161.

Rollblock Presale Raises $750,000

Rollblock is defying bearish market trends. Over the last week its third presale round has gained huge momentum, and the new GambleFi protocol passed the milestone of raising $750,000. Analysts are now making bullish predictions for the Rollblock presale, predicting that its utility token, RBLK, could see returns of over 720%.

Rollblock is a disruptive DeFi project. It applies blockchain technology to the $450 billion gambling market, introducing an AI-powered GambleFi casino. The Rollblock casino offers greater security than traditional online casinos. It accepts over 20 cryptocurrencies for transactions and hosts more than 150 game modes.

In addition to using crypto for placing bets, Rollblock lets investors generate a passive income by holding RBLK. Rollblock will share up to 30% of its daily revenue with token holders, offering fantastic APY to help investors build passive income streams.

Rollblock will buy RBLK from the open market to deliver on this promise. Half of the tokens it buys will be used for rewards, which are paid out weekly. The remaining half will be burned, creating scarcity to increase the price of RBLK.

RBLK is currently selling for $0.014 during stage 3 of Rollblock’s presale, making it a low-cost, high-potential investment opportunity with many investors expecting the project to show 12x returns once listed on a tier 1 exchange!

Rollblock’s Casino is Already Live

Investors don’t need to wait to jump right into the action. The Rollblock casino is already live, licensed, and generating revenue. The development team also has plans to increase the casino’s portfolio and will add sports betting over the next few months. This will increase payouts for investors, making Rollblock a highly appealing presale.

To learn more, visit the website and their socials.

Curve Founder Liquidated Amid Price Crash, ETFSwap (ETFS) Set To Replicate Avalanche’s (AVAX) 2021 Parabolic Rally

By
TI Partners
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0

Earlier this week, Curve Founder Michael Egorov headlined the crypto industry after suffering massive liquidations of 100 million Curve (CRV) tokens valued at $27 million amid the Curve (CRV) price crash. While investors and holders become wary, famous crypto market experts tout ETFSwap (ETFS), a DeFi utility token selling fast in its viral ICO presale to replicate Avalanche (AVAX) 2021 parabolic price rally.

ETFSwap (ETFS) Programmed For A 1500x Parabolic Rally

ETFSwap (ETFS), a DeFi utility token selling at a takeoff price of $0.01831 in its viral ICO presale, has become a safe haven investment for smart investors, including Curve Founders, who move past their losses and CRV price liquidations to profit from a 1500x parabolic rally of the ETFS token programmed to happen in the coming months.

ETFSwap (ETFS) is a  DeFi trading platform that breaks the barrier of retail investors accessing highly profitable institutional-grade investment products by listing top-grade tokenized ETFs such as Bitcoin, Ethereum, spot, equity and bond ETFs for trading. These tokenized ETF investments leveraged by institutional players and smart investors guarantee wealth building and profitability as they cover booming traditional sectors, including energy, technology, agriculture and healthcare.

The DeFi platform enables seamless trading of these tokenized ETFs, allowing ETFS holders to swap the utility token for their desired tokenized ETF investment choice. Holding the ETFS utility token comes with many unique perks and benefits, such as trading discounts on the purchase of desired ETFs and cryptocurrencies, low trading fees and an opportunity to take part in the governance of the DeFi platform. ETFSwap (ETFS) has designed its DeFi trading platform to guarantee the profitability of investors, including beginner traders. A 50x leverage is provided to investors and traders to scale up their profit potential on ETF investments up to 45,000%.

ETFSwap ‘s viral presale, selling at $0.01831, the lowest its price will ever be, is bought up fast by smart investors learning about its staking features, which allow them to earn a passive income, build wealth, and profit from rewards up to 87% in staking yields.

The DeFi platform is highly protected and secure, having undergone smart contract security audits by top global security firm CyberScope. Smart traders and investors can leverage the DeFi trading platform, which is open 24/7 and does not require user registrations and KYC to maintain its users’ high privacy.

Curve (CRV) Investors Pitch Tents As Founder Suffers Massive Liquidations

Curve Founder Michael Egorov is driving fear among investors who have become wary and uncertain of the future of their Curve (CRV) holdings and investments. Earlier this week, Curve Founder Michael Egorov was on the front pages of major news headlines of crypto platforms that reported the Curve founder to have suffered CRV investment losses and liquidations amounting to 100 million Curve (CRV) tokens.

At the point of liquidation, the curve founder had lost over $27 million. Despite this massive Curve (CRV) liquidation, the Curve founder, Michael Egorov, is reported to hold 39.3 million CRV tokens still while also securing $5.4 in stablecoins on the lending platform.

Avalanche (AVAX) Has Potential

Avalanche (AVAX), popular for its bullish runs and parabolic rally in the 2021 crypto bull markets, is still waxing strong in its price growth with a strong investor community. Avalanche (AVAX) is a decentralized open-source blockchain platform developers use to deploy and launch DeFi tokens and applications.

The native token of the Avalanche (AVAX) is a general-purpose utility token that can process payment of transaction fees, secure the Avalanche network, and serve as a governance token. Avalanche (AVAX) has the potential to rally massively in the forthcoming crypto bull markets as top analysts forecast it to rally behind ETFSwap (ETFS) parabolic runs.

At press time, Avalanche (AVAX) trades at $30.97, according to coinmarketcap trading data.

Conclusion On ETFSwap Replicating Avalanche’s 2021 Parabolic Rally

Top crypto analysts tout ETFSwap (ETFS) as the next altcoin gem, having the potential to replicate Avalanche’s (AVAX) bullish parabolic rally in the previous 2021 bull markets. Big whales and top crypto CEOs, such as Curve Founder Michael Egorov, consider making significant dollar investments to position for a 1500x ETFS parabolic rally to make up for failed investments.

Hurry now and leverage the ETFS viral ICO presale, which is selling out fast as it is programmed to make many crypto millionaires in the coming months.

 

For more information about the ETFS presale:

Visit ETFSwap Presale

Join The ETFSwap Community

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